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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Building Energy Management Systems (BEMS) market. Market segmentation includes Component (Services, Software, and Hardware); Application (Commercial, Residential, and Industrial).

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24 November 3:44 a.m., Silicon Valley, California - According to the new market research report, the global market for Building Energy Management Systems (BEMS) is projected to grow at a CAGR of 12.4% to reach US$8.4 billion by 2027, driven by expanding applications, and growing infrastructure for telecommunication and information systems including data centers known for their energy appetite. The global Building Energy Management Systems market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Services, one of the segments analyzed and sized in this study, is forecast to grow at over 13.4% and reach a market size of US$4.5 billion by the end of the analysis period. The United States is forecast to readjust to a 11.1% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$703 million growing at a CAGR of 12% over the next couple of years. In addition, over US$435 million worth of projected demand in the region will come from Rest of European markets. In Japan, the Software component segment will reach a market size of US$220.8 million by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Commercial application segment in this country against this backdrop will grow at a CAGR of 17.6% over the next couple of years to create an addressable market opportunity worth US$578 million by the year 2027.

Evolving from other energy saving technologies in the energy sector, BEMS has emerged as one of the most innovative and fastest-expanding segments in the global building industry. Technological advancements such as wireless networks, intelligent automation systems, adaptive control systems, distributed energy generation, and integrated building designs are accelerating adoption of energy management systems at residential and non-residential buildings. Building owners and managers are increasingly realizing the utility of BEMS in lowering energy consumption and enhancing operational performance of facilities as well as gaining valuable insights into the occupancy trends in their buildings. In response to the growing penetration of smart grid and smart home technologies, BEMS products are evolving beyond the core functions of energy analytics and energy visualization into adjacent areas such as property management and demand response. These next generation BEMS solutions are expanding the frontiers of the market, paving the way for the entry of new participants. As a result, the BEM market is increasingly shifting away from a BAS driven environment to a BEMS centric environment. Bourgeoning population, growing urbanization and rapid industrialization remains some of the major reasons behind rising energy demand. Building Energy Management System (BEMS) allow end users to easily monitor, control, and manage electricity consumption. Despite a number of technological and market challenges, and the current COVID-19 pandemic, the global BEMS market is expected to grow at a robust pace through 2027 buoyed by the growing pressure on the commercial sector to comply with green building standards and ongoing technological innovations that are improving the availability and effectiveness of BEMS for consumers of various scales and locations. Propelled by their capabilities of minimizing energy usage, the global market for BEMS is expected to witness significant growth over the analysis period. With an intention of improving efficiency, governments are now developing a wide range of innovative strategies. Under these mechanisms, they are offering tax credits for customers, along with introducing uniform energy standards and guidelines. All of these initiatives are fueling demand for optimum as well as smart energy management systems.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 24206. Among this pool, 2179 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 484 unique participations, a total of 218 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
General Electric Company
Azbil Corporation
Echelon Corporation
BuildingIQ, Inc.
eSight Energy Ltd.
Accruent LLC
Carma Industries, Inc.
Daikin Applied
C3 IoT
Cylon Active Energy

Segments Covered in the Report -
Component (Services, Software, Hardware)
Application (Commercial, Residential, Industrial)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Australia
India
South Korea
Rest of Asia-Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East
Iran
Israel
Saudi Arabia
UAE
Rest of Middle East
Africa.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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