Connectivity and New Technology Convergence Unleash the Potential of AI/IoT and Launch Innovative Applications
Building energy management is now a cornerstone of building energy sustainability. Mass digitization targets building systems management and focuses on occupant health and well-being, enabling proactive performance improvements and making buildings more human-centric.
The COVID-19 pandemic emphasizes the importance of minimizing ecological footprint, optimizing energy and operational efficiency, adhering to building regulations, and adopting certifications. Collectively, these allow intelligent buildings to be environmentally friendly and sustainable.
Technology trends such as greater penetration of the Internet of Things (IoT), cloud, and edge computing; rising adoption of AI-driven solutions at the management level; and cloud-based remote services fuel these changes and will be sought-after post-pandemic. Digital services will play a vital role in connectivity, new technology convergence, and seamless integration with systems to generate greater granular value and mitigate the pandemic’s impact.
Comprehensive and customizable business models dedicated to building sustainability such as connectivity-as-a-service with cloud-based platforms as well as energy-, healthy buildings-, pandemic management-, and digital tools-as-a-service are growing. These services will generate energy and cost benefits. Unlike the pre-COVID-19 scenario, building owners and managers are prioritizing value-based outcomes along with human health, wellness, and safety services.
The competitive building energy management system (BEMS) and home energy management system (HEMS) market offers sophisticated solutions that allow buildings to become smarter, more interconnected, responsive, and adaptable. Incumbent and emerging companies are developing go-to-market strategies while consolidating offerings through partnerships, mergers, and acquisitions. This enables them to co-create innovative technology-enabled solutions and deliver optimized building performance.
Static and dynamic digital twin models in the cognitive built environment will improve buildings’ operational efficiency and the operations and maintenance of connected, healthy workplaces. Next-generation BEMS will enable a better occupant experience while ensuring grid resilience and balancing the supply of renewable energy generation. In the future, BEMS will evolve beyond simple applications and coordinate with cloud-based software to drive energy sustainability across community ecosystems.
Future buildings will be sustainable on numerous fronts. They will enhance user experience, ensure occupant comfort and safety, curtail energy use, offer energy and environmental footprint management, and reduce operational costs. These buildings will comprise multiple enabling technologies and are smart, green, net-zero, people-friendly, healthy and certified, grid-efficient, and cognitive.
In this study, the publisher provides insights into the latest market developments.
Topics covered include:
- Revenue forecast for BEMS and HEMS for major regions
- Key participants and market share analysis
- Drivers and restraints impacting market growth
- Competitive analysis
- Trends toward energy sustainability
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Schneider Electric
- Siemens
- 75F
