Dec. 24, 2012: Building Energy Management Systems Market to Reach Nearly $320 Million by 2020
BOULDER, Colo. — The market for building energy management systems (BEMS) is expected to grow substantially over the rest of the decade. According to a new report from Pike Research, a part of Navigant’s Energy Practice, global spending on building energy management systems will total $41 million in 2012 and is forecast to reach $319 million worldwide by 2020.
Utilities are looking to BEMS to help boost the effectiveness of their energy efficiency and demand-side management programs, better understand customer energy use patterns, and engage multiple segments of their commercial client base with new money-saving programs, noted Pike Research. At the same time, commercial building energy management vendors are finding that these technologies can help them gain access to large new customer bases that were previously cost-prohibitive to access.