Next-Generation Building Energy Management Systems Market Research Report - Global Forecast till 2027

Global Next-Generation Building Energy Management Systems Market Research Report: By Type (Software, Service, Hardware), Application (Wired, Wireless), Communication Technology (Commercial buildings, Manufacturing facilities, Educational institutions and hospitals, Government establishments), by Region (North America, Europe, Asia Pacific, Middle East, and Africa, South America) - Forecast till 2027

ID: MRFR/ICT/7217-HCR | February 2023 | Region: Global | 100 Pages         

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Next-Generation Building Energy Management Systems Market

Next-Generation Building Energy Management Systems Market is Predicted to Reach US$ 161.44 Billion by 2027 Registering a CAGR of 17.2%
Market Size
CAGR
Dominating Region
Forecast Period
$161.44 Billion
17.2%
Europe
2021–2027
Segmentation
By Type
By Communication Technology
By Application
  • Software
  • Service
  • Hardware
  • Wired and Wireless
  • Commercial buildings
  • Manufacturing facilities
  • Educational institutions and hospitals
  • Government establishments
Companies Profiled
Key Players
Honeywell
Johnson Controls
Schneider Electric
Siemens
ABB
CBRE Group
CISCO
Daikin
Echelon
GridPoint
Market Driving Forces
Drivers
Significant cost benefits to industrial
Commercial
Residential users
Increasing demand for energy-efficient and eco-friendly buildings
Growing integration of IoT
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Market Snapshot


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.


Key Players


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.


Key Developments



  • October 2018: Honeywell announced its plan to acquire Transnorm, a leading provider of warehouse automation solutions.



  • April 2018: Johnson Controls acquired the assets of Triatek, a leading manufacturer of innovative airflow solutions for critical environments across the globe.



  • March 2018: Schneider Electric and AVEVA created a joint venture to form a global leader in engineering and industrial software with scale and relevance in key markets as well as an unmatched set of solutions covering all aspects of digital asset management from process simulation to design, construction and manufacturing operations management and optimization.


Market Segmentation


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.


Regional Analysis


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



  • What was the historic market size (2018)?

  • What will be the growth rate by 2025?

  • Who are the key players in this market?

  • What are the strategies adopted by key players?



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 161.44 Billion
  CAGR   CAGR 17.2%
  Base Year   2020
  Forecast Period   2021–2027
  Historical Data   2019
  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


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Frequently Asked Questions (FAQ) :

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.