This statistic shows the global market size of building energy management systems (BEMS) from 2016 to 2018, with a projection for 2025. In 2025, it is projected that the market size of building energy management systems will reach 12.72 billion U.S. dollars.

Building Energy Management Systems Market is expected to grow at a high CAGR 17.2% during the forecast period 2023-2030 | DataM Intelligence

This statistic shows the global market size of building energy management systems (BEMS) in 2018 and a projection for 2025, broken down by end-user market. In 2025, it is projected that the market size of the building energy management systems for the residential sector will be worth 4.79 billion U.S. dollars.

The Asia-Pacific Building Energy Management Systems Market is Segmented by Type of Solution (Hardware, Software, Services), Distribution Channel (Direct/Partner Sales/Retail, Direct/Partner Sales/Retail, Utilities/Energy Service Providers), End-user Application (Commercial, Educational, Industrial), and Country. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

The Global Building Energy Management System (BEMS) Market is projected to grow at a CAGR of around 14.7% during the forecast period 2021-26, says MarkNtel Advisors.

Building Energy Management System Size, BEMS Market Analysis & Building Energy Management System Forecast 2025 Focus on Components, By Region, Market Report, Market Share, Market Growth, Market Survey.

Access the summary of the Building Energy Management System market report, featuring key insights, executive summary, market size, CAGR, growth rate, and future outlook.

This statistic shows the global market size of building energy management systems (BEMS) in 2016 and a projection for 2023, broken down by component or service segment. In 2023, it is projected that the market size of the building energy management systems' services segment of will reach 3.21 billion U.S. dollars.

According to Cognitive Market Research, the global Home Energy Management System (HEMS) market size will be USD 4125.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 14.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 1650.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1237.56 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 948.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 206.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 82.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.9% from 2024 to 2031.
The thermostat category is the fastest growing segment of the Home Energy Management System (HEMS) industry

Market Dynamics of Home Energy Management System (HEMS) Market

Key Drivers for Home Energy Management System (HEMS) Market

Rising Need for Optimizing Energy Consumption to Boost Market Growth

With its effective and sustainable energy storage and usage options, thermal energy storage (TES) is an essential part of home energy management systems (HEMS). When demand is low, TES technologies are made to store extra thermal energy, which is then released when demand is high. This strategy guarantees a dependable and economical means of energy consumption optimization. Conventional energy sources frequently require assistance to fulfill peak demand, which puts strain on the grid and raises electricity costs. For this problem, TES technologies offer a reliable and expandable solution. With TES, energy consumption is efficiently managed, and expensive peak power generation is not required by storing thermal energy during low-demand times, including at night or during off-peak hours, and releasing it when demand is high.

Growing Number of Smart Homes to Drive Market Growth

The market for home energy management systems (HEMS) is expanding quickly because of the rising need for intelligent and energy-efficient technology that lets users remotely control their home appliances and other systems. Thus, as more people outfit their smart homes with various smart gadgets, the growing demand for smart homes is anticipated to present growth possibilities for vendors in the home energy management system market. The markets are most widely accepted in North America, Asia-Pacific, and Europe. Users are also gravitating toward the Smart City movement, which is more prevalent in industrialized countries like Western Europe, the US, Canada, and Japan. Voice control, artificial intelligence, and intelligent assistants are examples of technological advancements that have made smart and connected houses feasible control centers. They are a ground-breaking advancement in home design that improves sustainability, comfort, convenience, security, and entertainment.

Restraint Factor for the Home Energy Management System (HEMS) Market

High Cost of HEMS Will Limit the Market Growth

Even while retail automation and IoT dominance are on the rise, the high investment cost prevents home energy management systems (HEMS) from being widely adopted, particularly in the price-sensitive emerging regions of APAC and Latin America. These gadgets can be challenging to install, and expert help is typically required. The current smart house infrastructure may also be included in some home energy management systems, which could incur extra fees. Furthermore, low-income households may find the high upfront expenses of home energy management systems particularly difficult to afford. Financial limitations may be challenging for these consumers, who stand to gain from the system's potential energy savings.

Impact of Covid-19 on the Home Energy Management System (HEMS) Market

Due to the pandemic's economic uncertainties, numerous homeowners put off investing in home energy management systems and other non-essential expenses. Lockdowns, travel restrict...

