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North America Building Energy Management System Market Size Share Trends Growth Demand and Competitive Analysis Insights 2022-2029 | DataM Intelligence

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North America Building Energy Management System Market Size Share Trends Growth Demand and Competitive Analysis Insights 2022-2029 | DataM Intelligence

August 08
14:26 2022
North America Building Energy Management System Market Size Share Trends Growth Demand and Competitive Analysis Insights 2022-2029 | DataM Intelligence
DataM Intelligence
North America Building Energy Management System Market is expected to grow at a high CAGR during the forecasting period (2022-2029).

Market Overview:

Building energy management systems (BEMS) are control and monitoring systems used to monitor and control the energy needs of a building. The systems can provide a more pleasant indoor environment and cost-effective building operation in terms of both energy and personnel. The BEM systems can be used in both residential and commercial buildings.

The building energy management systems comprise building control and management functions such as heating, ventilation, air conditioning (HVAC), lighting, fire alarm system, security, maintenance and energy management. These systems involve computers and distributed microprocessors for monitoring, data storage and communication. BEMS systems can be installed via wired or wireless systems with maintenance contracts or manufacturer installations. Remote outstations for building energy management systems could be accessible via mobile or smart devices. Building energy management systems enable building owners and operators to be aware of data-driven optimizations to reduce energy usage, resulting in energy savings.

Market Size Growth Rate:

As per the research report published by DataM Intelligence, the building energy management system (BEMS) market in North America was valued at USD YY billion in 2021; it is projected to reach USD YY billion by 2029, with growth at a CAGR of YY% over the forecast period 2022-2029. Governments and companies strive to adopt new energy-saving technologies due to increasing energy usage. Rising energy costs and the growing need to reduce energy wastage are major driving factors for the market’s growth in the forecast period. 

Market Drivers:

With growing concerns about rising energy usage and the drive to implement energy efficiency solutions, the demand for BEMS is expected to grow significantly. Energy conservation has a significant impact on the national economy. BEMS aims to reduce energy consumption by changing energy users’ mindsets and behavioral patterns. Building energy management systems control the energy needs of residential and commercial buildings, resulting in efficient and cost-effective energy utilization.

Market Restraints:

Over the forecast period, high deployment costs will hinder the growth of the North American Building Energy Management Systems (BEMS) industry. Hardware and software are tailored to meet specific requirements, which increases costs. Ongoing expenditures for system usage, servicing and maintenance are assessed monthly, quarterly or annual, according to various metrics per building or a single annual fee. Companies are hesitant to make substantial investments in BEMS for small returns. The above factors are primary restraints, slowing the industry’s growth rate.

Market Opportunities

The leading players in the building energy management system (BEMS) market strive for personalized products for clients. Building energy management systems can provide personalized digital daily & monthly energy analytics reports, delivered in easy-to-understand charts, graphs and results, thereby removing the hassle of manually reading, tracking and assessing renovations and savings for any residential, commercial, recreational or industrial facility. Reducing energy consumption through process optimization and efficient load planning enhances the productivity of industrial processes in general. 

 

Download free sample @ https://www.datamintelligence.com/download-sample/north-america-building-energy-management-system-market

 

COVID-19 Impact Analysis

The COVID-19 pandemic impacted North America’s building energy management system (BEMS) market. During the COVID-19 pandemic, the construction activities and the installation of BEMS in commercial and residential buildings were impacted due to lockdowns imposed across the region. The lockdowns also hampered the manufacturing of hardware components for BEMS. However, energy usage is likely to increase significantly with the receding of the pandemic. The adoption of energy-saving technologies will rise in conjunction with growing energy usage. Hence, the demand for BEMS will likely increase in the coming years, contributing to the market’s growth. 

Market Challenges:

The hardware and software offerings for building energy management systems (BEMS) are increasingly sophisticated and advanced. Integrating with and incorporating emerging technologies such as machine learning and artificial intelligence presents challenges for the market in North America. 

Recent Developments in the Industry:

  1. In October 2021, ABB announced an investment in BrainBox AI, a Canada-based startup, as part of its goal to make buildings smarter, safer and more secure while boosting energy efficiency and lowering carbon emissions.
  2. In January 2022, Cisco Systems Ltd., a major U.S.-based network and automation solutions provider, announced the expansion of its Cisco Catalyst 9000 range, built on the powerful Unified Access Data Plane (UADP) ASIC silicon, to provide more enterprise-grade switching capabilities for industries like as utilities, oil & gas, highways and rail. 
  3. C3.ai, a U.S.-based software AI solutions provider, has announced the debut of Smart Institutions, an AI-powered, holistic Energy-as-a-Service software solution for large institutions, in collaboration with global energy giant ENGIE in October 2019.

