Global Building Energy Management Systems (BEMS) Market Was Assessed To Be USD 3.7 Billion in 2020, and It Is Anticipated To Arrive at USD 8.4 Billion by 2027

Global Building Energy Management Systems (BEMS) Market Was Assessed To Be USD 3.7 Billion in 2020, and It Is Anticipated To Arrive at USD 8.4 Billion by 2027

Building Energy Management Systems: Introduction

Building energy management systems (BEMS) is an electronic system that controls and monitors the building's mechanical and electrical equipment like power systems, lighting as well as heating and ventilation. These BEMS can be connected with the building's services plant, then into a computer center in order to enable control of the on/off times for lighting, temperatures and humidity. Cables connect various hubs throughout an area to one central computer that allows building managers to manage the building.

The software for managing energy in buildings includes control functions, monitoring and alarms. It also allows administrators to boost the efficiency of buildings.

The Global Building Energy Management Systems Market Forecast: 

The global market of Building Energy Management Systems (BEMS) is estimated at USD 3.7 Billion in 2020, and it is expected to increase to a value of USD 8.4 Billion by 2027. This will grow at an annual rate of (CAGR) 12.4% over the timeframe of 2020-2027.

The rise of gated communities in urban areas that are emerging in the last few decades is one of the major trends that has led to an increase in the consumption of energy from residents. BEMS helps to make energy-efficient use of mechanical and electrical equipment's by the occupants of buildings, providing them with a method to maximize energy use. In a larger sense, there is a variety of technology available on the BEMS market that offer a variety of functions for monitoring and controlling, for example, through smart meters for managing energy use. In addition, the utilization of BEMS allowed waste energy to be redirected from energy into useful uses, for example, heating water. Through the years, advances made in the BEMS industry have led to them being more accessible to use as well as easy to maintain and easy to use by facility managers. Companies in the field of technology have also outfitted buildings automation systems with innovative capabilities, which has expanded the capabilities of BEMS systems for managing energy in buildings.

BEMS stands for Building Energy Management System. (BEMS) is a cutting-edge technique to control and monitor the energy consumption of the building. BEMS is a system that is computer-driven that monitors and controls feature for buildings' electrical and mechanical equipment, which includes ventilation, power as well as lightning and ventilation systems. BEMS has changed in recent years with a growing focus on data usage in commercial buildings fueled by technological trends like the Internet of Things (IoT) and cloud computing.

Building energy management systems are vital to managing the need for energy within an enormous complex or multi-building site. There's a major difference in BEMS in comparison to other controls because the former has unique features like communication, information about processes, as well as other remotely-operated tasks that are managed by a central point or one operating unit. A preferred management system has been delivered to BEMS due to technological advancement in the BEMS hardware for sensors and communication highways and computer processing power. BEMS not only has led to rapid advances, but it has drastically reduced the costs for management software. The advancement in technology has made it possible to use the benefits of BEMS. Additionally, it's today possible to control several buildings simultaneously and combine their functions.

The cooling and heating demands of buildings can be combined to result in energy savings and managing a building to achieve the best. BEMS can also increase efficiency and energy utilization by reorganizing the operation of the equipment that it regulates and oversees. The improvement in energy efficiency results in greater environmental protection through a reduction in the use of resources.

The rate of growth for BEMS installation differs significantly across regions, with the majority of participation coming from developed countries. At the state, national, local, and state levels, the policies of the government have a significant role to play in encouraging the use of BEMS, but the uncertain demand has led to challenges for the BEMS market. What is the future for the BEMS market will depend on the price of technology, implementation of supportive measures, incentives for economic growth, investor interest, consumer awareness, certification, and quality and assurance.

It is believed that the BEMS market is driven by the development of technology and advancements both in the regional and global markets. The cost of BEMS differs based on many aspects like the cost of installation and space availability.

The Key Market Segmentation of the Global Building Energy 

Management Systems Market: 

Global Building Energy Management Systems Market can be divided into Component Types, End-User and Geographical landscapes, etc. 

Building Energy Management Systems Market Segmentation By Component Type:

Communication Networks

Software

Hardware

Control Systems

Sensors

Other

Building Energy Management Systems Market Segmentation By End-User:

Commercial

Industrial

Residential

Global Building Energy Management Systems Market Segmentation by Software

Data Management

Asset Performance Optimization

Application Platform

HVAC System

Lighting System

Global Building Energy Management Systems Market Segmentation by Communication Technology

Wired

Wireless

Global Building Energy Management Systems Market Segmentation by Service

Consulting & Training

Support & Maintenance Services

Global Building Energy Management Systems Market Segmentation by Industry

Manufacturing

Telecom and IT

Office and Commercial Buildings

Municipal

Others

Building Energy Management Systems Market Segmentation By Geographical Landscape:

North America

Europe

Asia Pacific

South America

The Middle East and Africa

The Key Market Players of the Global Building Energy Management Systems Market: 

ABB

Accenture

Cisco

Emerson Electric Co.

Ingersoll Rand Security Technologies

Johnson Controls

Hitachi Ltd.

Schneider Electric

General Electric

Honeywell International Inc.

IBM

The Covid-19 Impact Analysis:

The building energy management market has been severely affected because of the COVID-19 pandemic, as a number of industrial and non-industrial industries are severely affected. The COVID-19 pandemic has caused complete or partial shutdowns of diverse industrial activities. The shutdown of factories and industrial processes have resulted in a reduction in energy consumption around the world. As per the World Economic Forum (WEF), the demand for energy has decreased by 15% across various nations, including India, the United States, the United Kingdom and France.

So, the COVID-19 has had a significant impact on energy management in the world. However, households have experienced an increase in household's energy consumption. Home activities have been increased due to the COVID-19 pandemic. Those activities include working from home, cooling or heating appliances, streaming entertainment systems, and powering home appliances.

Need Help?

Please fill form below:

Contact Us

99 WALL STREET #2124 NEW YORK, NY 10005