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Building Energy Management System Revenue Is Expected to Total Nearly $55 Billion From 2015 To 2024

28 Oct 2015 12:25 PM | Deleted user


ARTICLE FROM ELECTRICAL CONSTRUCTION & MAINTENANCE

5-13-2015


A recent report from Navigant Research assesses the global market for building energy management systems (BEMSs), including global market forecasts for revenue, segmented by region, offering type, and customer type, through 2024.


During the past decade, as technologies have matured and the economic benefits have become apparent, the market for BEMS has continued to evolve. Along with strategic benefits, such as greenhouse gas reductions and sustainability improvements, these drivers are expected to fuel rapid growth in the coming years. According to a recent report from Navigant Research, BEMS revenue is expected to total nearly $55 billion from 2015 to 2024.


“A well-designed and implemented BEMS provides energy, cost, and maintenance savings while supporting corporate objectives, including sustainability or climate-related initiatives,” says Casey Talon, senior research analyst with Navigant Research. “In other words, BEMSs can change the energy management paradigm to deliver strategic and holistic management of facilities and equipment through focused improvements in heating, ventilation, and air conditioning (HVAC), lighting, plug loads, and fire and security systems.”


While the global BEMS market is growing, variations in market characteristics are shaping regional growth forecasts, according to the report. In some regions, such as Asia Pacific and Western Europe, climate change policies are spurring more rapid adoption, while in other areas, like the United States, threats to the utility industry’s traditional business model from increasing generation on the customer side of the meter are starting to generate more interest.


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