The building-to-grid technology global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Building-To-Grid Technology Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The building-to-grid technology market size has grown rapidly in recent years. It will grow from $51.85 billion in 2023 to $57.34 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to increasing energy demand, rising renewable energy adoption, growing grid reliability issues, increasing urbanization trends, and growing energy independence goals.
The building-to-grid technology market size is expected to see rapid growth in the next few years. It will grow to $86.16 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to advancements in energy storage, rising smart grid development, increasing climate change initiatives, growing building energy efficiency, and rising electric vehicle adoption. Major trends in the forecast period include increasing development of building-integrated photovoltaics, rising integration of renewable energy sources in buildings, growing evolution of smart building technologies, increasing vehicle-to-grid (V2G) applications, and rising emphasis on energy resilience and reliability.
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Scope Of Building-To-Grid Technology Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Building-To-Grid Technology Market Overview
Market Drivers –
The increasing electricity demand is expected to propel the growth of the building-to-grid technology market going forward. Electricity demand is growing due to increased urbanization, technological advancements, and the rising use of electric devices and renewable energy systems. Building-to-grid technology optimizes electricity use by allowing buildings to supply excess energy back to the grid and respond to grid demand fluctuations. For instance, in June 2024, according to the Department for Energy Security and Net Zero, a UK-based governmental department, in the first quarter of 2024, electricity demand increased by 1.2% compared to the same period in 2023, reaching 86 terawatt-hours (TWh). Therefore, the increasing electricity demand is driving growth in the building-to-grid technology market.
Market Trends –
Major companies operating in the building-to-grid technology market are focused on developing advanced analytics solutions to enhance energy efficiency and grid interaction. Advanced analytics solutions refer to the use of sophisticated data analysis tools to optimize energy management and improve interactions between buildings and the grid. For instance, in April 2022, CPower, a US-based electric utility company, launched the Building Management System as a Service (BMS-aaS) in New York City to foster efficient, grid-interactive buildings. This innovative solution offers commercial property owners and managers an intelligent building management system at no upfront cost. It empowers them to optimize energy use, cut carbon emissions, and provide demand flexibility to the grid. The BMS-aaS facilitates dynamic interaction between buildings and the grid, enhancing demand response and energy management.
The building-to-grid technology market covered in this report is segmented –
1) By Technology: Smart Sensing, Smart Metering, Control Technology, Energy Storage, Other Technologies
2) By Component: Hardware, Software
3) By End-Use: Commercial, Residential, Industrial
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Regional Insights –
Europe was the largest region in the building-to-grid technology market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the building-to-grid technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the building-to-grid technology market are Hitachi Ltd., Siemens AG, General Electric Company, International Business Machines Corporation (IBM), Cisco Systems Inc., EnBW Energie Baden-Württemberg AG, RWE AG, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Eaton Corporation plc, Parker Hannifin Corp, Emerson Electric Co., Sunrun Inc., WAGO Kontakttechnik GmbH & Co. KG, Schweitzer Engineering Laboratories Inc., Itron Inc., Landis+Gyr AG, Bloom Energy, Ingeteam S.A., S&C Electric Company, Sunnova Energy International Inc., Stem Inc., Doosan GridTech Inc., Smarter Grid Solutions Inc., AlphaStruxure, Sunverge Energy Inc.
Table of Contents
1. Executive Summary
2. Building-To-Grid Technology Market Report Structure
3. Building-To-Grid Technology Market Trends And Strategies
4. Building-To-Grid Technology Market – Macro Economic Scenario
5. Building-To-Grid Technology Market Size And Growth
…..
27. Building-To-Grid Technology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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