Building Energy Management System Market is anticipated to reach USD 15.9 Billion by 2032, at a 13.20% CAGR during the forecast period 2023-2032

Surging Energy Consumption to Boost Building Energy Management System Market Growth

New York, USA, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Building Energy Management System Market Analysis:

The global Building Energy Management System Market will touch USD 15.9 billion at a 13.20% CAGR by 2032, as per the recent Market Research Future report.

Key Players:

  • Eminent market players profiled in the building energy management system market report include General Electric Company
  • Honeywell International Inc
  • Siemens AG
  • Schneider Electric
  • Hitachi Ltd
  • Rockwell Automation Inc
  • Emerson Electric Co
  • Rockwell Automation Inc
  • Mcloud Technologies Inc
  • ABB Ltd
  • among others

Key players have incorporated several strategies to stay ahead in the competition such as partnerships, mergers, new product launches, to name a few.

Get Free Sample PDF Brochure:

Scope of the Report – Building Energy Management System Market:

Report MetricsDetails
Market Size by 2032USD 15.9 Billion
CAGR during 2023-203213.20%
Base Year2022
Forecast 2023-2032
Key Market OpportunitiesGovernment initiatives toward the construction of new smart homes
Key Market DynamicsAn uptick in the management of energy use across commercial, industrial, and public sector organizations and increase in activities in the construction sector

Buy Now Premium Research Report - Get Comprehensive Market Insights.

Building Energy Management System Market Segmentation 

The building energy management system market is bifurcated based on type, component, and application.

  • By type - wired will lead the market over the forecast period. A rise in the construction-related activities like those involving the development and construction of infrastructure, is the primary factor. The high initial cost involved with setting up energy management systems & the price volatility in energy management, however, severely restrict the market for building energy management solutions.
  • By component - software will domineer the market over the forecast period. The software category comprises lighting systems, heating, ventilation, & air conditioning (HVAC), data management, application platforms, and asset performance optimization.  
  • By application - HVAC will spearhead the market over the forecast period. The increasing investments being made by major market players like IBM Corporation, Schneider Electric, and Honeywell International Inc. for data analytics software integration in their current building energy management systems are predicted to support the future revenue growth of the software platforms market.

Browse In-depth Market Research Report (128 Pages, Charts, Tables, Figures) Building Energy Management System Market-


Surging Energy Consumption to Boost Market Growth 

The rising energy usage is one of the most significant factors affecting the worldwide market for building energy management systems. Increased electricity generation as a result of increased energy consumption has a direct impact on both production and consumption costs. Because BEMS is an energy-efficient technology, it will encourage more people to manage the usage of natural resources effectively and ease the financial burden of high power costs.


Advances in IoT Technology to offer Robust Opportunities 

The basis for linked smart devices in buildings has been laid by the development of Internet of Things (IoT). Building systems may be intelligently controlled and automated with the help of BEMS, which makes use of IoT technology to gather real-time data both from sensors and devices.

Restraints and Challenges 

High Initial Cost to act as Market Restraint 

The high initial cost to deploy energy management systems coupled with price volatility in the energy management may act as market restraints over the forecast period. 

Ask for Customization - Get a customized version of the report by submitting a customization request.

COVID-19 Analysis 

Construction efforts were hampered by the epidemic, and several projects were postponed or delayed. The need for BEMS installations especially in new buildings may have suffered as a result. Office buildings, retail locations, and educational institutions all saw their occupancy rates decline as remote work became more common. As the necessity for energy optimization decreased for underutilized buildings, this circumstance could have had an impact on BEMS demand and utilization. The pandemic made it clear how crucial indoor air quality is for stopping the spread of infections. The air quality monitoring & ventilation systems that may be integrated with BEMS solutions may have been purchased by building owners and managers. The accessibility of BEMS installations and components may have been hampered by manufacturing & supply chain interruptions brought on by lockdowns and limitations. To lessen the consequences of the epidemic, governments throughout the world undertook a variety of economic stimulus initiatives. Energy policy and incentives for energy-efficient technology like BEMS may be affected by these initiatives.

Related Reports:

  • Cloud Object Storage Market - The Cloud Object Storage Market is expected to reach USD 18.4 Billion by 2032 at 13.50% CAGR during the forecast period 2023-2032
  • Visual Analytics Market - The Visual Analytics Market is anticipated to reach USD 31.4 Billion by 2030 at a 19.30% CAGR during the forecast period 2022-2030
  • Facility Management Services Market The Facility Management Services Market is projected to reach USD 1323.62 Billion by 2030 at a 7.73% CAGR during the forecast period 2022-2030

Regional Analysis 

North America to Head Building Energy Management System Market 

In 2022, this market was headed by the North American market (45.80%). Due to the increasing usage of smart grids & investments in infrastructure, it is projected that the United States and Canada will present business prospects. According to the IEA, investments in energy networks will increase by 10% in 2021, and the United States will be one of the top countries making infrastructure investments. Additionally, the region's need for the smart energy has increased substantially, which has prompted investors to fund EMS. The largest demand for the IoT-based solutions is projected to be in the building, residential, and commercial sectors. Additionally, the North American market in the US grabbed the biggest market share, while the market in Canada had the quickest rate of expansion. In 2021, the market was led by North America. The manufacturing industry in the area has expanded as a result of several government initiatives. For instance, the government-has sponsored initiatives such as "Make in India" & "Made in China 2025" have both contributed to the expansion of the manufacturing industry. The building energy management system will get more prevalent in companies over the next several years due to the region's rapid expansion in the manufacturing sector.

Browse through more Information And Communications Technology Research Reports.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Also, we are launching "Wantstats" the premier statistics portal for market data in comprehensive charts and stats format, providing forecasts, regional and segment analysis. Stay informed and make data-driven decisions with Wantstats.


Market Research Future (Part of Wantstats Research and Media Private Limited)

99 Hudson Street, 5Th Floor

New York, NY 10013

United States of America

+1 628 258 0071 (US)

+44 2035 002 764 (UK)