Building Energy Management System Market in APAC 2015-2019
Building energy management systems (BEMS) are deployed in buildings for efficient energy performance. It controls and manages building facilities such as lighting, electricity, fire precautions, safety, security, and heating, ventilation, and air-conditioning. They are installed in commercial buildings, IT parks, hotels, restaurants, manufacturing plants, retail outlets, and residential buildings for effective facility management.
Technavio's analysts forecast the building energy management system market in APAC to grow at a CAGR of 18.1% over the period 2014-2019.
Covered in this Report
The report includes the present scenario and the growth prospects of the building energy management system market in APAC for the period 2015-2019. The market can be segmented into three divisions on the basis of components: Hardware, software, and services.
Technavio's report, Building Energy Management System Market in APAC 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the building energy management system market in APAC and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Building Energy Management System Market in APAC 2015-2019
Technavio recognizes the following companies as the key players in the Building Energy Management System Market in APAC: Daikin, Honeywell, GE Lighting, Schneider Electric and Siemens Building Technologies
Other Prominent Vendors in the market are: Beijing PowerU Technology, Johnson Controls, Kumho Electric, Samsung Group and Toshiba
Commenting on the report, an analyst from Technavio’s team said: “One of the most effective methods of reducing energy usage in the industrial sector is employing energy management systems. These systems record energy consumption data, normalize energy data to determine the influencing factors, and analyze data to understand consumption trends and compare with historical data to identify glitches and areas for improvement. Companies can create targets, monitor consumption, and make adjustments for reducing energy consumption. The adoption of these systems in the industrial sector increased after the introduction of ISO 50001 in 2011, a standard for energy management, which governs policies for efficient use of energy and fixes targets and objectives.”
According to the report, building management software increases organizational cost savings as it facilitates efficient energy management. Also, increments in cost savings and efficient deployment of the software result in improved productivity. The comfort level in a building is the key factor influencing productivity. In an organization, lighting, with efficient temperature and acoustics controls are the key factors that require controlling to increase employee comfort. The practical implementation enables efficient control and management of building resources and services that lead to greater productivity. Better and more natural lighting, good quality of air, and suitable temperatures in the workplace can improve employees’ health, and thus increase efficiency.Further, the report states that lack of trained and skilled labor to execute the development process pose a challenge to the market growth.
Daikin, Honeywell, GE Lighting, Schneider Electric, Siemens Building Technologies, Beijing PowerU Technology, Johnson Controls, Kumho Electric, Samsung Group, Toshiba