Building Energy Management Services Market: Rising Trends and Growing Demand 2025
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Building Energy Management Systems (BEMS) are hardware-software systems installed in buildings that monitor and control the energy needs of a building to ensure efficient and economical energy utilization. These systems monitor a buildings energy consumption by electrical and mechanical equipment such as heaters, ventilators, air conditioners, and lighting to increase energy efficiency, and reduce energy costs. At present, building systems are integrated for better synchronization and monitoring of data on energy usage and better optimization. The next generation of BEMS are collaborating directly with utility enterprises so that the building owners are aware of when power rates and demand are lowest, allowing proper scheduling of high power use activities to help lower their costs. Energy efficiency, energy price volatility, and government policies and incentive programs majorly drive the growth of this market. Factors such as high investment, and longer payback period are some of the challenges confronted with regards to installation and implementation of BEMS in various type of buildings.
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This market research analysis identifies the increasing need to optimize energy consumption as one of the primary factors that will have a positive impact on the growth of theenergy managementservices market in the next few years. Owing to various infrastructure development activities, the Middle East is witnessing a rapid increase in energy consumption. It has been observed that energy consumption in the Middle East was about 770 million tons of oil equivalent (MTOE) during 2015 and is expected to witness a growth rate of over 4% year-over-year during the forecast period. This will induce governments and enterprises in this region to optimize their energy usage. Moreover, the depleting oil resources will compel businesses to invest in alternate energy sources such as solar, wind, and bioenergy, which, in turn, will propel the need forenergy management services.
In 2018, the global Building Energy Management Services market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
This report focuses on the global Building Energy Management Services status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Building Energy Management Services development in United States, Europe and China.
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The key players covered in this study
Emrill Services LLC
Etisalat Facilities Management LLC
Farnek Middle East LLC
Market segment by Type, the product can be split into
Maintenance and Support
Market segment by Application, split into
Market segment by Regions/Countries, this report covers
Central & South America
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