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.”