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Market Overview
Developing countries, in the upcoming three decades are expected to account for the majority of the population growth. By 2050, 2.20 billion people are expected to be an addition to the global population. As per the U.N. projections, Africa is expected to register the highest population growth with an additional 1.30 billion people across the globe, by 2050. Majority of this growth is expected to result in the increase in urbanization. If greenhouse gas emission reductions are to be targeted, the new buildings need to be as energy efficient as possible.
Energy efficiency is an important driver in the development of systems that automatically monitor and control energy usage. The concept of using energy management systems across buildings has been around for many years now, however the recent developments in IT have made it a more practicable proposition. Companies, manufacturers, and individuals are becoming more intelligent in incorporating greater automation.
Major end-user industries of building energy management technologies include residential, commercial and industrial. Residential sector represents the most significant end-user industry in the market for building energy management system. Commercial building energy management system provides an opportunity to the building owners to manage and understand the energy consumption. Commercial energy management system market is coming up with launching of new products and various developmental activities in order to generate public awareness about their existing and new products and compete with the competitors’ product portfolio. The reason behind this growth is due to organizational restructuring and cost cutting. Many key players such as Schneider Electric and Siemens AG are mainly focusing on the launch of new initiatives to improve technology and are emphasizing their strategies to make a greater use of building energy management system for efficient energy consumption.
Figure 1
Global Building Energy Management System Market Snapshot
Source: Secondary Research, Expert Views, and BIS Research Analysis,
The building energy management system market is projected to grow from $xx billion in the year 2018 to $12.72 billion by 2025, growing at a CAGR of xx% from 2018 to 2025. Deployment of automation and control systems to steer the application of energy management systems is expected to augment the growth of the market.
The trends of the building energy management system market vary across different geographical regions. The building energy management system market holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW). North America is at the forefront of the global building energy management system market, with high market penetration rate in the U.S., Mexico, and others, which are expected to display robust market growth in the coming five years.
North America, followed by the Europe region, generated the highest revenue in the building energy management system market in 2018. The Europe market for building energy management system technologies is quite developed with major growth opportunities arising from countries in the Eastern Europe region. The fastest growth rate is expected from the Asia-Pacific and Rest-of-the-world regions. Among all the countries, the U.S. generated the highest revenue of $650.0 million in 2018. Strong growth in the U.S. market was largely due to the high rate of adoption of technologies in the U.S. However, during the forecast period, countries such as China, India, Australia, Singapore, the U.K., Norway and Mexico are projected to display the fastest market growth. These countries present immense scope for market development, owing to the increasing urban population size, growing market penetration of advance technologies and favourable government investments.
Competitive Landscape
The building energy management system market comprises major companies providing hardware, software solutions, and services. This varied range of market participants provides opportunities to other players willing to bear the high risks involved in the industry. This segment details the latest strategies and developments adopted by the key market players in the building energy management system market. In order to lead the market as well as to engage in the process of market growth, a company needs to work in collaboration with the top market leaders, acquire the relatively weaker companies, bring new products and services to the market, and improve the existing products.
The result of the emerging strategies and developments are already surging the market in the form of mergers and acquisition. Moreover, the growing market of building energy management system is further expected to increase the involvement of companies across different segments of the value chain. The key players actively taking part in the building energy management system market are: ENGIE, Johnson Controls, Ingersoll Rand, Schneider Electric, and Siemens AG, among others.
Majority of the companies preferred entering into merger and acquisition to enhance their presence while the relatively less adoptive strategies comprised of partnership, collaboration, and joint venture. Merger and acquisition across the value chain of the building technology industry presented a major strategic move made by a large number of companies since 2016. For instance, in March 2018, Ingersoll Rand acquired Agilis Energy to create energy efficient manufacturing powerhouse for its industrial consumers.
Global Building Energy Management System Market – Analysis and Forecast, 2018-2025
Focus on Components (Software, Hardware, Services), End User (Residential, Industrial, Commercial), Systems (Wired, Wireless)
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