Europe Building Energy Management System Market Size Share Trends Growth Demand and Competitive Analysis Insights 2022-2029 | DataM Intelligence
Market Overview:
Building energy management systems (BEMS) are control and monitoring systems used to monitor and control the energy needs of a building. The systems can provide a more pleasant indoor environment and cost-effective building operation regarding energy and personnel. The BEM systems can be used in both residential and commercial buildings.
The building energy management systems comprise building control and management functions such as heating, ventilation, air conditioning (HVAC), lighting, fire alarm system, security, maintenance and energy management. These systems involve computers and distributed microprocessors for monitoring, data storage and communication. BEMS systems can be installed via wired or wireless with maintenance contracts or manufacturer installations. Remote outstations for building energy management systems could be accessible via mobile or smart devices. Building energy management systems enable building owners and operators to be aware of data-driven optimizations to reduce energy usage, resulting in energy savings.
Market Size Growth Rate:
As per the research report published by DataM Intelligence, the building energy management system (BEMS) market in Europe was valued at USD YY billion in 2021; it is projected to reach USD YY billion by 2029, with growth at a CAGR of YY% over the forecast period 2022-2029. Governments are instituting new legislation to encourage efficient energy usage for private homes and businesses. Rising energy costs across Europe are major driving factors for the market’s growth in the forecast period.
Market Drivers:
With growing concerns about rising energy prices in Europe, there has been a drive to implement energy efficiency solutions and the demand for BEMS is expected to grow significantly. Efficient energy usage is likely to have a major impact on the national economies of European countries. It will lower energy costs for consumers and will curtail energy wastage. Building energy management systems manage the energy requirements of residential and commercial buildings, resulting in efficient and cost-effective energy use.
Market Restraints:
Over the forecast period, the high costs of building energy management systems will hinder the growth of the European Building Energy Management Systems (BEMS) industry. BEMS consists of unique hardware and software components tailored to each application. Furthermore, users of BEMS have to sign multi-year maintenance contracts from the system provider, which further drives up costs. Private consumers and businesses are reluctant to make substantial capital investments in BEMS for returns that will take years to materialize fully. The above factors are primary restraints, slowing the industry’s growth rate.
Market Opportunities
The leading players in the building energy management system (BEMS) market are undertaking projects to retrofit existing buildings. Europe has a large number of historical and classical buildings, which are under use by governmental and private entities. Retrofitting these buildings presents new opportunities for Europe’s building energy management system market.
Download free sample @ https://www.datamintelligence.com/download-sample/europe-building-energy-management-system-market
COVID-19 Impact Analysis
The COVID-19 pandemic impacted Europe’s building energy management system (BEMS) market. During the COVID-19 pandemic, various construction activities were interrupted and the installation of BEMS in commercial and residential buildings was impacted due to restrictions imposed across the region. The lockdowns also hampered the manufacturing activities, which disrupted the supply of hardware components for BEMS. However, with the receding of the pandemic, energy usage is likely to increase significantly above pre-pandemic levels. The adoption of energy-saving technologies will rise in conjunction with growing energy usage. Hence, the demand for BEMS will likely increase in the coming years, thereby contributing to the market’s growth.
Market Challenges:
The hardware and software offerings for building energy management systems (BEMS) are increasingly sophisticated and advanced. Integrating with and incorporating emerging technologies such as machine learning and artificial intelligence presents challenges for the European market.
Recent Developments in the Industry:
- In June 2022, the European Commission (EC), the main legislative body of the European Union, along with the European Investment Bank, unveiled new financial models for energy efficiency in various European countries. The models are designed to encourage the adoption of building energy management systems.
- In May 2022, Samara, a Spain-based energy engineering start-up, closed US$ 2.1 million in venture capital funding. Samara is developing technology for converting households completely to solar energy usage using building energy management systems.
- In June 2022, Nordomatic AB, a Norway-based BEMS solutions provider, announced the acquisition of Demma, a UK-based building automation systems developer. The acquisition is expected to strengthen Nordomatic AB’s expansion in the European market.
Market Segmentation:
As per the research analysis, the market for building energy management systems (BEMS) in Europe is segmented by product type into software, hardware and services, by communication technology into wired systems and wireless systems and by building type into commercial, residential and industrial and by country into U.S., Canada and Mexico. Product type is segmented into software, hardware and services.
- Commercial buildings typically install BEMS to rationalize energy usage. According to industrial analysis, commercial buildings, such as schools, hospitals, retail stores and office buildings, have been discovered to waste 30% of the energy they require on average. In addition, an average office building spends more than US$ 30,000 on electricity each year. The installation of BEMS in commercial buildings allows precise monitoring of energy usage leading to reduced wastage and increased efficiency, thereby translating to lower energy bills.
