by Brianna Crandall — April 7, 2014—International market research and data source Research and Markets has announced the addition of a report on the growing global building energy management solutions (BEMS) market to its online offerings. The Global Building Energy Management Solutions Market Forecast & Opportunities, 2018 report was published by TechSci Research in January.
In the global building energy management solutions market, North America accounts for the majority of the demand due to various policy initiatives taken by the governments, coupled with the growing number of smart buildings in the region. However, the BEMS market in the Asia-Pacific (APAC) and South America regions is expected to grow faster compared to other regions in coming years.
In the commercial segment, the BEMS market is largely being driven by the growing demand for these solutions in enterprises/offices and retail applications on account of rapid urbanization, construction of new buildings, increasing information technology (IT) spending, increasing adoption of energy-efficient solutions, etc. Further, growth in the hospitality and educational building sectors is also contributing to the overall market of building energy management solutions, the research shows.
According to the report, the market revenues of global building energy management solutions are forecast to grow at a compound annual growth rate (CAGR) of around 19% during 2013-18. The demand for energy management solutions in buildings is primarily driven by the North America and Europe regions, due to aggressive government policies and regulatory support. This is said to be further supported by various incentives and labeling programs.
It is expected that increasing adoption of renewable energy technologies like rooftop solar photovoltaic (PV) power plants and wind farms, and energy-efficient hardware such as window glass, would drive the market over the next five years.
The companies involved in providing energy management solutions are predominantly focusing on new buildings rather than retrofit solutions, as the former offers comparatively higher energy savings potential, notes the report. In addition, installation of energy management solutions in new buildings is considered relatively simpler.
Companies mentioned:
- ABB Ltd.
- Azbil Corporation
- CBRE Group Inc.
- CISCO System Inc.
- Cylon Control Ltd.
- Daikin Industries Ltd.
- Eaton Corporation Plc
- Echelon Corporation
- Ecova Inc.
- EnerNOC Inc.
- General Electric Industrial Solutions
- Honeywell International Inc.
- International Business Machines Corporation
- Johnson Controls Inc.
- Lennox International Inc.
- Schneider Electric SA
- Servidyne Inc.
- Siemens Building Technologies
- Trane Incorporated
- United Technologies Corporation
The information contained in this report is based upon both primary (interviews) and secondary (exhaustive research) sources. All report purchases include up to 45 minutes telephone time (within two months) with an Industry Analyst, who will help purchasers link key findings in the report with the business issues they are addressing.
