Building Energy Simulation Software Market
Building Energy Simulation Software Market (Component: Software/Platform and Services; Deployment: Cloud and On-premise; and End User: Owner, Builder, and Researcher) - Global & India Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Long-term Cost Savings with Simulation Software Create Business Opportunities during COVID-19
The COVID-19 outbreak has affected the growth of the building energy simulation software market, as individuals in residential, commercial, and industrial sectors have been budget-strained during the pandemic and are opting for only essential investments. Hence, companies in the market are targeting MNCs (Multinational Corporation) and consumers who can make upfront investments in software solutions. Software companies are boosting their marketing capabilities for software solutions that offer long-term cost savings for individuals in residential, commercial, and industrial sectors. This is expected to drive the building energy simulation software market.
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Models of Environmentally Adaptive Occupant Behavior Grow Prominent in Energy Simulation Software
Researchers, software developers, and policy makers are playing a key role to maximize the value of building performance simulation in the design and operation of low energy buildings. However, software developers in the building energy simulation software market need to address challenges of modeling human-building interaction. In order to achieve this, developers are introducing models of environmentally adaptive occupant behavior in simulation software. In order to upgrade their credibility in the market landscape, companies are developing software that comply with zero net energy (ZNE) and grid responsive buildings.
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Zero-Net-Energy Buildings Create Importance for Building Performance Goals, Ratings
The building energy simulation software market is estimated to surpass the valuation of US$ 17.1 Bn by the end of 2030. The concept of zero-net-energy buildings is being highly publicized in the market landscape. This is acting as a key driver for market growth, since building performance modeling and energy modeling have become an inseparable part of the design and construction industry. As such, companies are increasing the availability of thermal comfort models that adjust to day lighting in buildings. Thus, to overcome the issue of performance gap in software solutions, companies are developing software that support the verification of building performance goals and ratings.
Practical Expertise on Implementing Right Tools Builds Credibility of Software Providers
The building energy simulation software market is experiencing a shift from comparative energy modeling to performance energy modeling. This is evident since the market is predicted to clock a striking CAGR of ~16% during the assessment period. Software developers are increasing efforts to simplify the area of building energy performance by offering practical expertise on implementing the right tools at the right time. They are making use of past projects, measured data, and innovative ideas in order to give clients a holistic service.
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Cost benefits of building energy simulation software are anticipated to attract business opportunities during the COVID-19 situation. Apart from day lighting, companies are offering simulation tools for façade design and compliance in construction applications by focusing on offering illustrative options to the users. However, manufacturers need to address challenges that cater to urban-scale building energy modeling. Hence, companies in the building energy simulation software market should develop software that support city-scale building energy and efficiency measures needed to achieve energy and environmental goals. As such, companies are setting their collaboration wheels in motion to increase the availability of software that meet energy regulations and adhere to standards that lower carbon emissions.
Building Energy Simulation Software Market: Overview
- According to a latest research report on the global building energy simulation software market published by Transparency Market Research for the historical period 2018–2019 and the forecast period 2020–2030, rise in demand for energy saving is anticipated to propel the building energy simulation software market during the forecast period. 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.
- In terms of revenue, the global building energy simulation software market is estimated to exceed the value of US$ 17.1 Bn by 2030, expanding at a CAGR of ~16% during the forecast period
Increase in Adoption of Software Platforms and Tools to Improve Energy Analysis and Management: A Key Driver of Building Energy Simulation Software Market
- Building energy simulation software integrate with building information modeling tools to improve energy management and analysis process. Building energy simulation software enable architects, researchers, and engineers to study and analyze energy consumption in different end-points such as lighting, ventilation, cooling, heating, and plug & process loads, as well as the consumption of water in building infrastructure.
- Architects and engineers are focused on developing diverse ways of constructing modern and sustainable infrastructure by using advanced building solutions and building energy consumption modeling solutions. These advanced solutions are utilized for retrofit designs, green certification, code compliance, utility incentives, qualification for tax credit, and provide real-time building control to end users.
- Construction companies are adopting advanced energy and process solutions to improve consumption of resources. Thus, rise in adoption of software platforms and tools to improve energy analysis and management is projected to fuel the demand for building energy simulation software during the forecast period.
Cloud-based Building Energy Simulation Software
- Rapid developments in the field of IT and telecommunication are opening up cost-effective and simpler ways to deliver building energy simulation software. The cloud- based building energy simulation software segment is expected to expand at the highest CAGR during the forecast period. Most construction companies are adopting cloud-based solutions and services to improve the efficiency of architects and engineers by providing real-time access to information. Thus, solution vendors offering cloud-based solutions have opportunities to attract new customers and increase their share of the building energy simulation software market globally.
