How big is the building energy simulation software market today, and what are its future growth expectations?
The building energy simulation software market size has grown rapidly in recent years. It will grow from $5.85 billion in 2024 to $6.67 billion in 2025 at a compound annual growth rate (CAGR) of 14.0%. The growth in the historic period can be attributed to growing smart city projects, need for sustainable construction practices, demand for sustainable and energy-efficient solutions, increase in adoption of IoT and Smart Building technologies, retrofitting of existing buildings.
The building energy simulation software market size is expected to see rapid growth in the next few years. It will grow to $11.14 billion in 2029 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to government regulations and policies for energy efficiency, advancements in building information modeling (BIM) and simulation technologies, emergence of net zero energy buildings, increasing awareness of environmental impact, government regulations to reduce carbon emissions. Major trends in the forecast period include Integration of artificial intelligence (AI) and machine learning (ML), integration with Building Information Modeling tools, integration with AR and VR, integration with Internet of Things (IoT), integrated with Building Information Modeling (BIM) and Internet of Things (IoT).
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What have been the primary factors driving the building energy simulation software market’s growth?
An increase in energy demand is expected to propel the growth of the building energy simulation software market going forward. The energy demand is greater as cities become hubs for electricity-dependent activities such as transportation, heating, cooling, and the use of electronic devices. Building energy simulation software aids in optimizing energy usage and improving grid efficiency by providing valuable insights into consumption patterns and facilitating informed decision-making processes. For instance, in 2022, according to the Energy Information Administration, a US-based government agency, in the United States, primary energy consumption was 100.4 quadrillion British thermal units (quads), reflecting a 3% increase from 2021. Therefore, an increase in energy demand is driving the growth of the building energy simulation software market.
What are the key segments within the building energy simulation software market?
The building energy simulation software market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment Model: On-Premise, Cloud-Based
3) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprises
4) By End-User Industry: Architecture And Construction, Government And Defense, Automotive And Transportation, Manufacturing And Engineering, Other End Users
Subsegments:
1) By Software: Building Energy Modeling Software, Hvac Simulation Software, Lighting Simulation Software, Renewable Energy Simulation Software, Energy Efficiency Software, Building Performance Simulation Software
2) By Services: Installation And Integration Services, Consulting And Advisory Services, Training And Support Services, Maintenance And Upgrades Services, Customization Services
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Which key players are shaping the building energy simulation software market?
Major companies operating in the building energy simulation software market are Siemens AG, Dassault Systèmes, Honeywell International Inc., GE Vernova Inc., Schneider Electric, Johnson Controls International plc, Carrier Corporation, Trane Technologies plc, Harbinger Group Inc., Autodesk Inc., Trimble Inc., UL Solutions, Integrated Environmental Solutions (IES) Ltd., ANSYS Inc., Bentley Systems Incorporated, Aurora Solar Technologies Inc., WeaveGrid Inc., EnergyCAP LLC., GARD Analytics, DesignBuilder Software Ltd., EnergyPlus, EnergySoft LLC, Batia Construction Company, Carmel Software Corporation., Equest Software Inc.
How will emerging trends drive the building energy simulation software market throughout the forecast period?
Major companies operating in the building energy simulation software market are developing technologies such as hybrid compilers (HyCo) to enhance the accuracy and efficiency of energy modeling, optimize building designs for energy performance, and enable real-time analysis of energy consumption patterns. A hybrid compiler (HyCo) is a technology that combines various modeling approaches to improve the efficiency and accuracy of energy simulations in building design. For instance, in December 2023, Renesas Electronics, a Japan-based semiconductor manufacturing company, launched the AI Workbench. AI Workbench is designed to empower automotive AI engineers by providing an integrated virtual environment where they can design, simulate, and fine-tune their software directly in the cloud. This platform leverages Microsoft Azure services, enabling engineers to access powerful tools without the need for local installations or physical evaluation boards.
How do regional factors impact the building energy simulation software market, and which region is the largest contributor?
North America was the largest region in the Building Energy Simulation Software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the building energy simulation software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Building Energy Simulation Software Market Report 2025 Offer?
The building energy simulation software market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Building energy simulation software refers to the specialized computer programs designed to model and simulate the energy performance of buildings. These software solutions utilize algorithms and data inputs to analyze factors such as building design, materials, heating, Ventilation, Air Conditioning (HVAC) systems, and environmental conditions to optimize energy efficiency and inform decision-making in construction and retrofit projects.
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