Currently, the world is facing two important trends: rise in fossil fuel prices and concerns about climate change. Both these trends encourage for energy conservation. The World Business Council for Sustainable Development (WBCSD) has reported that the buildings are one of the top five energy consuming facilities. The building facilities account for 40% of the total primary energy consumptions in the developed nations. According to the study, it is forecast that the current trends in the building energy demand will stimulate half the investment done in the energy supply by 2030.
The prospect building energy management system can offer for energy savings is mostly unexploited today as several building owners and operators are unaware of how the data driven optimizations can diminish energy consumption. The most energy consuming areas in the building are HVAC systems, office equipment, catering, fan, pumps and controls. The energy consumption in building facilities, which encompasses mainly the use of fossil fuels, adds to air pollution with adverse impacts on public health and also damages the environment. Carbon dioxide emissions from fossil fuels cause global warming and eventually climate change. Other damaging emissions include oxides of sulphur and nitrogen which cause acid rain. The main benefits that are incurred by BEMS are cost saving, reduction in fossil fuel consumption, balanced environment and exemption from stringent regulation and tax benefits.
ABB, Accenture, Cisco, Emerson Electric, General Electric, Hitachi, Honeywell, IBM, Ingersoll Rand Security Technologies, Johnson Controls, and Schneider Electric are some of the leading vendors offering BEMS. Also, some of the private players who cater to the building energy management system market with their innovative offerings are categorized as the key innovator in the research report.
MarketsandMarkets has segmented the global building energy management system market by software, service, vertical and region. The market research report analyzes global adoption trends, future growth potential, key drivers, restraints, opportunities, and best practices in this market.
On the basis of software:
The building energy management system market is segmented on the basis of software such as data management, asset performance optimization, application platform, HVAC system, and lighting system.
On the basis of communication technology:
This market is segmented on the basis of communication technology into wired and wireless.
On the basis of service:
This market is segmented on the basis of services into consulting & training and support & maintenance services.
On the basis of industry:
This market is segmented on the basis of verticals which include manufacturing, telecom and IT, office and commercial buildings, Municipal, University, School and Hospital (MUSH) systems, and government.
On the basis of regions:
The building energy management system market is classified on the basis of regions into North America (NA), Europe, Latin America (LA), Asia-Pacific (APAC), and Middle East and Africa (MEA).