The report forecasts the building energy management services market in Middle East to grow at a CAGR of 19.49% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One of latest trends in the market is focus on environmental sustainability. Various activities related to the O&M of building facilities, such as heating, cooling, and lighting, release a considerable amount of carbon dioxide (CO2). These emissions tend to bring down the level of greenhouse gases (GHG) present in the atmosphere, thereby causing health issues. An efficient building that is supported by energy efficient products and services discharges zero GHG to the atmosphere, thus promoting sustainable environment development.
According to the report, one of the primary drivers in the market is cost savings for businesses. Organizations have become increasingly aware of the overall benefits and savings from effective energy management systems. Client organizations are more inclined to streamline their processes and building facilities to reflect greater profits in their business operations. In order to achieve that, building facilities need to function in an optimized manner, thereby adding to the overall efficiency of the business process. With increased focus on managing costs, client organizations have shifted their vision toward BEM as a competent resource for value addition rather than a mere service cost. It is observed that the installation of efficient machinery or equipment can help organizations save 3% of their overall costs.