Energy Efficient Buildings Market Growing
The market for building energy management systems (BEMSs) continues to grow, driven by technology advances as well as a growing familiarity among customers with the benefits that BEMs provide.
A number of new and existing companies are developing software-based platforms to help customers squeeze cost-reducing energy efficiency and operational benefits out of their building portfolios. According to a new report from Navigant Research, worldwide revenue for BEMSs will reach $5.6 billion annually by 2020, more than doubling from the 2013 level.
“Building energy management systems represent one of the fastest-growing and most promising waves of innovation ever to occur in the building industry,” says Eric Bloom, senior research analyst with Navigant Research.
“Among end users, awareness is growing that BEMSs can help companies not only reduce their energy consumption, but also improve the operational performance of facilities and gain insight into occupancy trends in their buildings worldwide.”
While many BEMS vendors have developed platforms with commercial and government customers in mind, the utility sector is playing an increasingly important role in the BEMS market, according to the report.
Utilities face a growing number of regulations, such as energy efficiency resource standards in the United States, that require them to play a proactive role in reducing the energy consumption of their customer base. A BEMS deployed by a utility to its customers provides energy efficiency gains that utilities can claim in compliance with such regulations.
The report, “Building Energy Management Systems”, examines the global market for BEMSs, including hardware, software, and service components. The report details the current state of the market, and provides insight into the future direction of the technology based on emerging capabilities, technical feasibility, and consumer demand.
Forecasts for the global BEMS market, broken down by customer segment, product area, and region, extend through 2020, and key industry players are profiled in depth. An Executive Summary of the report is available for download on the Navigant Research website.