The use of building energy management systems is expected to revolutionize the energy management industry. The reducing energy consumption to lower the overhead cost for its end users is done by the installation of intelligent applications. About 103 patents related to building energy management systems were filed or granted across the globe during the time period 2016-2018. These include patents related to any activity in the energy management industry, such as temperature sensors using HVAC control, energy consumption visualization using building automation, anomaly detection using sensors, and thermostat guidance systems, among other functions.
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Out of the XX patents analyzed from 2016 to 2018, Johnson Controls registered the maximum number of patents contributing XX% of the total patents, followed by Honeywell International and Siemens AG contributing XX% and XX%, respectively. In 2018, Johnson Controls invested $XX million in research and development. Other companies, such as Cisco Systems, ENGIE, Rockwell Automation, Optimum Energy LLC, and Emerson Electric, contributed XX%.
The building energy management system market is projected to grow from $XX billion in 2018 to $XX billion by 2025, growing at a CAGR of XX% from 2018 to 2025. The deployment of automation and control systems to steer the application of energy management systems is expected to augment the growth of the market.
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