Building Energy Management Systems (BEMS) Market is Estimated to Increase with 12.7% CAGR During the Forecast Period

Building Energy Management Systems (BEMS) Market is projected to reach USD 8412 million by 2027, exhibiting a CAGR of 12.7% during forecast period. GMI Research witnesses the importance of the BEMS in the current scenario. The BEMS market is expanding as the demand for BEMS increases in residential, commercial, and industrial sectors. It increases energy utilization and efficiency.

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Introduction of the Building Energy Management Systems (BEMS)  

Building Energy Management Systems (BEMS) is software that optimizes, measures, controls, and monitors the operations in a building, maintains technical services, and preserves the energy of devices used in the construction. This system joins the building system equipment, like ventilation, heating, & air conditioning (HVAC) systems, power systems, lighting, and other systems to build a unique, central platform for maintaining the building’s energy consumption. 

Key Players of the Market 

• ABB
• Accenture
• Cisco
• Emerson Electric Co.
• General Electric
• Hitachi Ltd.
• Honeywell International Inc.
• IBM
• Ingersoll Rand Security Technologies
• Johnson Controls
• Schneider Electric

Building Energy Management Systems (BEMS) Market Dynamics 

The growing awareness about the efficient use of energy at the government and corporate level, coupled with the robust demand for BEMS in domestic, commercial, and industrial sectors, are the crucial drivers contributing to the growth of the global building energy management systems (BEMS) market. The drastic hike in the price of energy and electricity is driving the consumers to develop energy management systems to decrease energy consumption and revise the building’s operation simultaneously. In addition, the growing attention on reducing carbon emissions to protect the environment is directly scaling the building energy management systems (BEMS) market size over the upcoming years.   

The constant technological progress and accelerated reforms in building energy management systems have elaborated the chances of usage of BEMS, thereby pulling many consumers to choose these systems. As per the Global Energy Management Systems Market Size Report, BEMS enhances energy efficiency and utilization by limiting the operations of the equipment. Moreover, the emerging trend of cooperating directly with utility enterprises to make them attentive to the power rate and demand, thus enabling proper scheduling of high-power use activities to decrease cost, will further balloon the market demand. The continuing coronavirus crisis is covering the way for the Global Energy Management Systems Market Growth, particularly in 2020. With employee wellness and security being the preference in this pandemic, employers are worried about the well-being of their employees. It is pushing them to choose intelligent building management systems equipped with intensified sensing and control technologies to form an ideal environment that promotes comfort, health, and productivity at the same time.

Building Energy Management Systems (BEMS) Market Segmentation 

Software Market Drivers 

Based on the software, the HVAC systems segment foresees to increase at a faster CAGR over the forecast period. It is attributed to the growing emphasis on lowering energy consumption, significantly fluctuating weather conditions, and accelerating government rebate programs and tax credits. The heat, ventilation, and cooling (HVAC) system are economically possible solutions and help in expertly controlling the internal environment conditions of a specific house or building. 

Communication Technology Market Drivers 

Based on communication technology, the wireless segment is estimated to rise at a higher CAGR during the forecast period due to the escalating demand for an advanced building management system quickly controlled from any isolated location and the fast digitalization across the globe. The accelerating penetration of smart devices and the rising demands for wirelessly connected systems is activating the market demand. The wireless building energy management systems are highly flexible, dependable, require a shorter time to install, and give better performance than conventional hard-wired systems.

Industry Market Drivers 

Based on the industry, the office and commercial building segments are projected to grow at a higher CAGR during the forecast period. The expanding deployment of building energy management systems in large shopping complexes, public transport areas, and corporate offices such as airports and railway stations are the vital drivers surging the segment growth over the upcoming years. Furthermore, the expanded need for energy-efficient lighting systems and HVAC control systems to lower energy consumption and raise living standards further stimulates the segment’s growth.

Geographical Drivers 

The Asia-Pacific region is forecasted to lead the market during the forecast period. The rapid development in the construction industry, especially in developing countries like China and India, followed by the growing number of government initiatives to raise energy consumption, are the crucial aspects responsible for steering the market growth in the region. In addition, the emerging trend for developing smart cities to change the quality of life is straight mounting the demand for building energy management systems.

Building Energy Management Systems (BEMS) Market Segmentation 

Market Segmentation by Software 

• Data Management
• Asset Performance Optimization
• Application Platform
• HVAC System
• Lighting System

Market Segmentation by Communication Technology 

• Wired
• Wireless

Market Segmentation by Service 

• Consulting & Training
• Support & Maintenance Services

Market Segmentation by Industry 

• Manufacturing
• Telecom and IT
• Office and Commercial Buildings
• Municipal
• Others

Market Segmentation by Type 

• Milking Robots
• Unmanned Aerial Vehicles (UAVs)/Drones
• Rotary Blade Drones
• Fixed-Wing Drones
• Hybrid Drones
• Driverless Tractors
• Automated Harvesting Systems
• Others

Market Segmentation by Farming Environment 

• Indoor
• Outdoor

Market Segmentation by Farm Produce 

• Field Crops
• Fruits & Vegetables
• Dairy & Livestock
• Others

Market Segmentation by Application 

• Field Farming
• Plant Scouting
• Crop Monitoring
• Crop Scouting
• Harvest Management
• Soil Management
• Nutrient Monitoring
• Moisture Monitoring
• Dairy & Livestock Management
• Livestock Monitoring
• Dairy Farm Management
• Precision Fish Farming
• Pruning Management
• Irrigation Management
• Inventory Management
• Weather Tracking & Monitoring
• Others

Market Segmentation by Region 

North America  

• The United States of America  
• Canada

Europe  

• The United Kingdom  
• Germany  
• France  
• Spain   
• Rest of Europe

Asia Pacific  

• China   
• India  
• Japan  
• Rest of APAC

Rest of World  

• Brazil  
• South Africa   
• Saudi Arabia   
• UAE   
• Rest of world  

About GMI Research    

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