Global Building Energy Simulation Software Market - Introduction
- Building energy simulation software is computer-based simulation software, specifically designed to perform comprehensive analysis of a building’s energy use or to analyze the energy-using systems of a building.
- Building energy simulation software utilizing specialized software/ platform tools that address particular concerns, such as day-lighting, moisture transfer from building materials, natural ventilation, occupant comfort, and indoor air quality.
- Building energy simulation software provides various benefits to both new construction and retrofit building projects. For instance, the software supports an integrated design process (IDP) that enables outcome-based goals which are generally beneficial for project stakeholders.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report
Impact of Coronavirus (COVID-19) on the Building Energy Simulation Software Market
Lockdown due to the spread of Coronavirus (COVID-19) across major regions such as Europe, Asia, and North America, has a negative impact on the building energy simulation software market. Currently, the construction sector has stopped operations or construction activity worldwide due to the spread of COVID-19. This is having a significant negative impact on the adoption of building energy simulation software systems worldwide.
Increasing Environmental and Energy Concerns Worldwide Driving the Global Building Energy Simulation Software Market
- The building energy simulation software market is expected to witness exponential growth during the forecast period due to increasing environmental and energy concerns that arise from increasing construction activities across the globe. The simulation software provides numerous advantages such as increasing the effectiveness of the building and reducing the energy consumption level by deploying assorted equipment which are generally utilized for applications such as underfloor air distribution systems. Furthermore, the software improves the process of building energy management by reducing the consumption of electricity used during construction as well as the maintenance phase of the building.
- The construction industry is one of the significant contributors to environmental degradation (carbon emissions, climate change, etc.). Government agencies are focusing on implementing regulatory standards to reduce the effect of carbon emissions and have focused on construction of green buildings for sustainable growth worldwide. For example, the U.K., U.S., UAE, and Singapore have formulated various government regulations for green structures.
- Thus, increasing environmental and energy concerns is influencing the adoption of building energy simulation software worldwide.
Low Awareness Related to Green Building Eco-system in Under Developed Economies Hampering the Global Building Energy Simulation Software Market
- Adoption of green building eco-systems in under developed regions is low as compared to developed regions. Financial difficulties and lack of proper infrastructure are the significant factors expected to hamper the adoption of a green building eco-system in these regions. However, increasing government initiatives to deal with environment concerns is expected to drive the adoption of building energy simulation software during the forecast period.
Expanding operations in future? To get the perfect launch ask for a custom report
North America to Account for Major Share of the Global Building Energy Simulation Software Market
- In terms of region, the global building energy simulation software market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is anticipated to account for major share of the global building energy simulation software market during the forecast period due to supportive regulatory compliances for green building eco-systems, and higher adoption rate of technologically innovative products, indicating potential growth of the building energy simulation software market in the region. Europe is expected to be the second largest market for building energy simulation software from 2020 to 2030.
- Asia Pacific is projected to be a rapidly growing market for building energy simulation software during the forecast period due to increasing construction projects, specifically in India, Japan, and China.
Key Players Operating in the Global Building Energy Simulation Software Market Include:
- ABB Ltd.
- Autodesk, Inc.
- Cisco Systems, Inc.
- Emerson Electric Co.
- Honeywell International Inc.
- IBM Corporation
- Schneider Electric
Global Building Energy Simulation Software Market: Research Scope
Global Building Energy Simulation Software Market, by Solutions
- Software/ Platform
Global Building Energy Simulation Software Market, by Deployment
Global Building Energy Simulation Software Market, by Enterprise Size
- Small & Medium Enterprise
- Large Enterprise
Global Building Energy Simulation Software Market, by End-user
- IT & Telecom
- Others (Automotive, Manufacturing)
Global Building Energy Simulation Software Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.