The United States market for sensors and controls for building energy management systems (BEMs) is forecast to rise at a 17 percent compound annual growth rate (CAGR) to $2.14 billion in 2020, while its European counterpart is forecast to reach $1.93 billion in 2020, a 19 percent CAGR.

While owners of commercial buildings have been looking to improve energy efficiency for quite some time, the market for building energy management systems is still emerging. According to a report from Pike Research, many of the companies in this growing market are now turning to utilities as a market channel for their products and services.

Smart building managed services are growing in demand and popularity as a means of implementing advanced building energy management systems, according to a new report from Pike Research, a part of Navigant’s Energy Practice.

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, global spending on building energy management systems will total $41 million in 2012 and is forecast to reach $319 million worldwide by 2020.

Utilities and vendors of building energy management systems (BEMS) increasingly find themselves with interlocking interests, and they are looking to each other to solve some of their most pressing issues, notes Navigant Research.