North America Building Energy Management Systems Market Size, Share & Trends Analysis Report By Category (Software, Hardware, and Service), By End-User (Residential, Commercial & Institutional, and Industrial), By Country and Growth Forecast, 2023 - 2030
North America Building Energy Management Systems Market Size, Share & Trends Analysis Report By Category (Software, Hardware, and Service), By End-User (Residential, Commercial & Institutional, and Industrial), By Country and Growth Forecast, 2023 - 2030
The North America Building Energy Management Systems Market would witness market growth of 10.3% CAGR during the forecast period (2023-2030).
As concerns about climate change and environmental degradation escalate, regulators are mandating businesses to monitor and reduce their carbon footprint. BEMS provides a practical solution for organizations to comply with these regulations by offering a systematic approach to managing and optimizing energy consumption. Furthermore, sustainability initiatives undertaken by governments and industry associations are encouraging businesses to adopt BEMS voluntarily. These initiatives often come with incentives, tax breaks, or other benefits for organizations demonstrating a commitment to sustainable practices, further motivating the adoption of energy-efficient technologies.
Recognizing the significance of corporate social responsibility (CSR) and its influence on brand image is growing among many organizations. Adopting BEMS aligns with the broader CSR goals of reducing environmental impact and promoting sustainability. Organizations that demonstrate a dedication to energy efficiency by implementing BEMS can improve their reputation, attract environmentally conscious customers, and distinguish themselves in the market. BEMS contributes to operational resilience by providing insights into the health and performance of critical building systems. Organizations can detect and resolve problems with predictive maintenance capabilities before they result in system failures or downtime. This proactive approach reduces maintenance costs and ensures the continuous operation of essential services.
The awareness of cybersecurity risks has grown in Mexico, prompting businesses and organizations to prioritize the protection of their BEMS. BEMS often involves integrating Internet of Things (IoT) devices for real-time monitoring and control in Mexico. In Mexico, there is a greater attack surface for potential cyber threats due to the growth of connected devices. The focus on cybersecurity ensures the protection of these interconnected systems. Organizations deploying BEMS in Mexico are collaborating with cybersecurity experts and consulting firms. Continuous monitoring and auditing of BEMS activities is critical for identifying and mitigating potential security concerns in Mexico. The integration of cybersecurity solutions allows organizations to monitor system activities, detect anomalies, and conduct regular security audits in Mexico. Hence, the factors mentioned above will drive the regional market growth.
The US market dominated the North America Building Energy Management Systems Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,384.7 Million by 2029. The Canada market is experiencing a CAGR of 12.8% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 11.8% during (2023 - 2030).
Based on Category, the market is segmented into Software, Hardware, and Service. Based on End-User, the market is segmented into Residential, Commercial & Institutional, and Industrial. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
ABB Ltd.
General Electric Company
Honeywell International, Inc.
Hitachi, Ltd.
Siemens AG
Schneider Electric SE
Emerson Electric Co.
Rockwell Automation, Inc.
Eaton Corporation PLC
mCloud Technologies Corp.
North America Building Energy Management Systems Market Report Segmentation
By Category
Software
Hardware
Service
By End-User
Residential
Commercial & Institutional
Industrial
By Country
US
Canada
Mexico
Rest of North America
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Building Energy Management Systems Market, by Category
1.4.2 North America Building Energy Management Systems Market, by End-User
1.4.3 North America Building Energy Management Systems Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Opportunities
3.2.3 Market Restraints
3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.2.3 Acquisition and Mergers
4.3 Top Winning Strategies
4.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
4.3.2 Key Strategic Move: (Mergers & Acquisition: 2020, Mar – 2023, Oct) Leading Players
4.4 Porter’s Five Forces Analysis
Chapter 5. North America Building Energy Management Systems Market by Category
5.1 North America Software Market by Country
5.2 North America Hardware Market by Country
5.3 North America Service Market by Country
Chapter 6. North America Building Energy Management Systems Market by End-User
6.1 North America Residential Market by Country
6.2 North America Commercial & Institutional Market by Country
6.3 North America Industrial Market by Country
Chapter 7. North America Building Energy Management Systems Market by Country
7.1 US Building Energy Management Systems Market
7.1.1 US Building Energy Management Systems Market by Category
7.1.2 US Building Energy Management Systems Market by End-User
7.2 Canada Building Energy Management Systems Market
7.2.1 Canada Building Energy Management Systems Market by Category
7.2.2 Canada Building Energy Management Systems Market by End-User
7.3 Mexico Building Energy Management Systems Market
7.3.1 Mexico Building Energy Management Systems Market by Category
7.3.2 Mexico Building Energy Management Systems Market by End-User
7.4 Rest of North America Building Energy Management Systems Market
7.4.1 Rest of North America Building Energy Management Systems Market by Category
7.4.2 Rest of North America Building Energy Management Systems Market by End-User
Chapter 8. Company Profiles
8.1 ABB Ltd.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Product Launches and Product Expansions:
8.1.5.2 Acquisition and Mergers:
8.1.6 SWOT Analysis
8.2 General Electric Company
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 Recent strategies and developments:
8.2.5.1 Acquisition and Mergers:
8.2.6 SWOT Analysis
8.3 Honeywell International, Inc.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.3.5.2 Product Launches and Product Expansions:
8.3.6 SWOT Analysis
8.4 Hitachi, Ltd.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expenses
8.4.5 Recent strategies and developments:
8.4.5.1 Product Launches and Product Expansions:
8.4.5.2 Acquisition and Mergers:
8.4.6 SWOT Analysis
8.5 Siemens AG
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expense
8.5.5 Recent strategies and developments:
8.5.5.1 Partnerships, Collaborations, and Agreements:
8.5.5.2 Product Launches and Product Expansions:
8.5.5.3 Acquisition and Mergers:
8.5.6 SWOT Analysis
8.6 Schneider Electric SE
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 Recent strategies and developments:
8.6.5.1 Partnerships, Collaborations, and Agreements:
8.6.5.2 Product Launches and Product Expansions:
8.6.5.3 Acquisition and Mergers:
8.6.6 SWOT Analysis
8.7 Emerson Electric Co.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expense
8.7.5 Recent strategies and developments:
8.7.5.1 Product Launches and Product Expansions:
8.7.5.2 Acquisition and Mergers:
8.7.6 SWOT Analysis
8.8 Rockwell Automation, Inc.
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expenses
8.8.5 SWOT Analysis
8.9 Eaton Corporation PLC
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expense
8.9.5 Recent strategies and developments:
8.9.5.1 Partnerships, Collaborations, and Agreements: