Dec 16, 2022   SOURCE: BusinessWire

Global Building Energy Management Solution Market Report to 2031 - Featuring ABB, General Electric, Honeywell International and Hitachi Among Others - ResearchAndMarkets.com

The "Building Energy Management Solution Market By Component, By Type, By Application: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

The global building energy management solution was valued at $8,810.2 million in 2021, and is projected to reach $44,246.7 million by 2031, growing at a CAGR of 17.2% from 2022 to 2031.

Building energy management system is a computer-based system that monitors and controls a building's electrical and mechanical equipment such as lighting, power systems, heating, and ventilation. The HVAC systems, office equipment, pumps, catering, and fans are some of the areas in the building that use energy management systems.

A building energy management solution is a system of computer aided tools used by operators of electric utility grids to control, monitor, and optimize the performance of the transmission systems.

Energy management solutions have gained popularity since they help gain competitive advantage, increase productivity, and reduce energy costs. Every building small or big is running with the help of energy, so it is need to install energy management systems.

A rise in digitization and increase in data generated by IoT devices, which boost the growth of the global building energy management solution market.

In addition, rise in inclination towards energy efficiencies, and rise in gated communities in urban spaces in emerging economies over the past couple of decades is a key trends, which drives the growth of the building energy management solutions market.

Smart doorbell system is internet connected doorbell device that sends notification to home owner about who arrives at the door. It is compatible with smartphones, IoS Devices, and android devices as well.

Benefits associated with energy management solutions improves energy efficiency, utilization by reconstructing the operation of equipment, controls, and monitor HVAC systems, which in turn, adoption of energy management solutions, in buildings, drives the growth of the market.

However, high initial cost related to deploying energy management systems and price volatility in energy management are major restraints for the growth of the building energy management solution market.

Furthermore, government initiatives towards the construction of new smart homes are expected to provide lucrative opportunities for the growth of the building energy management solution market.

Key Benefits

  • The report provides an extensive analysis of the current and emerging global building energy management solution market trends and dynamics.
  • In-depth market analysis is conducted by global building energy management solution market estimations for the key market segments between 2021 and 2031.
  • The global building energy management solution market analysis is conducted by following key product positioning and monitoring of the top competitors within the market framework.
  • A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
  • The global building energy management solution market forecast analysis from 2021 to 2031 is included in the report.
  • The key market players within market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global building energy management solution market opportunity.

Key Market Segments

By Type

  • Wired
  • Wireless

By Component

  • Hardware
  • Software
  • Services

By Application

  • HVAC
  • Non-HVAC

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest Of Asia Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

Key Market Players

  • ABB Ltd
  • Mcloud Technologies Inc
  • General Electric Company
  • Honeywell International Inc
  • Hitachi Ltd
  • Siemens AG
  • Schneider Electric
  • Emerson Electric Co
  • Rockwell Automation Inc

For more information about this report visit https://www.researchandmarkets.com/r/o0a0we