Building Energy Management System (BEMS) Market Overview

Building Energy Management System refers to an advanced system leveraging IoT, analytics, and cloud platforms to continuously monitor, assess, and optimize energy utilization across residential and commercial buildings. BEMS provides centralized control alongside data-driven automation and AI-powered recommendations to minimize wastage and carbon footprint.

According to Market Research Future (MRFR), the global Building Energy Management System market was valued at USD 5.9 billion in 2023 and is slated to grow at a CAGR of 13.20% from 2023 to 2032. Market growth is fueled by rising electricity prices, need to reduce operational expenditure through optimized usage as well as green building standards mandated by governments worldwide.

Market Segments

By component, the BEMS market is divided into hardware, software, and services. Hardware like sensors, meters, and data aggregators account for the largest share. The software delivers visibility, management, and analytics leveraging the field data.

Based on application, energy management across commercial buildings makes up the majority building energy management system spending. Rapid IoT and cloud adoption are driving demand across smart workplaces.

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Regional Insights

During 2021, Europe dominated the global BEMS market supported by high electricity rates across EU states as well as stringent regulations around sustainable energy use in buildings.

The Asia Pacific region is predicted to exhibit the fastest growth rate in the coming years powered by growing building construction pipelines across China, Southeast Asia, and India alongside strong government impetus on energy conservation and environmental reforms.

Key Building Energy Management System Companies

Notable players operating in the global Building Energy Management System Market Share include Schneider Electric, Honeywell, Johnson Controls, Siemens AG, United Technologies Corporation, ABB, Azbil, Cylon, Daikin, and Emerson Electric. These companies actively enhance their software functionalities and predictive capacities harnessing emerging technologies. They also leverage partnerships to consolidate market presence.

Advantages of Building Energy Management Systems

Key benefits delivered by BEMS include:

1. Energy Savings and Emission Reduction through optimization of HVAC, lighting, etc. across fluctuating occupancy and climates.
2. Enhanced Equipment Lifecycles via analytic insights predicting maintenance needs before breakdowns.
3. Improved Safety and Comfort by monitoring critical parameters and automatically adjusting environments.
4. Centralized Control provides ease of monitoring and quicker response coordination.
5. Sustainability Goal Compliance by accelerating the transition to renewable energy sources across facilities.

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