LONDON--(BUSINESS WIRE)--The global next-generation building energy management systems (BEMS) market is expected grow at a CAGR of more than 11% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global next-generation BEMS market for 2016-2020. Based on end-user, the market is segmented into the following: commercial buildings, manufacturing facilities, educational institutions and hospitals, government establishments, and others.
Technavio’s research study segments the global next-generation BEMS market into the following regions:
- Americas
- EMEA
- APAC
Americas: largest next-generation BEMS market
The next-generation BEMS market is expected to be led by the demand from the Americas, which is expected to increase at a CAGR of 7.71% during the forecast period. The Americas is the largest regional player in the market, mainly because of the higher adoption rate of BEMS among end-users in this region than those in other regions. In addition, most big players in this industry such as Honeywell International and Siemens are concentrated in the Americas.
According to Anju Anajykumar, a lead analyst at Technavio for engineering tools, “The market in the Americas is poised for solid growth in the coming years. In terms of technology and investment, the US was the major revenue contributor in the region in 2014. The market in this country will continue to generate substantial revenue in the future, driven by maturity in the greater incorporation of BEMS to comply with government standards and the need for energy conservation.”
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Increased awareness and rising concerns about energy usage by end-users contributing to EMEA’s growth
Increased awareness and rising concerns about energy usage by end-users have contributed to market growth in the region. According to the European Commission, buildings account for 40% of the energy use. Therefore, the sector has huge savings potential and will aid in achieving the goal of reduced CO₂ emissions by 20% and achieving 20% renewable generation by 2020. The PPP on energy-efficient buildings under the European economic recovery plan attracted high participation.
According to the new EU framework program, Horizon 2020, a contractual PPP on energy-efficient buildings, will aim to innovative affordable building technologies and solutions, facilitating the road toward development of smart cities and application of BEMS. The European energy management standard EN16001 plays a crucial role in the implementation of BEMS across various sectors. It ensures the integration of these management systems into organizational business structures to save energy and costs, and improve business performance. Technological benefits combined with government support will provide the necessary impetus for market growth. “The growth in the BEMS market in EMEA is contributed mainly from developed European countries such as France, the UK, Russia, Germany, the Netherlands, Switzerland, and also Gulf countries such as the UAE and Dubai,” says Anju.
New construction projects in the commercial and industrial sectors leading to APAC’s growth
The market in APAC is growing significantly because of new construction projects in the commercial and industrial sectors. China, Japan, and India are the main contributors to market growth in this region. These countries are increasingly building and expanding their commercial and industrial landscapes to serve the needs of their growing populations. Higher energy consumption and rising energy prices also contribute to the demand for BEMS in these countries, and present strong opportunities for venture capitalists and investors to enter the market.
APAC contributed a share of 28.5% to the global next-generation BEMS market in 2015. The market share of APAC is largely contributed by countries such as China, Japan, Taiwan, Singapore, and Australia. The governments in these countries are also taking steps to improve energy efficiency in buildings. For instance, in order to curb the growing energy demand from buildings, the Chinese government has framed policies to encourage building energy efficiency, making it mandatory for new commercial buildings to comply with the energy building codes.
The top vendors in the global next-generation BEMS market highlighted in the report are:
- Honeywell
- Johnson Controls
- Schneider Electric
- Siemens
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