May 18, 2015: Building Energy Management Revenue to Total Nearly $55 Billion from 2015-2024
Adoption of These Systems Varies Regionally Based on Industry and Regulatory Market Drivers
BOULDER, Colo. — During the past decade, as technologies have matured and the economic benefits have become apparent, the global market for building energy management systems (BEMS) has continued to evolve, notes Navigant Research. Along with strategic benefits, such as sustainability improvements and greenhouse gas reductions, these drivers are expected to fuel rapid growth in the coming years. According to a report from the research firm, BEMS revenue is expected to total nearly $55 billion from 2015 to 2024.
“A well-designed and implemented BEMS provides energy, cost, and maintenance savings while supporting corporate objectives, including sustainability or climate-related initiatives,” said Casey Talon, senior research analyst with Navigant Research. “In other words, BEMSs can change the energy management paradigm to deliver strategic and holistic management of facilities and equipment through focused improvements in heating, ventilation, and air conditioning (HVAC), lighting, plug loads, and fire and security systems.”
While the global BEMS market is growing, variations in market characteristics are shaping regional growth forecasts, according to the report. In some regions, such as Asia Pacific and Western Europe, climate change policies are spurring more rapid adoption, while in other areas, like the United States, threats to the utility industry’s traditional business model from increasing generation on the customer side of the meter are starting to generate more interest.
Publication date: 5/18/2015