HVAC Breaking News / Energy Management Systems

Oct. 29, 2013: Building Energy Management Systems Market to Reach $23 Billion by 2017

Global Attention Is on the Efficient Use of Energy and Reduction in CO2 Emissions

October 29, 2013
LONDON — A new report on the market for building energy management systems (BEMS) and enterprise energy management (EEM), published by Memoori Business Intelligence Ltd., says total global sales of BEMS will be $16.7 billion in 2013, and it is forecast to grow to $23.14 billion by 2017, a compound annual growth rate (CAGR) of approximately 8.4 percent.

Energy savings remain the key driver for the BEMS and EEM markets. Global attention is on the efficient use of energy resources and reduction in CO2 emissions. With buildings accounting for around 40 percent of primary energy usage, the research firm says, savings here can make a significant impact.

The major multinational companies Honeywell, Johnson Controls, Schneider Electric, Siemens, and United Technologies Corp. (UTC) dominate the products business in most countries across the developed world, says Memoori. The firm estimates that between them they take as much as 70 percent of the world’s product business and they have held this position for 15 years through an active acquisition strategy.

The smart buildings technology landscape is getting more competitive by the day, notes Memoori. This is good news for end users, as vendors are competing to bring the most productive and cost effective solutions to market. Industry heavyweights from IT and building automation are being joined by niche energy management software providers in the race to deliver sophisticated energy management solutions for automating and transforming facilities in buildings.

For more information, visit http://memoori.com.

Publication date: 10/28/2013

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