Building Energy Management for the Midmarket to Reach $1.6 Billion in 2025
Ongoing education about building energy management system benefits is accelerating midmarket adoption
BOULDER, Colo. — Larger facilities have relied on building energy management systems (BEMSs) for more than a decade as a way to increase building efficiency through added insight and cost savings, notes Navigant Research. Today, as the intelligent buildings market continues to evolve, owners and operators of smaller facilities are finding the systems can be just as valuable for buildings in the midmarket. According to a new report from the research firm, investment in building energy management systems by midmarket customers is expected to grow from $235.6 million in 2016 to $1.6 billion in 2025.
“The global outlook for BEMSs in the midmarket is optimistic, with aggressive technology adoption following deeper customer understanding of the business benefits of intelligent building software analytics,” said Casey Talon, principal research analyst with Navigant Research. “BEMSs are helping customers realize energy and operational efficiency gains that benefit the bottom line, particularly in the midmarket.”
Energy efficiency was the primary usage when the BEMS market launched several years ago, but today’s vendors tout the broader business benefits these tools can deliver, including the transparency needed for continuous business improvement. According to the report, ongoing market education on how these intelligent building solutions can improve the bottom line is helping to accelerate adoption within the midmarket.
An executive summary of the report is available here.
Publication date: 6/27/2016