In international news, Southeast Asia’s increased development of smart cities and smart buildings is set to enable the development of a new class of mathematics-based building energy management system (BEMS).
The Frost & Sullivan Energy research team investigated the impact that the next-generation IT solutions such as big data analytics, cloud computing and Internet of Things (IoT), will have on the development of BEMS, which offers both comfort and optimised energy performance.
"Cloud applications will soon become ubiquitous in the Southeast Asian BEMS market," Frost & Sullivan Energy & Environment Research Analyst, Viswesh Vancheeshwar, stated.
Vancheeshwar expanded: "Most market players, even from those outside the traditional building automation market, have already begun to introduce cloud-based BEMS platforms and services. This will open doors and broaden the pool of potential BEMS vendors in the coming years."
Titled BEMS Market in Southeast Asia, Forecast to 2020, the study is part of Frost & Sullivan's Homes & Buildings Growth Partnership Subscription.
The research indicates to have found that the market is at a nascent stage and is set to grow at a compound annual growth rate of 12.2% from 2015 to 2020.
Being a relatively new market, the report states that customers will require technical and troubleshooting support, which multinational giants that complement their solutions with excellent service and support are best positioned to be market leaders.
Rising electricity costs
Another important reason for the increased interest in BEMS in Southeast Asia is associated with the rising costs and demand for electricity, stringent regulations to promote energy conservation, and growth in building construction.
There is particular focus on energy efficiency in buildings as they are responsible for more than 40% of the primary energy consumption in a country, the report stated.
This energy usage is set to rise further due to new construction spurred by high economic growth and the soaring demand for cooling due to Southeast Asia's hot and humid climate.
Vancheeshwar noted: "Although BEMS technology is not completely new and its costs have decreased over the years, the initial costs are still high. In the cost-conscious Southeast Asian market, this makes it difficult for manufacturers to persuade small commercial and industrial facilities to invest in the systems.
“This price sensitivity will prompt suppliers to roll out training and awareness programs to improve end users' commitment to energy conservation and management.”
Featured image: Forbes