The perpetual growth in the world economy and the population has led to an increase in human settlements and industries, which have resulted in increased pollution levels and other forms of CO2 emissions at an alarming rate. According to United Nations Environment Programme (UNEP) report, approximately 80 to 90% of the energy consumption in buildings is utilized during a building's operational phase. The remaining 10 to 20%, is used during extraction and processing of raw materials along with construction.
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In 2016, the global population was growing at 1.13% and the global economic growth rate is 3.4%. Since the economic growth rate is currently higher than the population growth rate, the average standard of living has gradually increased in the recent years.
People are spending a greater degree of money on improving their lifestyles, with facilities such as - better lighting, air conditioning and other consumer electronics which consume high electricity. The increasing prices of electrical energy and high electrical energy consumption are some factors that have led building owners to switch towards energy management systems.
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Energy efficiency essentially refers to cost effective utilization of energy whereby energy waste and energy consumption is relatively minimized. Energy efficiency is critical for global economic and social development, therefore, it is essential to realize its significance.
Higher energy efficiency aid in minimizing an organization's operating cost and enhancing its profitability through better energy consumption management.
According to a new report by BIS Research, titled ‘Global Building Energy Management Systems Market, Analysis and Forecast: 2017 – 2023', the global building energy management systems market is expected to reach $9.32 billion by 2023. The increasing demand for reduction in energy consumption and greenhouse gas emissions along with concerns over climatic changes are some of the factors driving the overall market growth for this industry.
Few Companies Mentioned in the Report:
- ABB Ltd.
- Azbil Corporation
- BuildingIQ, Inc.
- C3 IoT
- Cylon Controls Ltd.
- Echelon Corporation
- EnerNOC, Inc.
- eSight Energy
- FirstFuel Software, Inc.
- GridPoint, Inc.
- Jones Lang LaSalle Incorporated
- Ingersoll-Rand PLC
- Optimum Energy LLC
- International Business Machines Corporation
- Siemens AG
- Ecova, Inc.
- Honeywell International Inc.
- SkyFoundry LLC
- Verisae, Inc.
- Schneider Electric
- Daintree Networks
- Johnson Controls, Inc.
- General Electric
- Powerhouse Dynamics
Key questions answered in the reports:
- What are the major market drivers, challenges and opportunities in the global building energy management systems market?
- What is the supply chain for the global building energy management systems market?
- What is the market value of building energy management systems market for different components (hardware and software) and services?
- What is the market value of building energy management systems market for different applications on the basis of residential, commercial and industrial?
- What is the market value of building energy management systems market on the basis of different geographical regions?
- Which geographical location will dominate the building energy management systems market?
- What will be the growth rate of different segments of the building energy management systems market during the forecast period?
- Who are the key players for the building energy management systems market?
- What are the key developmental strategies implemented by the key players to stand out in this market?
- What is the market share of the leading players in the global building energy management systems market for 2016?
- How attractive is the market for different stakeholders present in the market by using Porter’s Five Forces model?
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