- Residential adoption of BEMS has been increasing in recent years due to the growing impetus on energy efficiency. A home energy management system comprises hardware and software components that efficiently regulate energy usage. When the technology is used in residential buildings, it provides homeowners with information about their energy usage. Residents can use this data to implement conservation activities. In addition, the technology can provide residents with certain comfort settings. As a result, the information and actions technology may deliver to residents can contribute to social development by boosting comfort and lowering energy use. Moreover, individual households play an important role in transforming global energy consumption to help build a more sustainable world.
- Industrial premises adopt building energy management systems to ensure stable and efficient supply for various subsystems. It is not easy to optimize industrial operations to increase energy efficiency. Strategic energy management allows you to acquire control over your energy use and lower it without sacrificing productivity or product quality. An enterprise can get real-time energy awareness to identify targeted areas to optimize and increase the efficiency and profitability of operations with a building energy management system.
Geographical Classification:
According to the report, the European building energy management system (BEMS) market is divided into the major countries, i.e., U.S., Canada & Mexico.
Germany: Germany is the largest economy in Europe and has a major, well-developed manufacturing industry. The adoption of BEMS among industrial users has been increasing in recent years since efficient energy usage is a key factor in maintaining the competitiveness of the German industry. Residential and commercial adoption is also increasing thanks to various new energy efficiency regulations and government subsidies for new technologies.
UK: UK is another major European economy that rising energy prices have battered. The country has been a net importer of electricity since 2010 and supply constraints have created rising volatility in energy prices. It has made BEMS an attractive choice for homeowners and businesses to optimize energy usage and ensure savings on energy bills.
France: The adoption of BEMS has been relatively slow in France. It is mainly due to stable nuclear energy supply and strict regulation of energy prices, drastically reducing volatility. However, with growing awareness about increasing energy efficiency, adopting of BEMS is likely to increase in the coming years.
Spain: Spain has taken a lead role in exploiting solar energy since it receives the highest amount of sunshine in Europe. The push toward adopting solar energy-based renewable energy has increased the integration of BEMS across commercial and industrial entities.
Italy: Italy is a major energy importer and primarily relies on fossil fuels for energy. However, it has a growing renewable energy capacity fuelled by wind, solar and hydroelectricity. The rising share of renewables in Italy’s energy mix will likely increase the adoption of BEMS in the country.
Rest of Europe: The adoption and development of BEMS across the rest of Europe has been lagging, mainly due to technological backwardness and poor awareness among consumers and industries. However, with the introduction of new innovative solutions and falling prices, the growth in adoption of BEMS is likely to happen in the coming years.
Competitive Analysis:
The major players adopt several growth strategies such as product launches, innovating new technological solutions, acquisitions and collaborations, contributing to building energy management systems (BEMS) in the European market.
Major Companies:
Some key companies contributing to the market’s growth include ABB, Nordomatic AB, Cisco Systems Inc, C3.ai, Inc, Engie, Honeywell International Inc, General Electric, BuildingIQ, Johnson Controls, Siemens AG and Schneider Electric, among others.
Additional Benefits Post Purchase:
1) Unlimited Analyst support for a period of 1 year.
2) Any query regarding the scope offered will be addressed within 24- 48 hours.
3) An excel sheet with market numbers will be provided separately.
The Full Report has the below insights.
- The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021) and verifiable projections about market size during the forecast period (2022-2029).
- Visualize the composition of the European building energy management system (BEMS) market segmentation by product type, communication technology, building type and country, highlighting the key commercial assets and players.
- By Product Type: Software, Hardware and Services
- By Communication Technology: Wired Systems, Wireless Systems
- By Building Type: Commercial, Residential, Industrial
- By Country: Germany, UK, France, Italy, Spain and Rest of Europe
- Identify commercial opportunities in the European BEMS (building energy management system) Market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as porter’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis and pricing analysis.
- Excel data sheet with thousands of BEMS (building energy management system) Market-level 4/5 segmentation data points.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
- The report will provide access to approximately 50+ market data tables, 40+ figures and close to 180 pages.
Trending Topics
About Us:
DataM Intelligence 4Market Research is a market intelligence platform that gives access to syndicated, customized reports and consulting to its clients in one place. As a firm with rich experience in research and consulting across multiple domains, we are a one-stop solution that will cater to clients’ needs in key business areas. DataM Intelligence has an online platform whose coverage includes industries such as chemicals and materials, agriculture, health care services, animal feed and food & beverages, among others. Our platform has Insights into markets that uncover the latest market research data distinct from the competition. With coverage across ten major industries in the marketplace research, DataM Intelligence benefits thousands of companies by helping them take their innovations early to the market by providing a complete view of the market with statistical forecasts. Our strategy-centric framework and value-added services will let individuals and corporates ease of access and custom personalization to research and markets.
Media Contact
Company Name: DataM Intelligence
Contact Person: Sai
Email: Send Email
Phone: +1 877 441 4866
Country: United States
Website: https://www.datamintelligence.com/research-report/europe-building-energy-management-system-market
