Building Energy Management System Market Growth, Trends, Opportunities and Forecast to 2025

Posted November 19, 2020 by bisrsrch

Focus on Components (Software, Hardware, Services), End User (Residential, Industrial, Commercial), Systems (Wired, Wireless)

The building energy management system market can be wired, wireless, or a combination of both. While installing building control systems or building energy management systems, many industries prefer the use of most efficient, economic, and environmental-friendly solutions to meet their growing demand for maintaining energy efficiency. Since building energy management systems can be wired or wireless, buildings are audited to figure out which system is appropriate, how well the signals are being received, and how much amount of disturbances are there. The major factor considered for the selection and installation of the systems, apart from the services, is usually the cost associated with installation.

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Building owners and other end users can take advantage of wireless systems to automate building controls that previously could not be justified. The use of wireless technology has emerged as a cost-effective method across the globe in terms of meeting the required standards of building energy management by end users. The use of wireless systems in building helps in reducing energy cost and also enhancing the performance of the building.

The exponential increase in the global population has led to the rise in energy consumption and shrinking natural resources, thereby depleting the ozone layer. Hence, the need to enhance energy consumption has become critical due to continuous increase in energy demand mainly from industrial, residential, and commercial consumers. Major end-user industries of building energy management technologies include residential, commercial, and industrial. The residential sector represents the most significant end-user industry in the market for building energy management systems.

The building energy management industry has been spending millions of dollars for the innovation of smart appliances and technologies for efficient energy consumption and also to track the real-time data of an entire residential site where the system has been installed. The use of building energy management systems has helped the residential consumers to analyze a set of data collected from sensors planted at the site. Building energy management systems have been adapted to not only improve the operational performance but also ensure a secure living environment for the end users.

Commercial building energy management system provides an opportunity to the building owners to manage and understand the energy consumption. The key players in the commercial energy management system market is coming up with the launch 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 the 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 emphasizing their strategies to make a greater use of building energy management systems for efficient energy consumption.

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Building energy management systems include technological components for the installation energy systems used to reduce energy consumption. The building energy management software provides BEMS dashboards, which help in monitoring and controlling the building’s energy usage by combining energy data with facility management. The software are also used to control multiple systems which are connected over a network through a single application installed at end users’ site. This, in return, reduces the time spend on switching applications.

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Bhavya Banga
Email: [email protected]
BIS Research Inc.
FREMONT CA 94538-1686
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Last Updated November 19, 2020