Monday October 23, 2017 0 comments
BOULDER -- The global building energy management systems (BEMS) market revenue is expected to grow from $4 billion in 2017 to $13.1 billion by 2026, according to a new report from Navigant Research.
Navigant said the BEMS market continues to evolve with an increasing focus on the value of data in commercial buildings. An array of combinations of software, services, and/or hardware can address specific market needs, while customer education on the value of BEMSs continues to drive the market forward.
“In addition to increased customer education, the BEMSs market is being fueled by a few technology trends: the Internet of Things, and cloud and edge computing,” said Christina Jung, Navigant research analyst.
“These trends are expediting BEMS investments that address pain points for commercial customers.”
BEMS solutions vary in levels of integration and functional complexity, and each offering is progressively more integrated and connected than its predecessor, according to the report.
Data collected and analyzed from building systems can be integrated into a larger enterprise system, which can inform IoT use cases such as occupancy data for space utilization, location data for behavior analytics in the retail sector, security and access control via smartphone applications, the report notes.
The report, Market Data: Building Energy Management Systems, analyzes the markets for energy efficient building technologies in Western and Eastern Europe.
The study focuses on seven product types (HVAC, lighting, building controls, water efficiency, water heating, building envelope, and other) and two service types (commissioning and installation).
Market forecasts, which are also segmented by eight commercial building types and by new construction and retrofit spending, extend through 2026.
The report also provides an analysis of the market dynamics, including market drivers and hurdles, opportunities, and unique programs that are helping to extend and broaden commercial building efficiency throughout Europe.
An Executive Summary of the report is available for free download on the Navigant Research website.