BOULDER, Colo.--(BUSINESS WIRE)--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. Click to tweet: 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.
The report, Building Energy Management Systems, assesses the global market for BEMSs, including the software, services, and hardware components. It analyzes the current state of the market and provides insight into the future direction of BEMS offerings based on the functionality of emerging technologies, shifting customer demands, and other market dynamics. Global market forecasts, segmented by region, offering type, and customer type, extend through 2024. The report also examines variations in the adoption of BEMSs across geographies and customer segments, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global professional services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals deliver expert and advisory work through implementation and business process management services. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients’ needs in highly regulated industries, including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Building Energy Management Systems, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.