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channel among these technologies consists of wired and wireless transmission. BEMS based on service includes training & consultancy and support & maintenance.
Building energy management system segmented on the basis of application includes manufacturing, office & commercial buildings, retail, government & MUSH( Municipal, University, School, and Hospital), telecom and IT systems. Growing consumer awareness for reducing energy costs along with favorable government policies is likely to influence market growth positively.
Incentives, rebates, and tax credits from governments is likely to encourage infrastructure & real estate companies to implemented building energy management systems. The growing expenses on energy consumption from pumps, catering, HVAC systems, and office equipment in buildings & complexes is anticipated to propel the demand for BEMS. In the commercial sector, maximum solar power installations were in hotels, offices, and healthcare establishments. Water heaters, pool heaters, batteries & chargers, and attic fans are few residential applications which require large electricity consumption.
Asia Pacific is expected to drive the BEMS market over the forecast period. Increasing industrialization, high power consumption, and green building technologies are projected to boost the market demand in this region. India and China are expected to contribute to Asia Pacific’ s market growth on account of rising manufacturing plant setup and growing population.
The U. S. is anticipated to dominate the BEMS market on account of technological developments in energy efficient systems coupled with the implementation of demand response programs. BEMS also helps customers handle variation in prices and save on peak demand charges. Latin America is expected to grow rapidly owing to rising awareness on energy conservation over the forecast period.
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