Market Segmentation:

As per the research analysis, the market for building energy management systems (BEMS) in North America is segmented by product type into software, hardware and services, by communication technology into wired systems and wireless systems and by building type into commercial, residential and industrial and by country into U.S., Canada and Mexico. Product type is segmented into software, hardware and services.

  1. Software is essential in energy management systems (BEMS) for managing energy demand, especially in large complex buildings and multi-building sites. The BEMS software provides control functions, monitoring and alarms and allows the operators to optimize building performance. Various new software has been launched to optimize the efficiency of BEMS.
  1. Hardware is the most crucial component of the BEMS. Rapid advancements in BEMS hardware, such as sensors and communication highways, have made BEMS a preferred management system. The rapid developments significantly reduced the costs of a sophisticated management system. Technological advances have also improved the opportunities for a BEMS and, therefore, increased its potential.
  1. Services mainly include testing and maintenance. A BEMS must be maintained and tested regularly to continue controlling plants and systems to fulfill specified environmental conditions and energy efficiency criteria. Improved occupant productivity is one of the significant benefits of BEMS maintenance. The internal environment will deteriorate if temperature and pressure control-loop tuning, sensor calibration and setpoints are not frequently maintained. BEMS and controls maintenance would be a good investment, offering precise control and cost savings of these services. 

Geographical Classification:

According to the report, the North American building energy management system (BEMS) market is divided into the major countries, i.e., U.S., Canada & Mexico.

U.S: The largest consumers of energy in U.S. are commercial and residential structures, which contribute significantly to greenhouse gas emissions. Rising energy consumption in U.S. boosts building energy management schemes to reduce/manage building energy use, reduce electricity bills while increasing occupant comfort and productivity and improve environmental stewardship without adversely affecting living standards. The growth of the commercial sector in U.S., such as hotels, malls and office buildings, which require automation systems to control overheating and provide a fire-safe environment, is expected to boost the adoption of building energy management systems forecast period.

Canada: The industrial sector is registering rapid growth in Canada, particularly for steelmaking and oil and gas production. Residential and commercial construction is also undergoing rapid growth. It will boost the market growth for BEMS in Canada.

Mexico: Construction is Mexico’s best-performing industry sector, including building materials and specialized knowledge such as sustainable building technologies. Growing foreign direct investment in various industrial sectors is expected to increase electricity demand in the coming years. In recent years, the cost of electricity has been rising in Mexico, prompting growing demand for energy conservation methods. It will create a growing demand for building energy management systems. 

 

Global report: https://www.datamintelligence.com/research-report/building-energy-management-systems-market

 

Competitive Analysis:

The major players adopt several growth strategies such as product launches, innovative technologies, acquisitions and collaborations, contributing to building energy management systems (BEMS) in the North American market. For example, IBM Corporation launched Maximo Mobile, a mobile app with the Maximo application platform, for remote monitoring of BEMS and control using mobile devices.

Major Companies:

Some key companies contributing to the market’s growth include ABB, Cisco Systems Inc, C3.ai, Inc, Engie, Honeywell International Inc, General Electric, BuildingIQ, Johnson Controls, Siemens AG and Schneider Electric among others.

Additional Benefits Post Purchase:

1) Unlimited Analyst support for a period of 1 year. 

2) Any query regarding the scope offered will be addressed within 24- 48 hours.

3) An excel sheet with market numbers will be provided separately.

The Full Report has the below insights.

  • The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021) and verifiable projections about market size during the forecast period (2022-2029).
  • Visualize the composition of the North American building energy management system (BEMS) market segmentation by product type, communication technology, building type and country, highlighting the key commercial assets and players. 
    • By Product Type: Software, Hardware and Services
    • By Communication Technology: Wired Systems, Wireless Systems
    • By Building Type: Commercial, Residential, Industrial 
    • By Country: U.S., Canada, Mexico
  • Identify commercial opportunities in the North American BIPV (building-integrated photovoltaics) glass Market by analyzing trends and co-development deals.
  • The report also covers data insights on various industry forces such as porter’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis and pricing analysis.
  • Excel data sheet with thousands of North American BIPV (building-integrated photovoltaics) glass Market-level 4/5 segmentation data points.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study. 
  • Product mapping in excel for the key product of all major market players
  • The report will provide access to approximately 50+ market data tables, 40+ figures and close to 180 pages. 

 

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