Aug. 21, 2013: Building Energy Management Market to Reach $5.6 Billion by 2020
Market to More than Double from 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,” said Eric Bloom, senior research analyst with Navigant Research. “Among end users, awareness is growing that BEMS 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.
Publication date: 8/19/2013