Market Snapshot:
Next-Generation Building Energy Management Systems represent an evolution in the technology and capabilities of traditional building energy management systems. It is an advanced system that integrates smart sensors, Internet of Things devices, data analytics, and artificial intelligence algorithms to optimize energy usage, improve building performance, and enhance occupant comfort. Next-generation BEMS enable real-time monitoring and control of various building systems, including HVAC (heating, ventilation, and air conditioning), lighting, and equipment, allowing facility managers to identify energy inefficiencies, implement energy-saving measures, and adjust settings remotely. It incorporates predictive maintenance capabilities to anticipate equipment failures and optimize maintenance schedules, further reducing energy waste and operational costs. Next-generation BEMS play a crucial role in supporting sustainability initiatives, reducing greenhouse gas emissions, and driving energy efficiency in buildings across various sectors, including commercial, residential, and industrial.
Highlights from Next-Generation Building Energy Management Systems- Market Study
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 25.5% |
The key Players profiled in the report are Honeywell International Inc. (United States), Johnson Controls (United States), Schneider Electric (France), Siemens (Germany), ABB (Switzerland), CBRE (United States), Cisco Systems, Inc. (United States), DAIKIN INDUSTRIES, Ltd. (Japan), GridPoint (United States) and Azbil Corporation (Japan). Additionally, other players that are part of this comprehensive study are Eaton (United States), One Sightsolutions Ltd (United Kingdom), Accenture (Ireland), THE BOUYGUES GROUP (France) and Albireo Energy, LLC (United States).
Geographic Breakdown and Segment Analysis
The Global Next-Generation Building Energy Management Systems- market presents a comprehensive analysis of the Next-Generation Building Energy Management Systems- market by product type (Software, Service and Hardware), by end-user/application (Commercial Buildings, Manufacturing facilities, Educational institutions and hospitals, Government establishments and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Next-Generation Building Energy Management Systems- industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Next-Generation Building Energy Management Systems- market
Analyst at AMA have segmented the market study of Global Next-Generation Building Energy Management Systems- market by Type, Application and Region.
Influencing Trend:
The trend towards smart buildings leverages IoT and automation technologies
Market Growth Drivers:
Increased competition among BEMS vendors and rapid innovation in the industry and Increasing awareness and understanding of artificial intelligence (AI) and analytics in the industry
Challenges:
Scalability challenges can emerge when handling substantial data volumes
Restraints:
Implementing and maintaining next-generation BEMS can involve significant upfront costs
Opportunities:
Contribution to the reduction of greenhouse gas emissions and alignment with corporate sustainability objectives.
Market Developments Activities:
In March 2018, Lucid was acquired by Acuity Brands, the LED lighting provider that’s gobbled up a number of smart building startups in recent years. “Lucid will leverage Acuity Brands’ extensive investments in building sensor networks, integration, and controls to extend the capabilities of the platform” and will “continue to grow BuildingOS as an independent and open platform,” led by current executives including CEO Will Coleman and co-founder Vladi Shunturov, Acuity.
In January 2024, Honeywell introduced Advance Control for Buildings, a revolutionary platform representing a significant leap forward in building control innovation for the company. This groundbreaking solution is meticulously crafted to streamline building management and serve as the cornerstone for implementing energy efficiency strategies. Advance Control leverages cutting-edge technologies alongside Honeywell's decades of innovation and domain expertise, embodying a holistic approach to modern building control systems. and In August 2023, Redaptive, a leader in Energy-as-a-Service, unveiled a new digital platform designed to monitor and analyze building energy consumption data, delivering actionable insights for facility managers and professionals in energy and sustainability. This solution evaluates building performance, streamlines sustainability reporting, and aids in optimizing energy conservation efforts.
Major companies such as Honeywell International Inc., Siemens AG, Schneider Electric SE, and Johnson Controls International plc. Are provide comprehensive BEMS solutions that incorporate advanced technologies such as IoT devices, data analytics, and artificial intelligence (AI) algorithms to optimize energy usage, improve building performance, and enhance occupant comfort. There is a growing ecosystem of specialized startups and niche players offering innovative BEMS solutions focused on specific market segments or technological capabilities. These companies specialize in predictive maintenance, energy analytics, cybersecurity, or interoperability, providing unique value propositions to customers seeking solutions for their buildings. As competition intensifies, companies are focusing on innovation, partnerships, and strategic acquisitions to differentiate themselves and capture market share in this growing industry
Key Target Audience
Manufacturing, Providers, Suppliers and Others