Building-to-Grid Technology Market Report 2024

This Building-to-Grid Technology market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The building-to-grid technology market size has grown rapidly in recent years. It will grow from $51.85 billion in 2023 to $57.34 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth observed during the historical period can be attributed to several key factors, including increasing energy demand, a rise in renewable energy adoption, growing reliability issues within the grid, trends toward urbanization, and the pursuit of energy independence goals.

The building-to-grid technology market size is expected to see rapid growth in the next few years. It will grow to $86.16 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The projected growth during the forecast period can be attributed to several factors, including advancements in energy storage technologies, the rising development of smart grids, increasing initiatives addressing climate change, growing energy efficiency in buildings, and the rising adoption of electric vehicles. Key trends anticipated during this period include the increased development of building-integrated photovoltaics, greater integration of renewable energy sources in buildings, the evolution of smart building technologies, expanding vehicle-to-grid (V2G) applications, and a heightened emphasis on energy resilience and reliability.

The rising demand for electricity is expected to significantly drive the growth of the building-to-grid technology market in the coming years. This increase in electricity demand is attributed to factors such as urbanization, technological advancements, and the growing reliance on electric devices and renewable energy systems. Building-to-grid technology enhances electricity utilization by enabling buildings to feed excess energy back to the grid and adjust to fluctuations in grid demand. For instance, the Department for Energy Security and Net Zero, a UK governmental department, reported in June 2024 that electricity demand rose by 1.2% in the first quarter of 2024 compared to the same period in 2023, reaching 86 terawatt-hours (TWh). As a result, the growing electricity demand is a key driver for the advancement of the building-to-grid technology market.

Leading companies in the building-to-grid technology sector are concentrating on the development of advanced analytics solutions to improve energy efficiency and facilitate better grid interaction. Advanced analytics solutions involve the application of sophisticated data analysis tools aimed at optimizing energy management and enhancing the relationship between buildings and the grid. A notable example is CPower, a US-based electric utility company, which launched the Building Management System as a Service (BMS-aaS) in New York City in April 2022. This innovative solution provides commercial property owners and managers with an intelligent building management system at no upfront cost, enabling them to optimize energy usage, reduce carbon emissions, and offer demand flexibility to the grid. The BMS-aaS promotes dynamic interactions between buildings and the grid, thereby enhancing demand response capabilities and energy management.

In August 2024, Infogrid, a UK-based AI technology firm, acquired Buildings IOT for an undisclosed sum. This acquisition is poised to enhance Infogrid’s capacity to implement autonomous building efficiency measures, leading to substantial energy, carbon, and cost savings. It also marks a significant transition for the company from analytics to comprehensive building automation. Buildings IOT, based in the US, specializes in providing grid technology for adaptive buildings.

Major companies operating in the building-to-grid technology market are Hitachi Ltd., Siemens AG, General Electric Company, International Business Machines Corporation (IBM), Cisco Systems Inc., EnBW Energie Baden-Württemberg AG, RWE AG, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Eaton Corporation plc, Parker Hannifin Corp, Emerson Electric Co., Sunrun Inc., WAGO Kontakttechnik GmbH & Co. KG, Schweitzer Engineering Laboratories Inc., Itron Inc., Landis+Gyr AG, Bloom Energy, Ingeteam S.A., S&C Electric Company, Sunnova Energy International Inc., Stem Inc., Doosan GridTech Inc., Smarter Grid Solutions Inc., AlphaStruxure, Sunverge Energy Inc.

Europe was the largest region in the building-to-grid technology market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the building-to-grid technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the building-to-grid technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Building-to-grid (B2G) technology encompasses systems that facilitate communication and interaction between buildings and the power grid, allowing for the exchange of energy and information. This technology integrates energy generation, storage, and consumption within buildings to align with the grid's demand and supply. Buildings equipped with renewable energy sources, such as solar panels or energy storage systems, can feed excess energy back to the grid during peak demand periods.

The primary types of technologies involved in building-to-grid technology include smart sensing, smart metering, control technology, energy storage, and other related components. Smart sensing utilizes advanced sensors and technologies to monitor and collect real-time data on various parameters, which enables more informed decision-making and efficient system management. These technologies comprise both hardware and software components and are applied across commercial, residential, and industrial sectors.

The building-to-grid technology market research report is one of a series of new reports that provides building-to-grid technology market statistics, including building-to-grid technology industry global market size, regional shares, competitors with a building-to-grid technology market share, detailed building-to-grid technology market segments, market trends and opportunities, and any further data you may need to thrive in the building-to-grid technology industry. This building-to-grid technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The building-to-grid technology market consists of revenues earned by entities by providing services such as grid services and aggregation, energy management services, and support services. The market value includes the value of related goods sold by the service provider or included within the service offering. The building-to-grid technology market also includes sales of advanced meters, energy storage systems, and smart grid controllers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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