Building Energy Management Systems Boom Due to Falling Cost, VC Funding
Tools to gather and analyze energy data in buildings are increasingly using SaaS models
BOSTON — With the emergence of data analytics tools and new software-enabled hardware, building energy management services (BEMS) have expanded in capability. BEMS have benefitted from falling costs and $1.4 billion in venture capital (VC) funding to facilitate operational decisions based on analysis of building energy data, reports Lux Research.
“Customers view energy analysis tools across the BEMS spectrum as intelligence tools, and thus companies need to remove the capex hurdle and price them using an approach like Software-as-a-Service (SaaS), amortizing the hardware to keep costs competitive,” said Alex Herceg, Lux Research analyst and lead author of the report titled, “Beyond the Walls: Benchmarking BEMS Software and Hardware.”