LONDON--(BUSINESS WIRE)--In the period to 2019, the building energy management software market will grow at an annual rate of up to 15%, according to independent analyst firm Verdantix, but the market is complex and growth trends vary widely across different countries and industries. Cost saving opportunities, building energy efficiency policies and increasing energy prices are driving demand and growth in the market. The Report, Building Energy Management Software Market Size and Forecast 2013-2019, helps software suppliers and their partners project realistic revenue streams and plan effective strategies.
The report incorporates:
|• Interviews with 250 energy leaders directing firms with revenues of at least $250 million.|
|• Research across 21 industries in Australia, Brazil, Canada, France, Germany, India, the UK and the US.|
|• Analysis of legislative and competitive drivers|
|• Categorization of average deal sizes.|
|• Consideration of the size and complexity of deployments.|
The report shows that firms in Germany, the UK and the US currently dominate building energy management spending. In the period to 2019, a combination of factors will drive different adoption rates across countries and industries. Firms will invest increasingly in software because:
|• Firms will be able to identify significant cost savings.|
|• Building energy management software can reduce the cost of reporting and will help buildings meet new minimum mandatory consumption baselines.|
• With energy prices rising globally, software can help offset growing electricity prices by ensuring customers are paying mistake-free utility bills and are on optimal electricity tariffs.
|• The market has matured and customers now have access to an expanding selection of case studies that demonstrate value and inspire buyer confidence.|
|• Firms are continuing to increase investment in energy management projects.|
“The growth will entail firms turning to specialist software suppliers such as Envizi, Elster EnergyICT, Panormaic Power and Verisae or larger firms offering software alongside additional energy services such as EnerNOC, Schneider Electric and Siemens.” stated Alisdair McDougall, Verdantix Industry Analyst.
The study predicts that by 2019:
|• Spend will hit $304 million in the US, $66 million in the UK, $48 million in Germany, $35 million in France and $27 million in Australia.|
|• Brazilian and Indian firms will increase spending by 22% annually|
|• Retail and consumer products firms will dominate spending on software|