Building Energy Software Market to Grow at 16.24% CAGR to 2019
Building energy software helps in the prediction of energy usage of buildings
NEW YORK — The global building energy software market is forecast to grow at a compound annual growth rate (CAGR) of 16.24 percent over the period 2014-2019, according to a report by Technavio.
Building energy management systems (BEMS) are deployed in buildings for efficient energy performance, notes the report. These systems control and manage building functions including HVAC, lighting, fire prevention, safety, and security. They are installed in commercial buildings, IT facilities, hotels, restaurants, manufacturing plants, retail outlets, and residential buildings for effective facility management.