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The Next-Generation Building Energy Management Systems market is experiencing significant growth and witnessing several key market trends as organizations strive to optimize energy efficiency, reduce carbon emissions, and improve building performance. Next-generation Building Energy Management Systems (BEMS) provide advanced solutions to monitor, control, and optimize energy consumption within buildings, enabling organizations to achieve their sustainability goals and reduce operational costs.
One of the prominent market trends in the Next-Generation BEMS market is the integration of Internet of Things (IoT) technology. IoT-enabled BEMS utilize sensors, meters, and connected devices to collect real-time data on energy usage, occupancy patterns, and environmental conditions. This data is then analyzed to identify energy-saving opportunities, optimize equipment performance, and enable proactive maintenance. The integration of IoT technology enhances the capabilities of BEMS, providing organizations with more accurate and granular insights into their energy consumption patterns.
Another significant trend is the focus on data analytics and machine learning in Next-Generation BEMS. Advanced analytics and machine learning algorithms enable BEMS to analyze large volumes of data, identify patterns, and make predictive recommendations for energy optimization. These systems can learn from historical data and adapt to changing conditions, making them more effective in identifying energy-saving opportunities and optimizing building performance over time. Organizations are increasingly adopting BEMS solutions that offer robust data analytics and machine learning capabilities to achieve maximum energy efficiency.
The market is also witnessing a shift towards cloud-based BEMS solutions. Cloud-based BEMS offer several advantages, including easy access to data and analytics from anywhere, scalability, and cost-effectiveness. These solutions enable organizations to centralize their energy management systems, monitor multiple sites remotely, and leverage the power of cloud computing for advanced analytics and optimization. The demand for cloud-based BEMS is driven by the need for flexibility, real-time monitoring, and seamless integration with other smart building technologies.
Moreover, the market is experiencing a trend towards the integration of BEMS with other smart building systems, such as building automation systems (BAS), lighting control systems, and security systems. The integration of these systems enables organizations to have a holistic view of their building operations and optimize energy consumption based on various factors, such as occupancy, lighting conditions, and security requirements. Integrated BEMS provide organizations with centralized control and automation, resulting in improved energy efficiency and operational effectiveness.
Additionally, the market is witnessing a growing emphasis on demand response and energy optimization strategies. Next-Generation BEMS enable organizations to participate in demand response programs by automatically adjusting building operations during peak demand periods or in response to grid signals. Energy optimization strategies, such as load balancing, predictive maintenance, and energy storage integration, are also becoming more prevalent in BEMS solutions. These strategies help organizations reduce energy costs, minimize downtime, and enhance overall building performance.
In terms of geographical trends, North America and Europe currently dominate the Next-Generation BEMS market, owing to stringent energy efficiency regulations, government incentives, and a strong focus on sustainability. However, the Asia-Pacific region is expected to witness significant growth in the coming years, driven by rapid urbanization, increasing energy consumption, and a growing focus on energy conservation.
Covered Aspects:
| Report Attribute/Metric | Details |
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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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