The need to manage energy costs for commercial as well as residential buildings is expected to boost building energy management systems market over the next few years. These sectors have been adopting various technologies for controlling, conserving, and monitoring energy. High energy consuming areas in buildings include HVAC systems, office equipment, pumps, etc.

The introduction of new technologies accompanied by the maturing of existing technologies is predicted to drive applicability across various industry sectors. Urban infrastructure development, particularly the growth of smart buildings, is anticipated to be one of the major factors driving market share.

The U.S. building energy management systems market is the largest regional segment and is likely to maintain its dominance owing to rising interest in highly developed energy technologies as well as implementation of demand response programs over the coming years. These programs are likely to promote limited energy usage and enable customers to tackle changing prices and handle utility needs for reducing peak loads.

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Publication date: 10/18/2016

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