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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