What Is The Current and Historic Market Size Analysis Of The Building To Grid Technology Market?
The building to grid technology market has seen considerable growth due to a variety of factors.
• In recent times, the building-to-grid technology market has witnessed significant growth. The market size is projected to surge from $57.34 billion in 2024 to $63.57 billion in 2025, indicating a compound annual growth rate (CAGR) of 10.9%.
The impressive growth recorded in the historic period is a result of factors like increasing energy demands, the rise in the adoption of renewable energy, the growth of grid reliability issues, expanding urbanization trends, and an increase in the pursuit of energy independence goals.
What Are The Predictions for The Building To Grid Technology Market in the Coming Years?
The building to grid technology market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for building-to-grid technology is poised for considerable expansion in the upcoming years, with projections pointing towards a value of $95.23 billion by 2029, marking a compound annual growth rate (CAGR) of 10.6%.
The momentum fueling this growth during the forecast period is driven by breakthroughs in energy storage solutions, an increased focus on developing smart grids, initiatives to combat climate change, enhanced energy efficiency within buildings, and a rising trend in adopting electric vehicles. The course of future trends is determined by the escalating development of building-integrated photovoltaics, increased adoption of renewable energy sources in buildings, the advancement of smart building technologies, proliferation of vehicle-to-grid (V2G) applications, and growing emphasis on maintaining energy resilience and robust reliability.
Which Drivers Are Accelerating Growth In The Building To Grid Technology Market?
The surging requirement for electricity is predicted to drive the expansion of the building-to-grid technology market in the future. This demand for electricity is on the rise due to the growth of urbanization, technological progress, and the escalating usage of electric devices and renewable energy systems. Building-to-grid technology utilizes electricity more efficiently by enabling buildings to return surplus energy to the grid and adapt to shifting grid demand. For example, in June 2024, the UK's Department for Energy Security and Net Zero reported a 1.2% increase in electricity demand in the first quarter of 2024, reaching 86 terawatt-hours (TWh), compared to the same timeframe in 2023. Consequently, the escalating demand for electricity is stimulating growth in the building-to-grid technology market.
What Are The Core Segments Of The Global Building To Grid Technology Market?
The building-to-grid technologymarket 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
Subsegments:
1) By Smart Sensing: Environmental Sensors, Energy Usage Sensors, Occupancy Sensors
2) By Smart Metering: Advanced Metering Infrastructure (AMI), Smart Energy Meters, Two-Way Communication Meters
3) By Control Technology: Building Energy Management Systems (BEMS), Demand Response Systems, Automated Control Systems
4) By Energy Storage: Battery Energy Storage Systems (BESS), Thermal Energy Storage, Pumped Hydro Storage
5) By Other Technologies: Distributed Energy Resources (DER), Microgrid Technologies, Vehicle-to-Grid (V2G) Technologies
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How Are New Trends Impacting The Size Of The Building To Grid Technology Market?
Prominent players in the building-to-grid technology market are concentrating on the creation of superior analytics solutions to boost energy efficiency and interaction with the grid. These advanced solutions utilize high-level data analysis tools to refine energy management and augment connection between structures and the grid. For example, CPower, a US electric utility company, debuted its Building Management System as a Service (BMS-aaS) in New York City in April 2022 to promote the construction of efficient, grid-responsive buildings. This cutting-edge solution, offered with no initial expense, gives commercial property administrators and owners access to an intelligent building management system. It enables them to reduce energy consumption, lower carbon emissions, and supply the grid with demand flexibility. The BMS-aaS stimulates a dynamic link between buildings and the grid, improving demand response and energy management.
Who Are the Key Players In The Building To Grid Technology Market?
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.
What Are The Regional Insights Into The Building To Grid Technology Market?
Europe was the largest region in the building-to-grid technology market in 2024. 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.
