Home > Energy & Power > Emerging Energy Technologies > Energy Management System > Asia Pacific Building Energy Management Systems Market
Asia Pacific Building Energy Management Systems Market Size
Asia Pacific Building Energy Management Systems Market was valued at USD 3.7 billion in 2023 and is anticipated to grow at a CAGR of 7.9% between 2024 and 2032, owing to the rapid urbanization, increasing awareness about energy conservation, and government initiatives promoting sustainable practices.
Countries like China, India, Japan, and South Korea are leading the market expansion, propelled by stringent regulations mandating energy efficiency in buildings. Multiple companies are taking efforts to innovate new products as a part of business strategy to expand their business across the region. Additionally, technological advancements, such as the integration of IoT and AI, are enhancing BEMS capabilities, further fuelling market growth. A growing focus on reducing carbon footprints and rising energy independence are continuously creating the opportunities for both established players and new entrants in the Asia Pacific.
Report Attributes | Details |
---|---|
Base Year: | 2023 |
Market Size in 2023: | USD 3.7 Billion |
Forecast Period: | 2024 to 2032 |
Forecast Period 2024 to 2032 CAGR: | 7.9% |
2032 Value Projection: | USD 7.5 Billion |
Historical Data for: | 2021 - 2023 |
No. of Pages: | 350 |
Tables, Charts & Figures: | 15 |
Segments covered: | Service, Component, and Application |
Growth Drivers: |
|
Pitfalls & Challenges: |
|
Asia Pacific Building Energy Management Systems Market Trends
The integration of Internet of Things (IoT) and Artificial Intelligence (AI) technologies is revolutionizing BEMS capabilities by helping in real-time data collection on energy consumption, occupancy patterns, and environmental conditions, enabling BEMS to optimize building performance dynamically. Similarly, Cloud-based BEMS platforms are gaining popularity due to their scalability, flexibility, and accessibility. These solutions allow building managers to remotely monitor and control energy systems from any location with internet access.
Cloud-based BEMS offer real-time data analytics, remote diagnostics, and predictive maintenance capabilities, empowering users to make informed decisions and optimize energy usage effectively. In addition to energy efficiency, BEMS can provide occupants with real-time feedback on energy usage, encouraging energy-saving behaviors and fostering a culture of sustainability.
Asia Pacific Building Energy Management Systems Market Analysis
![Asia Pacific Building Energy Management Systems Market Revenue Size, By Component, 2022 - 2032 (USD Billion) Asia Pacific Building Energy Management Systems Market Revenue Size, By Component, 2022 - 2032 (USD Billion)](https://cdn.gminsights.com/image/rd/energy-mining-oil-and-gas/asia-pacific-building-energy-management-systems-market-revenue-size-by-component-2024-2032.webp)
The software segment is poised to cross USD 1.6 billion by 2032 due to growing demand for sophisticated energy management systems software in the Asia Pacific region. This software enables building owners and managers to monitor, analyze, and optimize energy consumption across various building systems, such as HVAC, lighting, and equipment. By providing actionable insights and real-time data visualization, energy management software empowers users to identify inefficiencies, implement energy-saving strategies, and achieve cost reductions.
![Asia Pacific Building Energy Management Systems Revenue Share , By Application, 2023 Asia Pacific Building Energy Management Systems Revenue Share , By Application, 2023](https://cdn.gminsights.com/image/rd/energy-mining-oil-and-gas/asia-pacific-building-energy-management-systems-revenue-share-by-application-2024-2032.webp)
Based on application, the power & energy segment is anticipated to grow at 8.4% CAGR through 2032 since the Governments and utilities in the Asia Pacific region are investing in smart grid technologies to modernize aging infrastructure, improve grid resilience, and support the integration of renewable energy sources. BEMS play a crucial role in smart grid initiatives by providing real-time monitoring, control, and automation capabilities.
![China Building Energy Management Systems Market Revenue Size, 2022 - 2032, (USD Billion) China Building Energy Management Systems Market Revenue Size, 2022 - 2032, (USD Billion)](https://cdn.gminsights.com/image/rd/energy-mining-oil-and-gas/china-building-energy-management-systems-market-revenue-size-2024-2032.webp)
China building energy management systems market is projected to surpass USD 2.7 billion by 2032 owing to its rapid urbanization, economic growth, and infrastructure development. The Chinese government has prioritized energy efficiency and environmental sustainability as key components of its national development strategy. Initiatives such as the 13th Five-Year Plan and the Belt and Road Initiative emphasize the importance of green building technologies, including BEMS, in reducing energy consumption and carbon emissions. Similarly, other countries including India, Japan, Australia, and South Korea are also contributing significantly to this market by initiating multiple projects in this market.
India's construction industry is experiencing rapid growth, driven by urbanization, infrastructure development, and government initiatives such as "Smart Cities Mission" and "Housing for All." Australia has a strong focus on sustainability and environmental conservation. The Green Building Council of Australia (GBCA) promotes green building practices through initiatives like the Green Star rating system. Whereas, Japan and South Korea are renowned for technological innovation, particularly in the fields of robotics, automation, and smart buildings. They are developing advanced BEMS solutions that leverage AI, IoT, and data analytics to optimize building performance and energy usage.
Asia Pacific Building Energy Management Systems Market Share
![Asia Pacific Building Energy Management Systems Company Market Share, Analysis, 2023 Asia Pacific Building Energy Management Systems Company Market Share, Analysis, 2023](https://cdn.gminsights.com/image/rd/energy-mining-oil-and-gas/asia-pacific-building-energy-management-systems-company-market-share-analysis-2024-2032.webp)
Companies like Emerson Electric, Schneider Electric, and Honeywell hold significant market share in building energy management systems (BEMS) in the Asia Pacific due to their extensive product portfolios, established brand reputation, and strong regional presence. These industry giants offer comprehensive BEMS solutions tailored to diverse market needs, ranging from hardware components to software platforms and integrated systems.
Asia Pacific Building Energy Management Systems Market Companies
Eminent players operating in the Asia Pacific building energy management systems industry include:
- ABB Limited
- C3.ai, Inc
- Emerson Electric Co.
- Eaton Corporation
- ENGIE Impact
- eSight Energy
- General Electric
- Honeywell International Inc.
- Ingersoll Rand
- Johnson Controls Inc
- Mitsubishi Heavy Industries
- NX Technologies
- Optimum Energy LLC.
- Rockwell Automation, Inc.
- Siemens
- Schneider Electric
- Toshiba Corporation
Asia Pacific Building Energy Management Systems Industry News
- In November 2022, ABB launched OPTIMAX into the hydrogen market with the goal of cutting operational costs by boosting visibility into power usage across different sectors. OPTIMAX offers enhanced assistance throughout the entire lifespan of a hydrogen plant.
- In May 2022, Siemens unveiled commercial grid software aimed at bolstering economic efficiency and grid stability. The company claims that its software accelerates grid simulations by up to sixfold and improves efficiency by 85% in grid management operations.
This Asia Pacific building energy management systems market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2021 to 2032, for the following segments:
Click here to Buy Section of this Report
Market, By Component
- Metering & Field Equipment
- Hardware
- Software
- Networking Device
- Control Systems
- Sensors
- Others
Market, By Application
- Power & Energy
- IT
- Manufacturing
- Enterprise
- Healthcare
- Others
The above information has been provided for the following countries across the regions:
- China
- India
- Japan
- South Korea
- Australia
Frequently Asked Questions (FAQ) :