The building energy management systems (BEMS) market will hit $12.3 billion globally by 2030, estimates an analysis report by Global Industry Analysts, Inc., a publisher of off-the-shelf market research.
Produced earlier this year, ResearchAndMarkets.com just announced that it was carrying the research.
“In the changed post COVID-19 business landscape, the global market for Building Energy Management Systems (BEMS) estimated at $4.3 Billion in the year 2022, is projected to reach a revised size of $12.3 billion by 2030, growing at a CAGR of 14.2% over the analysis period 2022-2030,” says the publisher. “Services, one of the segments analyzed in the report, is projected to record a 15.3% CAGR and reach $6.8 billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Software segment is readjusted to a revised 13.2% CAGR for the next 8-year period.”
Management of building energy use has become an important CRE topic. Reducing expenses in areas like energy can contribute significantly to the bottom line. As part of ESG, a better carbon footprint becomes a marketing tool for property owners and operators to attract potential tenants that want modern accommodations. There are also the investment considerations, as increasingly investors want to know that owners and operators are paying more attention to ESG, particularly climate concerns as that means the future value of properties and interactions with regulators.
To manage energy use in buildings as part of ESG requires data and tools to acquire and analyze it and then take appropriate action. Someone has to know what areas of a building to heat, where to provide hot water, how to balance natural light and artificial, when to warm or cool a building and by how much.
Currently, the firm estimates the U.S. market at $1.4 billion, while they expect BEMS in China, the world’s second largest economy, to grow at a 18.3% CAGR through 2030.
“Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.1% and 10.9% respectively over the 2022-2030 period,” they wrote. “Within Europe, Germany is forecast to grow at approximately 13.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2 Billion by the year 2030.”
The firm said that key companies in the global BEMS market include ABB Ltd., Accruent Inc., Azbil Corporation, BuildingIQ Pty Ltd., C3.ai, Inc., Carma Industries Inc., Daikin Applied, Enel X, eSight Energy Ltd. and General Electric Company.