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.
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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.
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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
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