Nov 30, 2021 (AmericaNewsHour) -- Research Nester published a report titled "Building energy management systems Market: Global Demand Analysis & Opportunity Outlook 2028" which delivers a detailed overview of the building energy management systems market in terms of market segmentation by component, by communication technology, by end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter's five force model.
The World is facing major climate changes and a rise in fossil fuels and both inspire energy conservation. According to a report by WHO, published on January 22, 2020: Decarbonizing our cities and buildings is both essential and very complex but digitalization will be a major enabler of this revolution. The report emphasized to control the climate change we need to transform our cities and building.
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Building energy management system (BEMS) is an advanced system to monitor and control the energy necessity of a building. BEMS is a computer-based system that delivers monitoring and controlling features for a building's mechanical and electrical equipment, delivering ventilation, power, and lighting systems. The key benefits that are incurred by installing BEMS are cost-saving, a decrease in fossil fuel consumption, a balanced environment, and exemption from strict regulations and tax benefits.
The building energy management systems market is expected to witness high growth during the forecast period, i.e., 2020-2028. The market is segmented by component, communication technology, end-user, and region. Among product component segmentation, the software segmentation is expected to drive the major market growth owing to the integration of data analytics software in existing modules that assist organizations to run algorithms for optimized solutions and also reduce the carbon footprints.
"The Final Report will cover the impact analysis of COVID-19 on this industry."
Based on regional analysis, the building energy management systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
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North America is anticipated to dominate the global building energy management systems market in the forecast period owing to technological maturity, and the massive growth of the industrial sector in the region, widespread adoption of building energy management systems across verticals, and major dominant players present in the region.
Europe is projected to observe a decent growth owing to favorable government projects, environmental concerns, and high adaptation of technology. The Asia Pacific region is predicted to experience the fastest growth in the forecast period owing to the high adaption of technology, rising commercial and residential development, rapid industrial development, rebates, and tax incentives from various administrations across the region, particularly in China, Japan, and India.
Latin America and the Middle East & Africa also signify immense possibility in terms of the adaptation of building energy management systems solutions.
The arrival of innovative technologies accompanied by the growth of existing technologies
Innovations in the global and regional markets are taking place with the advent of new technologies such as IoT, cloud networking, and others. This has contributed towards advanced building energy management systems and the systems that are capable of performing integrated tasks for the whole building.
However, a huge initial investment for design & installation, high operation & maintenance costs, and establishing appropriate policies for the building energy management systems can contribute towards the growth of the building energy management systems market.
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This report also provides the existing competitive scenario of some of the key players of the building energy management systems market which includes company profiling of Schneider Electric (epa:SU), Siemens (etr:SIE), Honeywell International Inc (NAS:HON) , Elster Group GmbH, Johnson Controls (NYS:JCI) , GridPoint, C3.ai, Inc., General Electric (NYS:GE) , Cisco Systems, Inc. (NAS:CSCO) , ABB (NYS:ABB) . The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the building energy management systems market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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