Global Building Energy Management System Market 2015-2019
Building Energy Management Systems (BEMS) are deployed in buildings for efficient energy performance. These systems control and manage building facilities such as lighting, electricity, fire precautions, safety, security, and heating, ventilation and air-conditioning. They are installed in buildings such as commercial buildings, IT parks, hotels, restaurants, manufacturing plants, retail outlets, and residential buildings for effective facility management.
Technavio's analysts forecast the global building energy management system market to grow at a CAGR of 16.5% over the period 2014-2019.
Covered in this Report
The global building energy management system market can be segmented into three divisions on the basis of components: Hardware, software, and services. On the basis of end-users, the market has been segmented into the following five divisions: Commercial buildings, manufacturing facilities, educational institutions and hospitals, government institutes, and others. Technavio’ s report, the Global Building Energy Management System Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors.Key Regions
Technavio Announces the Publication of its Research Report – Global Building Energy Management System Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Building Energy Management System Market: GE Energy, Honeywell International, Johnson Controls, Schneider Electric and Siemens Building Technologies
Other Prominent Vendors in the market are: ABB, BuildingIQ, EnerNOC, GridPoint and Pacific Controls
Commenting on the report, an analyst from Technavio’s team said: “Technological advances are improving product quality and leading to more user-friendly designs. These designs do not require any programming experience and need less labor and time to operate, which reduces maintenance and service costs. Most vendors are integrating software and services to form a platform that will fulfil all the energy requirements, starting from procurement to demand-side management. For instance, Philips’ Envision project involves the development of user-friendly Envision software, supported by an Envision app that provides solutions tailored to every customer’s requirements. This trend will have a positive influence on the overall market growth in the coming years.”
According to the report, demand for electricity has increased steadily worldwide, and the global demand for energy is likely to increase by 2030. It has become imperative to reduce energy consumption to counter the rapid depletion of energy sources worldwide. Manufacturing and process industries account for the majority of energy consumption, which is nearly one-third of the total energy consumption globally. Lighting controls and HVAC systems help reduce energy consumption by automating the on-and-off processes of general equipment. They also help monitor and control energy usage from a remote location. BEMS plays a major role in reducing energy consumption.Further, the report states that implementing this technology requires large initial investment and takes a long time to gain returns on that investment
GE Energy, Honeywell International, Johnson Controls, Schneider Electric, Siemens Building Technologies, ABB, BuildingIQ, EnerNOC, GridPoint, Pacific Controls
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