Building Energy Management Systems Market Trends

Growth Drivers

Evolution of technology

Emerging technologies such as the Internet of Things (IoT) and cloud networking are surfacing as a major contributor for more advanced systems. It has been observed that to monitor multiple buildings at the same time and integrate their tasks have become feasible. The heating and the cooling necessities among buildings can be pooled, resulting in energy saving and management of an individual building to the optimal.

Innovations in the global and regional markets are taking place with the majority of dominant players coming up with improved solutions. These factors are driving the growth of the building energy management systems market.

Challenges

Huge investment and deployment

The market growth might be hampered by enormous initial investment for design and installation, high operation and maintenance cost, and establishing appropriate policies for the building energy management systems.

Building Energy Management Systems Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	8.2%
Base Year Market Size (2023)	USD 13.24 billion
Forecast Year Market Size (2036)	USD 36.88 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of building energy management systems is assessed at USD 14.11 billion.

Building Energy Management Systems Market size was valued at USD 13.24 billion in 2023 and is expected to reach USD 36.88 billion by 2036, registering around 8.2% CAGR during the forecast period i.e., between 2024-2036.

North America industry is set to dominate majority revenue share by 2036, owing to technological maturity, well-established infrastructure network, widespread adoption of building energy management systems across verticals, and massive growth of the industrial sector in the region.

The major players in the market are Schneider Electric, Siemens, Honeywell International Inc, Elster Group GmbH, Johnson Controls, GridPoint, C3.ai, Inc., General Electric, Cisco Systems, Inc., ABB, and others.

Building Energy Management Systems Market Trends