The Report Covers North America Commercial Energy Management Systems Market and is Segmented by Type of EMS (Building Energy Management Systems(BEMS), Home Energy Management System(HEMS)), by BEMS End-Users (Commercial, Industrial, Healthcare, Education, Other End-user) and By Country (United Staes, Canada). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Intelligent Building Energy Management Systems Market is expected to grow at a high CAGR of 11.1% during the forecast period 2024-2031 | DataM Intelligence

The size and share of the market is categorized based on Application (Commercial Buildings, Residential Buildings, Industrial Buildings, Educational Buildings) and Product (Building Automation Systems, Energy Analytics Software, Demand Response Systems) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

This statistic displays the market revenue of building energy management systems in the United States from 2011 to 2014. In 2012, the building energy management systems market generated 826 million U.S. dollars in the country.

Global home energy management system market size/share will surpass USD 12.83 billion by 2032, to grow at a CAGR of 13.70% during the forecast period.

According to Cognitive Market Research, the Global Building Energy Management Systems market size 2023 was XX Million. Building Energy Management Systems Industry compound annual growth rate (CAGR) will be XX% from 2023 till 2031.

The global Building Energy Management Systems market will expand significantly by XX% CAGR between 2023 to 2031.
North America held the major market of more than XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2023 to 2031.
The Software segment is set to rise due to its affordability, versatility, and sustainability, appealing to modern consumers. Technological advancements in network and infrastructure mobility further bolster demand, while current technological needs and investment appeal contribute to its enduring popularity.

Market Dynamics of the Building Energy Management Systems Market

Key Drivers of the Building Energy Management Systems Market

Increasing Automation System Adoption Will Propel the Building Energy Management Systems Market Growth

Building Energy Management Systems market is supported by rising consumer demand for the newest technology, long-term affordability, and sustainability considerations. The market is being driven by an increasing focus on reducing the energy consumption and maintenance costs of buildings. BEMS is essential for optimizing energy savings and cutting energy costs. Intelligent building automation technologies are becoming widely adopted by organizations. These technologies offer a variety of applications, including the ability to control air conditioning, heat ventilation, lighting, and building data analysis. The majority of an organization's efforts are concentrated on energy-saving measures, such as turning on and off lights, HVAC systems, and other applications. This is anticipated to drive market expansion.

For instance, according to estimates from the International Energy Agency (IEA), operational energy use in buildings represents about 30% of global final energy consumption. This share jumps to 34% when including the final energy use associated with the production of cement, steel, and aluminium for the construction of buildings.

Regulatory Compliance associated with Energy Management to Drive the Building Energy Management Systems Market Further

Concerns about traditional fuels like coal's ongoing loss of energy intensity have spread throughout the world. Governments from all throughout the world have committed funds to creating a long-term, reliable, and acceptable energy system. The fast industrialization leading to increased energy demand also pushes governments across the globe to put in place efficient energy management systems. Similarly, governments are under pressure to increase their investments in sustainable energy due to growing competition among energy suppliers and rising energy prices. The market is being driven by increased investments in energy efficiency. Governments can put these solutions into practice thanks to a variety of energy efficiency suppliers, and these companies are witnessing a rise in investment.

For instance, Governments are coming up with creative methods to broaden programs to include qualifying criteria like the adoption of energy management systems, according to publications published by the US Department of Energy. Adoption of energy management system standards is mostly encouraged by voluntary agreements with an energy management plan. Additionally, some countries are creating regulations that require the implementation of energy management strategies or systems.

Key Drivers of the Building Energy Management Systems Market

High Implementation Cost Restraints the Building Energy Management Systems Market from Further Growth

Building Energy Management Systems market involves a high initial investment, coupled with a lack of awareness amongst end-users, restraining the market’s growth. Additionally, the operation of intelligent BEMS can present technical challenges that may hinder market growth. The industry requires skilled professionals for the installation, monitoring, and maintenance of BEMS, which are currently in short supply. Furthermore, there is a degree of uncertainty among users regarding the long-term returns of BEMS, potentially affecting demand. Managing a large array of devices and applications with different functionalities has l...

The report covers Europe Home Energy Management Systems Companies and the market is Segmented By Component (Hardware, Software, Services), By Product Type (Lighting Controls, Self-Monitoring Systems and Services, Programmable Communicating Thermostats, Advanced Central Controllers, Intelligent HVAC Controller), and By Technology (Z-Wave, ZigBee, Wi-Fi, Internet) and By Country.

Market Overview:

Vietnam energy management system market size is projected to exhibit a growth rate (CAGR) of 8.80% during 2024-2032. The Vietnamese government's encouragement towards energy security and environmental regulations, the growing adoption of EMS to curb excessive energy expenditures, the considerable rise in the construction of energy-efficient buildings, and the widespread integration of smart grids represent some of the key factors driving the market.

