Oct. 6, 2014: Building Energy Management for Smaller Buildings to Top $6 Billion from 2014 to 2022
New Regulations and the Adoption of Enterprise Energy Management Are Driving Market Growth
BOULDER, Colo. — The market for building energy management systems (BEMS) for small and medium-sized commercial buildings is expanding as building owners and managers demand more energy savings and easier ways to manage energy use in their facilities, notes Navigant Research. While these buildings represent less space, in terms of square feet, than larger commercial buildings, in sheer numbers they make up the majority of commercial buildings worldwide. According to a report from the research firm, worldwide cumulative investment in BEMS for small and medium-sized buildings is expected to total nearly $6.1 billion from 2014 to 2022.
“Lower expenditures on energy management in the small and medium-sized building market, along with the lower penetration of advanced controls and building management systems, has limited the penetration of BEMS in this sector,” said Noah Goldstein, research director with Navigant Research. “Given the increasing importance of energy savings, however, BEMS are poised to be a tool that enables savings in both cost and carbon emissions in small and medium buildings.”
The most rapid growth in the BEMS market for smaller buildings, according to the report, is expected to occur in Europe and Asia Pacific, where new construction and regulation are promoting the installation of BEMS equipment and in turn creating demand for associated services and software. In the North American market, BEMS sales are expected to be concentrated in software, driven by utility and regulatory initiatives that promote energy efficiency and building energy reporting.
Publication date: 10/6/2014