Building Energy Simulation Software Market surpass $10.7 billion by 2030 – Exclusive Report by Coherent Market Insights

The Building Energy Simulation Software Market

Introduction

Burlingame, March 14, 2024 (GLOBE NEWSWIRE) — The Building Energy Simulation Software Market is estimated to be valued at US$ 4.80 billion in 2023 and is expected to exhibit a CAGR of 12.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Building energy simulation software help architects and engineers analyze energy and comfort needs for various building design options. They can simulate how a building’s heating, cooling, ventilation and lighting systems will perform over long periods of time under different conditions.

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Market Dynamics

The growth of the Building Energy Simulation Software Market can be attributed to the increasing focus on sustainable building practices and the rising demand for energy-efficient solutions in buildings. Government initiatives promoting energy conservation and the need to reduce carbon emissions are also driving the adoption of building energy simulation software.

Building Energy Simulation Software Market Report Coverage

Market Trends

Two key trends shaping the Building Energy Simulation Software Market include the integration of advanced technologies such as artificial intelligence and machine learning to improve the accuracy and efficiency of energy simulations, and the growing

SDGs, Targets, and Indicators in the Article

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 7: Affordable and Clean Energy
• SDG 9: Industry, Innovation, and Infrastructure
• SDG 11: Sustainable Cities and Communities
• SDG 13: Climate Action

The article discusses the Building Energy Simulation Software Market, which is directly related to sustainable energy practices, infrastructure development, sustainable cities, and climate action.

2. What specific targets under those SDGs can be identified based on the article’s content?

• Target 7.3: By 2030, double the global rate of improvement in energy efficiency.
• Target 9.4: By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes.
• Target 11.6: By 2030, reduce the adverse per capita environmental impact of cities, including by paying special attention to air quality and municipal and other waste management.
• Target 13.2: Integrate climate change measures into national policies, strategies, and planning.

The targets mentioned above align with the goals of the Building Energy Simulation Software Market to improve energy efficiency, promote sustainable infrastructure, reduce environmental impact, and address climate change.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

Yes, there are indicators mentioned in the article that can be used to measure progress towards the identified targets. These indicators include:

• Market Revenue in 2023: $4.80 billion
• Estimated Value by 2030: $10.7 billion
• Growth Rate: Poised to grow at a CAGR of 12.1%
• Segments Covered: By Component, By Application, By End-use Industry, By Deployment Model, By Organization Size
• Growth Drivers: Government regulations and policies for energy efficiency, growing adoption of green buildings, need to reduce operational costs, advancements in BIM and simulation technologies
• Restraints & Challenges: High deployment costs, interoperability issues, accuracy of simulations

These indicators provide measurable data points to track progress towards the targets mentioned above.

Table: SDGs, Targets, and Indicators

Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.

Source: finance.yahoo.com

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