Next-Generation Building Energy Management Systems Market
Next-Generation Building Energy Management Systems Market Share is Predicted to Reach US$ 5.6 Billion by 2030 Registering a CAGR of 10.90%
Next-generation building energy management systems are a type of building management system (BMS) that use IoT, cloud computing, data analytics, and artificial intelligence technologies to optimize energy usage and building performance. These systems go beyond traditional BMS by using real-time data and machine learning algorithms to make data-driven decisions that reduce energy consumption and optimize operational efficiency.
Next-generation building energy management systems may include features such as advanced analytics, automated controls, predictive maintenance, and fault detection and diagnostics. The goal of these systems is to improve energy efficiency, reduce operating costs, and enhance occupant comfort and productivity. There are various software and service providers in the market developing and offering next-generation building energy management systems.
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Competitive Analysis
The Global Next-Generation Building Energy Management Systems Market is characterized by the presence of several regional and local providers. Some of the Key Players in the market are Honeywell, Johnson Controls, Schneider Electric, Siemens, ABB, CBRE Group, CISCO, Daikin, and Echelon, GridPoint among others.
Segmental Analysis
The Global Next-Generation Building Energy Management Systems Market has been segmented based on Type, Communication Technology, Application, and Region.
By Type, the market has been segmented into Software, Service, And Hardware. The software segment has been further segmented into data management, asset performance optimization, application platform, HVAC system, and lighting system. The service segment covers services such as consulting & training and support & maintenance services.
Consulting & training services held the largest share in the market. As the adoption of building management solutions across the globe increases due to the stringent regulatory environment, amended policy framework, operational efficiencies, cost containment, sustainability benefits, and changing business dynamics, the demand for consulting services increases. The market for the HVAC system software is expected to grow at the highest CAGR during the forecast period.
By Communication Technology, the market has been divided into wired and wireless.
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By Application, the market has been divided into commercial buildings, manufacturing facilities, educational institutions and hospitals, and government establishments.
The regions included in the study are North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Europe is expected to hold the largest share in the global next-generation building energy management systems market. 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.
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