Mar 15, 2018   SOURCE: PR NewsWire

Building Energy Management Systems Market, 2023

Building Energy Management Systems Market, 2023

DUBLIN, March 15, 2018 /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 ResearchAndMarkets.com's offering.

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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.

Increased level of energy consumption in the present era has gradually led to negative global environmental effects such as depletion of natural resources, global warming, and degradation of environment, among others. Sustainable development in the future would largely depend upon the efficient utilization of the available resources, therefore, understanding the importance of energy efficiency is crucial. Energy efficiency essentially refers to cost effective utilization of energy whereby energy waste and energy consumption is relatively minimized. Energy efficiency is critical for global economic and social development, therefore, it is essential to realize its significance. Higher energy efficiency aid in minimizing an organization's operating cost and enhancing its profitability through better energy consumption management.

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.

This report is a meticulous compilation of research on more than 50 major players in the building energy management systems industry. Moreover, it draws upon insights from in-depth interviews with key opinion leaders of more than 15 leading companies, market participants, and vendors. The report also profiles around 26 companies, which are leading solution providers, including Honeywell, Schneider Electric, Johnson Controls, and Siemens, among others.

Key Topics Covered:

Executive Summary

1 Research Scope and Methodology
1.1 Scope of the Report
1.2 Global Building Energy Management Systems Market Research 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
3.1.1 Product Launches and Developments
3.1.2 Partnerships, Collaborations, Agreements and Contracts
3.1.3 Business Expansion
3.1.4 Acquisitions
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
5.1 Assumptions and Limitations for Analysis and Forecast of the Global Building Energy Management Systems Market
5.2 Market Overview
5.3 The Global Building Energy Management Systems Market by Components and Services
5.3.1 Hardware
5.3.2 Software
5.3.3 Services
5.4 The Global Building Energy Management Systems Market by End User
5.4.1 Residential End User
5.4.2 Commercial End User
5.4.3 Industrial End User
5.5 The Global Building Energy Management Systems (BEMS) Market by Geography
5.5.1 North America
5.5.2 Europe
5.5.3 Asia Pacific (APAC)
5.5.4 Rest of the World (RoW)

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/w2rrtg/building_energy?w=5

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