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The market dynamics of the next-generation building energy management systems (BEMS) market are witnessing significant changes and growth as organizations and governments prioritize energy efficiency and sustainability in buildings. Next-generation BEMS refers to advanced technologies and solutions that enable intelligent monitoring, control, and optimization of energy usage in buildings. Several key factors are shaping the market dynamics of the next-generation BEMS market.
Firstly, the increasing focus on energy efficiency and sustainability is driving the demand for next-generation BEMS. Buildings account for a significant portion of global energy consumption and greenhouse gas emissions. Next-generation BEMS offer advanced features, such as real-time energy monitoring, demand response, and predictive analytics, to optimize energy usage and reduce waste. Organizations and governments are increasingly adopting these solutions to achieve energy efficiency goals, reduce operating costs, and mitigate environmental impact.
Secondly, regulatory requirements and incentives are fueling the adoption of next-generation BEMS. Governments around the world are implementing energy efficiency regulations and standards that require buildings to reduce energy consumption and improve performance. Next-generation BEMS help organizations comply with these regulations by providing the necessary tools and data to monitor and manage energy usage effectively. Additionally, governments may offer incentives, such as tax benefits or grants, to encourage the adoption of energy-efficient technologies, including next-generation BEMS.
Moreover, advancements in technology, such as the Internet of Things (IoT) and artificial intelligence (AI), are influencing the market dynamics of next-generation BEMS. IoT sensors and devices can be integrated with BEMS to collect real-time data on energy consumption, occupancy patterns, and environmental conditions. AI algorithms can analyze this data and provide insights and recommendations for optimizing energy usage and improving building performance. These technologies enhance the capabilities of next-generation BEMS, making them more intelligent and efficient.
Furthermore, the increasing demand for smart and connected buildings is shaping the market dynamics of next-generation BEMS. Smart buildings integrate various systems, such as lighting, HVAC, and security, to create an interconnected and automated environment. Next-generation BEMS play a crucial role in smart buildings by providing centralized control and management of energy systems. These solutions enable building operators to monitor and optimize energy usage across different systems, resulting in improved efficiency, comfort, and cost savings.
Additionally, the rising awareness of the benefits of data-driven decision-making is influencing the market dynamics of next-generation BEMS. By collecting and analyzing large amounts of data on energy usage, occupancy patterns, and equipment performance, next-generation BEMS provide valuable insights for building operators and facility managers. These insights help identify energy-saving opportunities, detect anomalies, and optimize building operations for maximum efficiency. Data-driven decision-making is becoming a key driver in the adoption of next-generation BEMS as organizations aim to make informed and proactive energy management decisions.
However, challenges exist in the next-generation BEMS market. Building owners and operators may face barriers such as high upfront costs, lack of awareness, and the complexity of integrating BEMS with existing building systems. Education and awareness programs, along with financial incentives, can help overcome these barriers and encourage widespread adoption of next-generation BEMS.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Type, Application |
Next Generation Building Energy Management Systems Market Highlights:
Next-Generation Building Energy Management Systems Market Overview
Next-generation building energy management systems refer to a broad set of solutions that are used to facilitate energy-efficient building management facilities. These solutions are characterized by the convergence of traditional and innovative hardware, software, and services to enhance the control and automation of building systems and manual procedures. The major factors that drive the market for the next-generation building energy management systems market are significant cost benefits to industrial, commercial, and residential users, simplified building operations and maintenance, increasing demand for energy-efficient and eco-friendly buildings, and growing integration of IoT. The growing integration of IoT with building automation systems (BASs) is also driving the growth of the next-generation building energy management systems market based on software. The smart devices that are integrated for the purpose of building automation and management are expected to be more self-governing and intelligent in terms of sharing data with BASs and the cloud.
The Global Next-Generation Building Energy Management Systems Market is expected to register a CAGR of 10.90% during the review period, 2022–2030.
Key Players
The Global Next-Generation Building Energy Management Systems Market is characterized by the presence of several regional and local providers.Â
Some of the Key Players in the market areÂ
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Honeywell
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Johnson Controls
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Schneider Electric
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Siemens
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ABB
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CBRE Group
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CISCO
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Daikin
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Echelon,Â
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GridPointÂ
Key Developments
- October 2018: Honeywell announced its plan to acquire Transnorm, a leading provider of warehouse automation solutions.
- April 2018: Johnson Controls acquired the assets of Triatek, a leading manufacturer of innovative airflow solutions for critical environments across the globe.
- March 2018: Schneider Electric and AVEVA created a joint venture to form a global leader in engineering and industrial software with scale and relevance in key markets as well as an unmatched set of solutions covering all aspects of digital asset management from process simulation to design, construction and manufacturing operations management and optimization.
Market Segmentation
The Global Next-Generation Building Energy Management Systems Market has been segmented based on Type, Communication Technology, Application, and Region.
By Type, the market has been segmented into software, service, and hardware. The software segment has been further segmented into data management, asset performance optimization, application platform, HVAC system, and lighting system. The service segment covers services such as consulting & training and support & maintenance services.
By Communication Technology, the market has been divided into wired and wireless.
By Application, the market has been divided into commercial buildings, manufacturing facilities, educational institutions and hospitals, and government establishments.
The regions included in the study are North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
Regional Analysis
Geographically, the global next-generation building energy management systems market has been categorized into four regions, namely North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Europe is expected to hold the largest share in the Global Next-Generation Building Energy Management Systems Market in 2018. The region has been an early adopter of the BMS, which has boosted the demand for BMSs in this region, leading to a higher share in the market. The presence of a large number of players in the region is driving the market. Asia-Pacific is anticipated to expand at a significant pace during the forecast period due to the increase in demand for the construction of residential and industrial buildings.
Key Questions Addressed by the Report
- What was the historic market size (2018)?
- What will be the growth rate by 2025?
- Who are the key players in this market?
- What are the strategies adopted by key players?
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