Building Energy Simulation Software Market: Competition Landscape
- Detailed profiles of providers of building energy simulation software have been given in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global building energy simulation software market are
- 4M S.A.
- Autodesk, Inc.
- Batia Construction
- Carmel Software Corporation
- Carrier Corporation
- DesignBuilder Software Ltd
- EDSL (Environmental Design Solutions Ltd)
- EnergyCAP, Inc.
- EnergyPeriscope (Solar Investments Inc.)
- IES (Integrated Environmental Solutions) Limited
- Lighting Analysts, Inc.
- OpenStudio (Alliance for Sustainable Energy, LLC)
- Performance Systems Development
- Radiance Energy, Inc.
- SketchUp (Trimble Inc.)
- Snugg Home, LLC
- Thermal Dynamics, Inc.
- Thermal Energy System Specialists, LLC
- Trane Technologies Company, LLC
- TRNSYS (Thermal Energy System Specialists, LLC)
- AcousticCalc, Cove Tool, Inc.
- eQUEST (DOE-2)
- kW Engineering, Inc.
- Ladybug Tools LLC
- QwickLoad (HVAC SOFT, INC)
- Spot Pro (Daylighting Innovations)
Building Energy Simulation Software Market: Key Developments
- Key providers of building energy simulation software, such as Autodesk, Inc., Trane Technologies Company, LLC, Sefaira, SketchUp, EnergyCAP, Inc., Carrier Corporation, and Performance Systems Development are focusing on the development of cost-effective building energy simulation software to attract more customers. Additionally, players active in providing building energy simulation software are focusing on inorganic growth strategies such as strategic collaborations and mergers & acquisitions with technology partners to improve their offerings and market reach in the building energy simulation software market.
- Some other key developments in the global building energy simulation software market are highlighted below:
- In September 2020, Carmel Software announced a collaboration with the Texas Air Conditioning Contractors Association of Greater Houston (TACCA) to promote Carmel's HVAC ResLoad-J app to its membership
- In September 2020, OpenStudio released the version of OpenStudio 3.1.0 that includes EnergyPlus, Command Line Interface (CLI), Radiance, Ruby API, and C++ SDK.
- In February 2020, Lighting Analysts, Inc. released PPFD calculations for horticulture in ElumTools to improve the performance of supporting applications such as Autodesk’s Revit
- In the global building energy simulation software market report, we have discussed individual strategies, followed by company profiles of providers of building energy simulation software. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global building energy simulation software market.
Building Energy Simulation Software Market – Scope of the Report
A latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global building energy simulation software market to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the building energy simulation software market, to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the building energy simulation software market is expected to progress during the forecast period of 2020-2030.
The report offers intricate dynamics about the different aspects of the building energy simulation software market that aids companies operating in the market in making strategic development decisions. TMR’s study elaborates on the significant changes that are highly anticipated to configure the growth of the building energy simulation software market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the building energy simulation software market, and estimate statistics related to the market progress in terms of value (US$ Mn).
The study covers a detailed segmentation of the building energy simulation software market, along with country analysis, key information, and a competitive outlook. The report mentions the company profiles of key players that are currently dominating the building energy simulation software market, wherein various developments, expansions, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Building Energy Simulation Software Market
The report provides detailed information about the building energy simulation software market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the building energy simulation software market, so as to help them make successful strategies and take target-driven decisions.
- Which regions will continue to remain the most profitable markets for building energy simulation software market players?
- Which factors will induce a change in demand for building energy simulation software during the assessment period?
- How will changing trends impact the building energy simulation software market?
- How will COVID-19 impact the building energy simulation software market?
- How can market players capture low-hanging opportunities in the building energy simulation software market in developed regions?
- Which companies are leading the building energy simulation software market?
- What are the winning strategies of stakeholders in the building energy simulation software market to upscale their position in this landscape?
- What will be the Y-o-Y growth of the building energy simulation software market between 2020 and 2030?
- What are the winning imperatives of market frontrunners in the building energy simulation software market?
Research Methodology – Building Energy Simulation Software Market
The research methodology adopted by analysts to compile the building energy simulation software market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the building energy simulation software market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the building energy simulation software market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the building energy simulation software market.
Building Energy Simulation Software Market – Segmentation
TMR’s research study assesses the building energy simulation software market on the basis of component, deployment, end user, and region. The report presents extensive market dynamics and progressive trends associated with different segments, and how they influence the growth prospects of the building energy simulation software market.