Industry Background:
The building energy modeling or energy simulation is also known as building simulation, Building performance simulation (BPS). The BPS is defined as the use of computational mathematical models to represent the physical characteristics, expected or actual operation, and control strategies of a building (or buildings) and its (their) energy systems. The building sector consumes about 40% of primary energy in the United States and European countries and about 25%-30% in developing countries like China. In the United States, federal, state, and local governments set stringent energy goals for new and existing buildings. For example, in the 2016 multi-year program plan (U.S. Department of Energy 2016), the U.S. Department of Energy’s Building Technologies Office set a goal to reduce the energy use intensity (EUI) of buildings by 30% by 2030 and 50% over the long-term. At the state level, California’s long-term energy efficiency strategic plan (California Public Utilities Commission 2008) stipulates that all new residential buildings must be zero-net-energy (ZNE) by 2020, all new commercial buildings must be ZNE by 2030, and 50% of existing commercial buildings must be retrofitted to ZNE by2030
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | The Green Engineer (United States), BIMBOSS CONSULTANTS (India), PCD Engineering, Inc. (United States), Energy Swift (India), GARD Analytics (United States), CAD Outsourcing Services (India), Epstein (United States), R Group, LLC (United States), Altensis (Turkey), New York Engineers. (New York) and Taitem Engineering (New York) |
This growth is primarily driven by The increasing the effectiveness of the building and reducing the energy consumption level by deploying assorted equipment which is generally utilized for applications such as underfloor air distribution systems.
Globally, a noticeable market trend is evident The increasing environmental and energy concerns that arise from increasing construction activities across the globe The Business Services sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as The Green Engineer (United States), BIMBOSS CONSULTANTS (India), PCD Engineering, Inc. (United States), Energy Swift (India), GARD Analytics (United States), CAD Outsourcing Services (India), Epstein (United States), R Group, LLC (United States), Altensis (Turkey), New York Engineers. (New York) and Taitem Engineering (New York), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Developments in the Market:
On 26th February 2020, Honeywell announced the launch of Honeywell Forge Energy Optimization, a cloud-based, closed-loop, machine learning solution that continuously studies a building's energy consumption patterns and automatically adjusts to optimal energy saving settings without compromising occupant comfort levels.
Influencing Trend:
The increasing environmental and energy concerns that arise from increasing construction activities across the globe
Market Growth Drivers:
The increasing the effectiveness of the building and reducing the energy consumption level by deploying assorted equipment which is generally utilized for applications such as underfloor air distribution systems
Restraints:
Low Awareness Related to Green Building Eco-system in Under Developed Economies
Opportunities:
Government agencies are focusing on implementing regulatory standards to reduce the effect of carbon emissions and have focused on the construction of green buildings for sustainable growth worldwide.
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Building Performance Simulation (BPS) Market
- Analysis about New Entrants in Building Performance Simulation (BPS) Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Building Performance Simulation (BPS) Study Sheds Light on
The Building Performance Simulation (BPS) Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Building Performance Simulation (BPS) industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Building Performance Simulation (BPS) industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.