|Market Driving Forces|
|Significant cost benefits to industrial|
|Increasing demand for energy-efficient and eco-friendly buildings|
|Growing integration of IoT|
Next-generation building energy management systems refer to a broad set of solutions that are used to facilitate energy-efficient building management facilities. These solutions are characterized by the convergence of traditional and innovative hardware, software, and services to enhance the control and automation of building systems and manual procedures. The major factors that drive the market for the next-generation building energy management systems market are significant cost benefits to industrial, commercial, and residential users, simplified building operations and maintenance, increasing demand for energy-efficient and eco-friendly buildings, and growing integration of IoT. The growing integration of IoT with building automation systems (BASs) is also driving the growth of the next-generation building energy management systems market based on software. The smart devices that are integrated for the purpose of building automation and management are expected to be more self-governing and intelligent in terms of sharing data with BASs and the cloud.
The Global Next-Generation Building Energy Management Systems Market is expected to register a CAGR of 15.3% during the review period, 2019–2025.
The Global Next-Generation Building Energy Management Systems Market is characterized by the presence of several regional and local providers. Some of the Key Players in the market are Honeywell, Johnson Controls, Schneider Electric, Siemens, ABB, CBRE Group, CISCO, Daikin, Echelon, and GridPoint among others.
The Global Next-Generation Building Energy Management Systems Market has been segmented based on Type, Communication Technology, Application, and Region.
By Type, the market has been segmented into software, service, and hardware. The software segment has been further segmented into data management, asset performance optimization, application platform, HVAC system, and lighting system. The service segment covers services such as consulting & training and support & maintenance services.
By Communication Technology, the market has been divided into wired and wireless.
By Application, the market has been divided into commercial buildings, manufacturing facilities, educational institutions and hospitals, and government establishments.
The regions included in the study are North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
Geographically, the global next-generation building energy management systems market has been categorized into four regions, namely North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Europe is expected to hold the largest share in the Global Next-Generation Building Energy Management Systems Market in 2018. The region has been an early adopter of the BMS, which has boosted the demand for BMSs in this region, leading to a higher share in the market. The presence of a large number of players in the region is driving the market. Asia-Pacific is anticipated to expand at a significant pace during the forecast period due to the increase in demand for the construction of residential and industrial buildings.
Key Questions Addressed by the Report
|Market Size||USD 161.44 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific|
|Key Vendors||Honeywell Johnson Controls Schneider Electric Siemens ABB CBRE Group CISCO Daikin Echelon GridPoint|
|Key Market Opportunities|
|Key Market Drivers||Growing integration of IoT|
By 2025, the CAGR of the next-generation building energy management systems market is estimated to be 15.3%.
Software, service, and hardware are the segments of the next-generation building energy management systems market based on type.
The segments of the next-generation building energy management systems market, by communication technology, are wired and wireless.
The application-based segments of the next-generation building energy management systems market are commercial buildings, educational institutions and hospitals, manufacturing facilities, and government establishments.
The players participating in the next-generation building energy management systems market are Honeywell, Schneider Electric, Johnson Controls, Siemens, CBRE Group, ABB, CISCO, Echelon, Daikin, and GridPoint.