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.
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.
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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.
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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.
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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