Global Building Energy Management Systems Market 2017-2023 - Emergence of IoT and Cloud based Solutions

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14 Sep, 2017, 17:00 GMT

DUBLIN, September 14, 2017 /PRNewswire/ --

The "Global Building Energy Management Systems Market, Analysis & Forecast: 2017 - 2023 (Focus on Components and Services, End User Such as Residential, Commercial and Industrial)" report has been added to Research and Markets' offering.

The global building energy management systems market is expected to reach $9.32 billion by 2023. The increasing demand for reduction in energy consumption and greenhouse gas emissions along with concerns over climatic changes are some of the factors driving the overall market growth for this industry.

Services acquired major revenue because of the understanding of the BEMS consulting and installation required by the end users across different buildings. The benefits associated with BEMS hardware such as reduction in buildings' energy consumption by 20%-30%, reduction of payback period, along with automatic control of the functions of the buildings will drive the market during the forecast period. BEMS software utilize browser interfaces to provide a dynamic view of the building energy consumptions in order to enhance energy management and its usage. Access to this energy consumption data opens up new opportunities for building owners to enhance the operation of their systems, reduce costs, and validate investments in energy savings measures and system upgrades.

Residential buildings account for approximately 40% of the total energy consumption. The prospective savings of energy efficiency in the residential vertical can substantially contribute to a worldwide reduction of energy consumption. Energy savings across the residential sector reduces the demand for energy which significantly contribute to a nation's compliance with regulatory targets for the reduction of greenhouse gas emissions. The growth in the commercial application will be led by the increasing demand for energy security and sustainable development, along with environmental and social benefits.

Commercial application vertical includes building types such as offices (government and private), retail stores, institutions (schools, colleges and universities), hospitals, shopping malls and hotels, among others. Approximately 30% of the energy resources on an average is wasted by the commercial buildings.

North America dominated the global market in 2016. In the U.S. alone, organizations spend $100 billion on the energy of their buildings. In large urban areas such as New York and Chicago, energy consumption exceeds 70%. The vast majority of the current building stocks, specifically commercial buildings, will cross over 75% of the existing buildings in place by 2040. The APAC region is estimated to grow at a highest CAGR from 2017-2023 owing to development of smart cities and adoption of green technologies.

Key Topics Covered:

Executive Summary

1 Research Scope and Methodology

2 Market Dynamics
2.1 Market Drivers
2.1.1 Rising Energy Prices and Consumption
2.1.2 Issue of Global Warming
2.2 Market Challenges
2.2.1 High Initial Investment
2.2.2 Implementation Difficulty within Existing Systems
2.3 Market Opportunities
2.3.1 Construction of Smart Cities and Buildings
2.3.2 Emergence of IoT and Cloud based Solutions

3 Competitive Insights
3.1 Key Market Developments & Strategies
3.2 Industry Attractiveness
3.3 Market Share Analysis

4 Industry Analysis
4.1 Patent Analysis
4.2 Consortium, Associations and Regulatory Bodies
4.3 Supply Chain Analysis

5 The Global Building Energy Management Systems Market, Analysis and Forecast

6 Company Profiles

  • ABB Ltd.
  • Azbil Corporation
  • BuildingIQ, Inc.
  • C3 IoT
  • Cylon Controls Ltd.
  • Daikin
  • Daintree Networks
  • Echelon Corporation
  • Ecova, Inc.
  • EnerNOC, Inc.
  • eSight Energy
  • FirstFuel Software, Inc.
  • General Electric
  • GridPoint, Inc.
  • Honeywell International Inc.
  • Ingersoll-Rand PLC
  • International Business Machines Corporation
  • Johnson Controls, Inc.
  • Jones Lang LaSalle Incorporated
  • Optimum Energy LLC
  • Powerhouse Dynamics
  • Schneider Electric
  • Siemens AG
  • SkyFoundry LLC
  • Verisae, Inc.

For more information about this report visit https://www.researchandmarkets.com/research/slfmpb/global_building

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