by Shane Henson — November 25, 2013—The annual revenue from software-based building energy management systems (BEMS) will grow from $1.1 billion in 2013 to more than $2.8 billion by 2020, according to a recent report from Navigant Research, a market research and consulting firm that provides in-depth analysis of global clean technology markets.
Building Energy Management Systems examines the global market for BEMSs, including hardware, software, and service components. It also 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.
As the report notes, a combination of factors, including increased knowledge of the building stock within the industry, the higher priority of energy efficiency among corporations and governments, and the advent of cloud-based data management and gig data, have led a number of new and existing companies to develop BEMS that can help customers realize new opportunities to squeeze cost-reducing energy efficiency and operational benefits out of their building portfolios.
“Both voluntary and regulatory measures are fueling rapid growth in the global market for BEMS software,” says Eric Bloom, a senior research analyst with Navigant Research. “In Europe, for example, the requirement that large energy consumers develop energy management plans in accordance with the European Union’s Energy Efficiency Directive will drive many companies in the region to look for sophisticated tools that will help them manage and reduce their energy consumption.”
The sophistication and ease of use of BEMS continue to improve on an annual basis, the study concludes. Navigant Research tracks more than 400 companies that have developed and market BEMS technology and provide ongoing services. Such a broad set of market participants creates a number of options for building owners and facilities managers looking to manage their energy more effectively.
