Building Energy Management Solutions Market Soars to US$ 4.7 Billion in 2022, Anticipating 12.5% CAGR to Reach US$ 15.2 Billion by 2032

Building Energy Management Solutions Market

The building energy management solutions market is ready to witness a noteworthy CAGR of 12.5% from 2022 to 2032. Over the determined years, the building energy management solutions market share is assessed to arrive at a total assets of US$ 15.2 Billion, improving from the ongoing valuation of US$ 4.7 Billion in the year 2022.

Rising worldwide drives for energy proficiency and mechanical progression in energy proficient building management solutions, are the key variables affecting the development of building energy management solutions market universally. Building energy management framework is a coordinated modernized answer for empower savvy energy productivity in buildings.

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

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)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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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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