An energy management system (EMS) refers to an advanced framework designed for the commercial, industrial, and residential sectors to monitor, control, and optimize the performance of energy generation and consumption units. Such systems utilize cutting-edge technology to collect energy metering data and operational information, enabling precise energy use tracking and analysis. EMS solutions range from basic in-home displays to complex real-time sensor networks and integrated software platforms that support strategic energy decisions. These systems are categorized into home energy management systems (HEMS) for residential applications, building energy management systems (BEMS) for commercial establishments, and industrial energy management systems (IEMS) for large-scale industrial operations. The advantages of implementing an EMS are multifaceted: they significantly reduce energy costs, enhance sustainability efforts by reducing carbon footprints, ensure compliance with energy regulations, and contribute to the extended lifespan of operational equipment by preventing overuse. As organizations increasingly focus on cost-saving and sustainable operations, EMS solutions are becoming integral components of modern energy strategies, reflecting their growing importance in the global push toward energy efficiency and environmental responsibility.

Vietnam Energy Management System Market Trends:

The market in Vietnam is majorly driven by the growing industrial activities to increasing energy costs. As Vietnamese industries strive for efficiency and sustainability, there is a pronounced shift towards the adoption of EMS to curb excessive energy expenditures and to align with global energy conservation standards, which is significantly supporting the market. Along with this, the government's push towards energy security and environmental regulations is another critical driver, incentivizing businesses to invest in EMS solutions. In addition, Vietnam's rapid economic growth is leading to escalated energy consumption, making energy optimization a necessity for the industrial sector's ongoing expansion. Moreover, the emerging trend of smart city developments and the integration of smart grids are positively influencing the market. The market is also influenced by the considerable rise in the construction of energy-efficient buildings, due to the introduction of various green building initiatives. Another significant growth-inducing factor is the growing penetration of renewable energy sources in the country’s energy mix, thereby necessitating EMS to optimize the renewable energy usage. Additionally, the advent of the Internet of Things (IoT) and Industry 4.0 is resulting in a higher product uptake among Vietnamese enterprises, further stimulating the market's growth. Apart from this, extensive investments in research and development are leading to the creation of more advanced, user-friendly EMS interfaces, which is providing an impetus to the market. In confluence with this, the increasing awareness of the long-term cost savings and operational efficiencies provided by EMS is contributing to the market.

Vietnam Energy Management System Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on component, product, solution, industry vertical, and end use industry.

Component Insights:

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• Sensors
• Controllers
• Software
• Batteries
• Display Devices
• Others
  

The report has provided a detailed breakup and analysis of the market based on the component. This includes sensors, controllers, software, batteries, display devices, and others.

Product Insights:

• Industrial Energy Management Systems (IEMS)
• Building Energy Management Systems (BEMS)
• Home Energy Management Systems (HEMS)
  

A detailed breakup and analysis of the market based on the product have also been provided in the report. This includes industrial energy management systems (IEMS), building energy management systems (BEMS), and home energy management systems (HEMS).

Solution Insights:

• Carbon Energy Management
• Demand Response Management
• Utility Billing and Customer Information System
  

The report has provided a detailed breakup and analysis of the market based on the solution. This includes carbon energy management, demand response management, and utility billing and customer information system.

Industry Vertical Insights:

• Power and Energy
• Telecom and IT
• Manufacturing
• Retail and Offices
• Healthcare
• Others
  

A detailed breakup and analysis of the market based on the industry vertical have also been provided in the report. This includes power and energy, telecom and IT, manufacturing, retail and offices, healthcare, and others.

End Use Industry Insights:

• Residential
• Commercial
  

The report has provided a detailed breakup and analysis of the market based on the end use industry. This includes residential and commercial.

Regional Insights:

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• Northern Vietnam
• Central Vietnam
• Southern Vietnam
  

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Energy Management System Market Report Coverage:

The global home energy management systems market is anticipated to generate revenues of US$ 2,892.4 million in 2023. Demand is anticipated to increase at a CAGR of 17.7% and reach US$ 104,360.3 million by 2033. The leading factors of this expansion are increasing power consumption and cutting-edge technology like the smart grid.

Shifting Pattern of Power Consumption Transforms the Industry Analysis of Home Energy Management Systems

Country-wise Analysis

The building energy management solutions market is valued at US$ 4.7 billion as of 2022. The market is expected to grow at a CAGR of 12.5% during the period 2022 to 2032 and is expected to reach a valuation of US$ 15.2 billion by 2032.

Report Scope

Explore the Building Management System Market trends! Covers key players, growth rate 24.8% CAGR, market size $55.99 Billion, and forecasts to 2033. Get insights now!