Building Energy Management System Market to Rear Excessive Growth During 2025
Building
energy management system (BEMS) is an advanced method to monitor and
control the energy requirement of a building. BEMS is a
computer-based system which provides monitoring and controlling
features for a building’s mechanical and electrical equipment,
providing ventilation, power, and lightning systems. BEMS has evolved
with an increasing focus on usage of data in commercial buildings
powered by technology trends such as Internet of Things (IoT) and
cloud networking.
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Building
energy management system is a vital component to manage the demand
for energy in a large complex or multi- building site. There is a
significant difference between BEMS and other control systems as the
former provides distinctive features such as communication,
information of processes, and other remotely-operated roles which can
be controlled through a central point or a single operating unit.
Technological developments in the BEMS hardware for sensors and
communication highways and computer processing power have rendered
BEMS a preferred management system. BEMS not only created rapid
developments but has also significantly reduced the cost of
management systems. Advancement in technology has also amplified the
possibilities of usage of BEMS. In addition, it is now possible to
monitor multiple buildings at the same time and integrate their
tasks. The heating and the cooling requirements among buildings can
be combined, resulting in energy saving and management of an
individual building to the optimum. BEMS also improves energy
efficiency and utilization by restructuring the operation of the
equipment which it controls and monitors. Improved energy efficiency
leads to increased protection of the environment by reducing the use
of resources.
The
growth rate for BEMS installation varies considerably across regions
with the dominant contributions coming from the developed nations. At
the national, state, and local levels, government policies play an
important role in promoting the usage of BEMS; however, the
uncertainty in demand has created challenges for the BEMS market. The
future of the BEMS market depends on the cost of technology,
enactment of supportive measures and economic incentives, investor
interest, consumer awareness, certification, and quality assurance.
The
BEMS market is majorly driven by the advancement of technology and
innovations in the global and regional market. Price of BEMS varies
based on numerous factors such as installation cost, space
availability.
Based
on application, the BEMS market can be divided into industrial,
commercial, and residential. The commercial and industrial segments
are expected to remain attractive during the forecast period.
In
terms of type, the BEMS market can be classified into software,
hardware, and services designed to address specific needs of
customers.
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Based
on region, the BEMS market can be segmented into North America, Asia
Pacific, Europe, Latin America, and Middle East & Africa. Asia
Pacific is expected to lead the BEMS market during the forecast
period, followed by Europe. The dominance of Asia Pacific is
primarily due to large number of installations of BEMS in China,
Japan, India, and South Asian nations. The BEMS market in Asia
Pacific is anticipated to expand at a significant pace during the
forecast period due to the increase in demand for residential and
industrial buildings.
Key
companies operating in the BEMS market include Honey well
international, GE digital Energy, Johnson, Schneider Electric, ABB
Ltd., BuildingIQ Inc., Cylon Controls, EnerNoc Inc., eSight Energy,
and Siemens.
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