Building Energy Management Solutions Market Surges: Valued at $4.7 Billion, Anticipated to Reach $15.2 Billion by 2032

Building Energy Management Solutions Market

The market for building energy management solutions is anticipated to grow at an impressive 12.5% CAGR between 2022 and 2032. Building energy management systems market share is estimated to reach a total assets of US$ 15.2 billion over the specified years, which is an improvement over the current valuation of US$ 4.7 billion in 2022.

The primary factors influencing the growth of the building energy management solutions market globally are the growing global demands for energy proficiency and the mechanical advancement in energy proficient building management systems. The framework for building energy management is a well-thought-out, contemporary solution that enables smart building energy productivity.

These solutions incorporate observing and controlling the working gadgets and gear of the building, for example, ventilation and cooling frameworks, warming, lighting, checking, identifying and other associated power frameworks.

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Building energy management framework empowers the constant checking and control on whole framework associated with the building. Energy execution of the building is accomplished by the consistent improvement of the building computerization and control frameworks.

Building energy management solutions additionally incorporates energy request management, which manages improvement energy use by coordinating, unofficial laws, monetary motivations and conduct changes.

Global Building Energy Management Solutions Market: Market Dynamics

Rising energy efficiency standards, broader adaptation to internet of things (IoT) technology coupled with analytical solutions, stringent government regulation on energy efficiency, and global initiative to reduce greenhouse emission are the key factor driving the global demand for building energy management solutions.

Changing organizational structures, rising energy cost, growing awareness on energy governance, and the developing trend towards smart building are further expected to accelerate the demand for building energy management solutions globally.

Additionally, increasing customer understanding about the business benefits of energy management solutions, rising carbon taxes, and favorable government polies to implement energy management solutions are expected to fuel the growth of building energy management solutions market globally.

However, high implementation cost, unstable economic condition and long-term return on investment are some of the factors restraining the growth of global building energy management solutions market.

Global Building Energy Management Solutions Market: Regional Outlook

Regionally, the global building energy management solutions market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan.

North America and Europe market is in advanced stage of energy management solutions and is expected to dominate the market. Asia Pacific is identified as the fastest growing market due to growing economy, technological advancement, expanding infrastructure, smart city initiatives, and industrialization.

Global Building Energy Management Solutions Market: Competition Landscape

The key vendors in the global building energy management solutions market are Siemens AG, Schneider Electric, Honeywell International, Inc., Cisco, Eaton., General Electric Company, Johnson Controls., CA Technologies, Ecova, Inc., and Cylon Controls. Collaborating with other players and service providers in the building energy management market is the key strategy followed by major market vendors to gain competitive edge.

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Key Segments in the Building Energy Management Solutions Market

By Component:

  • Hardware
  • Software
  • Sensors
  • Actuators
  • Controls
  • Others

By End User:

  • Industrial
  • Commercial
  • Government
  • Residential
  • Others

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • MEA
  • Europe

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI)

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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