Building Energy Management Revenue to Total Nearly $55 Billion from 2015-2024
The transition to the energy cloud will redefine the relationship between buildings and energy
BOULDER, Colo. — Changing customer demands, regulations and sustainability goals, and power regulation and resiliency concerns are leading building owners to realize that the guidelines they have traditionally used to assess their portfolios are changing. In 2016 and beyond, Navigant Research anticipates building owners and key decision makers will invest in an array of buildings solutions that embody the technology foundation of the Internet of Things (IoT) and cloud computing. According to a report from the research firm, building energy management system revenue is expected to total nearly $55 billion from 2015 to 2024.
“The facilities industry must respond to an aging workforce, changing customer demands, and an evolving and more data-driven technology landscape,” said Casey Talon, principal research analyst with Navigant Research. “This growing familiarity with and reliance on information technologies opens the door to the adoption of intelligent building solutions.”
According to the report, in a concept that parallels that of cloud computing, Navigant research expects the once-linear framework of power generation and consumption to evolve into a more interactive network called the energy cloud. This transition will redefine the relationship between buildings and the energy supply through the increased integration of distributed energy resources and building performance data.
The report, “Intelligent Buildings: 10 Trends to Watch in 2016 and Beyond,” presents the top 10 trends for the intelligent buildings market. It examines the major market issues driving investment in intelligent building solutions, as well as the business case and opportunities associated with various intelligent building solution areas, such as building energy management systems (BEMS) and HVAC optimization.
An executive summary of the report is available here.
Publication date: 8/31/2016