Software is transforming the way energy is used and managed in buildings. A combination of factors, including increased knowledge of the building stock within the industry, the higher priority of energy efficiency among corporations and governments, and the advent of cloud-based data management and Big Data, has led a number of new and existing companies to develop software-based building energy management systems (BEMSs) that can help customers realize new opportunities to squeeze cost-reducing energy efficiency and operational benefits out of their building portfolios. Click to tweet: According to a recent report from Navigant Research, annual revenue from BEMS software will grow from $1.1 billion in 2013 to more than $2.8 billion by 2020.
“Both voluntary and regulatory measures are fueling rapid growth in the global market for BEMS software,” says Eric Bloom, senior research analyst with Navigant Research. “In Europe, for example, the requirement that large energy consumers develop energy management plans in accordance with the European Union’s Energy Efficiency Directive will drive many companies in the region to look for sophisticated tools that will help them manage and reduce their energy consumption.”
The sophistication and ease of use of BEMSs continue to improve on an annual basis, the study concludes. Navigant Research tracks more than 400 companies that have developed and market BEMS technology and provide ongoing services. Such a broad set of market participants creates a number of options for building owners and facility managers looking to manage their energy more effectively.
The report, “Building Energy Management Systems”, examines the global market for BEMSs, including hardware, software, and service components. The report details the current state of the market, and provides insight into the future direction of the technology based on emerging capabilities, technical feasibility, and consumer demand. Forecasts for the global BEMS market, broken down by customer segment, product area, and region, extend through 2020, and key industry players are profiled in depth. An Executive Summary of the report is available for free download on the Navigant Research website.