The Global Building Energy Management System Market is expected to grow at a CAGR of 14.7% during 2021-26, says MarkNtel Advisors in their research report. Building Energy Management Systems (BEMS) are computer-enabled automated systems used for monitoring & controlling the energy need & consumption of buildings. Burgeoning energy use in commercial & residential buildings has resulted in increased energy bills & carbon footprints.
The key contributors to the surging energy demand are emerging economies like China, India, Russia, Brazil, Indonesia, etc., along with certain developed countries like the United States. In 2019, the thermal energy segment had a lead in the power generation mix of these countries, which negatively impacted the environment by releasing a considerable amount of carbon.
These ongoing events are expected to continue to propel the overall energy needs, also polluting the environment. Hence, the demand for an efficient building energy management system is projected to increase significantly in the coming years, further states the research report, “Global Building Energy Management System (BEMS) Market Analysis, 2021.”
Software-Based BEMS to Witness Exponentially Growing Demand Through 2026
The Software-based BEMS helps in centrally monitoring & controlling the devices connected in commercial or residential buildings. It predicts the energy demand & automatically adjusts a building’s HVAC settings to optimize energy usage. The rising demand for incorporating data analytics in the existing BEMS and the easy accessibility of cloud-based software through mobile applications are the prime aspects expected to fuel the market growth in the coming years.
“Global Building Energy Management System Market Analysis, 2021” highlights insights on the market potential & opportunities, along with business strategies to enhance the overall market growth. The report offers an overview of leading market players and their recent developments. Moreover, the report provides incredible market opportunities & emerging trends to help stakeholders make appropriate decisions before investing.
North America Acquired the Largest Share in the Global Building Energy Management System Market
The North America Building Energy System Market is driven primarily by the rapid developments in the residential sector, like the increasing construction of high-rise buildings to control & manage energy consumption. Besides, most IT & power infrastructures adopting BEMS to manage the energy distribution & consumption in buildings and, in turn, reduce carbon footprints & minimize energy costs is another crucial aspect that contributes to the overall regional market growth.
According to MarkNtel Advisors, the leading industry players in the Global Building Energy Management System Market are ABB, Siemens, Honeywell, Schneider Electric, Johnson Control, Daikin, Emerson, Ingersoll, General Electric, and Azbil.
Key Questions Answered in the Study