Global Building Energy Management System Market: Focus on Components (Software, Hardware, Services), End User (Residential, Industrial, Commercial), Systems (Wired, Wireless) – Analysis and Forecast, 2018-2025
With the exponential growth of the world population, the subsequent rise in energy consumption, shrinking natural resources, and ozone layer depletion, the need to enhance energy conservation has become critical. Another looming concern over the energy management industry is low operating efficiency of the building systems which has led to the increase in overhead cost for end users. As a result of the declining operating efficiency, adoption of building energy management practices has been triggered in order to reduce energy consumption and overhead cost.
The advent of building energy management system has resulted into reduced energy consumption and overall cost-effective operations without affecting the climate by providing heating, ventilation, air condition, refrigeration, security and lighting control techniques. Moreover, increasing energy consumption across the regions has led to the growth of energy conservation/efficient solutions. As a result, the demand for building energy management system has significantly increased across the globe. Building energy management solutions has helped residential, commercial and industrial end users to operate flexibly maintaining demand side management and demand side response. Companies, such as Johnson Controls, Emerson Electric, and Siemens AG, among others, are introducing cost-effective building energy management solutions in order to increase market penetration in key emerging economies.
The building energy management system market research study offers a wide perspective on where the industry is heading. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.
The report answers the following questions about the building energy management system market:
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