The building energy management system market comprises major companies providing hardware solutions, software solutions, and services. This varied range of market participants provides opportunities to other players willing to bear the high risks involved in the industry. This segment details the latest strategies and developments adopted by the key market players in the building energy management system market. In order to lead the market as well as engage in the process of market growth, a company needs to work in collaboration with the top market leaders, acquire the relatively weaker companies, bring new products and services to the market, and improve the existing products.
The emerging strategies and developments resulted in the increased number of mergers and acquisition in the building energy management system market. Moreover, the growing market of building energy management system is further expected to increase the involvement of companies across different segments of the value chain. The key players actively taking part in the building energy management system market are ENGIE, Johnson Controls, Ingersoll Rand, Schneider Electric, and Siemens AG, among others.
Majority of the companies preferred entering into mergers and acquisitions in 2018 to enhance their presence while the relatively less adoptive strategies comprised partnerships, collaborations, and joint ventures. Mergers and acquisitions across the value chain of the building technology industry have been presenting a major strategic move made by a large number of companies since 2016. For instance, in March 2018, Ingersoll Rand acquired Agilis Energy to create energy efficient manufacturing powerhouse for its industrial consumers. In May 2018, Siemens AG acquired Enlighted Inc. to add smart sensors technology for improving building operations. Further, in October 2018, Siemens acquired Electrocon to enhance power grid simulations and to ensure safe, reliable, and efficient operation of electrical grids.
The building energy management system market ecosystem also consists of several research institutes, such as the Wageningen University, CSIRO, and Fraunhofer Institute. Additionally, the market also encompasses a significant number of venture capital investors, start-ups, and advanced solution providers. IT and big data platform providers are also significant stakeholders in this market. Various government research institutes, such as IEA and BSRIA, are making substantial efforts to identify the benefits of building energy management-based solutions using favorable trade policies.
The exponential increase in the global population has led to the rise in energy consumption and shrinking natural resources, thereby depleting the ozone layer. Hence, the need to enhance energy consumption has become critical due to continuous increase in energy demand mainly from industrial, residential, and commercial consumers. Major end-user industries of building energy management technologies include residential, commercial, and industrial. The residential sector represents the most significant end-user industry in the market for building energy management systems.
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The building energy management industry has been spending millions of dollars for the innovation of smart appliances and technologies for efficient energy consumption and also to track the real-time data of an entire residential site where the system has been installed. The use of building energy management systems has helped the residential consumers to analyze a set of data collected from sensors planted at the site. Building energy management systems have been adapted to not only improve the operational performance but also ensure a secure living environment for the end users.
Commercial building energy management system provides an opportunity to the building owners to manage and understand the energy consumption. The key players in the commercial energy management system market is coming up with the launch of new products and various developmental activities in order to generate public awareness about their existing and new products and compete with the competitors’ product portfolio. The reason behind this growth is the organizational restructuring and cost cutting. Many key players, such as Schneider Electric and Siemens AG, are mainly focusing on the launch of new initiatives to improve technology and emphasizing their strategies to make a greater use of building energy management systems for efficient energy consumption.
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