The market for building energy management systems (BEMSs) continues to grow, driven by technology advances as well as a growing familiarity among customers with the benefits that BEMs provide. A number of new and existing companies are developing software-based platforms to help customers squeeze cost-reducing energy efficiency and operational benefits out of their building portfolios. According to a new report from Navigant Research, worldwide revenue for BEMSs will reach $5.6 billion annually by 2020, more than doubling from the 2013 level.
While many BEMS vendors have developed platforms with commercial and government customers in mind, the utility sector is playing an increasingly important role in the BEMS market, according to the report. Utilities face a growing number of regulations, such as energy efficiency resource standards in the United States, that require them to play a proactive role in reducing the energy consumption of their customer base. A BEMS deployed by a utility to its customers provides energy efficiency gains that utilities can claim in compliance with such regulations.
An Executive Summary of the report is available for free download on the Navigant Research website.