Implementation of stringent government policies that mandate use of energy-efficient technologies to drive demand for building energy management solutions worldwide
According to TechSci Research report “Global Building Energy Management Solutions Market By Type, By End User, Competition Forecast and Opportunities, 2011 – 2021”, the global market for building energy management solutions is projected to grow at a CAGR of over 12% during 2016 – 2021, on account of increasing focus on reducing emissions of greenhouse gas (GHG), implementation of stringent government regulations and growing number of smart city projects in developing as well as developed countries. Building energy management solutions are being widely employed in the commercial sector in enterprises/offices, retail sector, government agencies, IT & telecom, schools & universities and hospitals & healthcare. However, adoption of building energy management solutions is relatively slow in the residential sector, due to high initial costs and lack of consumer awareness.
Demand for building energy management solutions from Asia-Pacific is forecast to grow at the fastest pace over the next five years, due to increasing number of smart city projects in the region; booming construction sector in China, Japan and India; implementation of government plans and policies; widespread adoption of green building; and increasing clean energy investments. In 2015, hardware segment dominated the global building energy management solutions market on the back of increasing demand for energy efficient heating, ventilation and air conditioning (HVAC) systems and advanced CO2 sensors and control technologies.
“Rising concerns over energy security, aggressive environmental targets, growing interests towards clean and renewable resources, and implementation of stringent government policies are projected to drive global building energy management solutions market in the coming years. Various end user segments are focusing on integration of cloud computing with these advanced building energy management solutions, and this trend is expected to gain more traction over the course of next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Building Energy Management Solutions Market By Type, By End User, Competition Forecast and Opportunities, 2011 – 2021” has evaluated building energy management solutions market across the globe and provides statistics and information on market structure, industry behaviour and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities in the global building energy management solutions market.