|By Business Wire||
|June 10, 2014 04:06 PM EDT||
Although small and medium-sized commercial buildings represent a majority of buildings both in terms of number of buildings and square footage, they have not seen the same level of penetration of building energy management systems (BEMSs) as larger facilities. That is changing as the cost savings enabled by BEMSs become more evident and new construction and regulations promote the installation of BEMS technology, creating new demand for the associated services and software. Click to tweet: According to a new report from Navigant Research, worldwide revenue for BEMSs for small and medium buildings will grow from $277 million annually in 2014 to $1.3 billion in 2022.
“The BEMS market for smaller buildings is expanding as building owners and managers, particularly portfolio managers, demand more energy savings and easier ways to manage energy use in their facilities,” says Noah Goldstein, research director with Navigant Research. “Innovative BEMS solutions are being tested in the market, while increased digital control infrastructure is being installed in both new buildings and retrofits to comply with more stringent building codes. At the same time, executives are pushing for more enterprise energy management to manage costs.”
Software, which forms the backbone of all BEMSs, accounts for nearly half of all BEMS revenue in small and medium buildings. Services account for the next largest proportion and the hardware segment represents the balance of revenue in the sector. These three offering types will increasingly converge as the market matures, according to the report. Buildings will need all three offerings as they become networked and managed either centrally or remotely. Small, medium, and large commercial buildings will need different combinations of these offerings, given their specific management and operational goals.
The report, “Energy Management for Small and Medium Buildings”, analyzes the global market for BEMSs that are deployed in small and medium-sized commercial buildings. It provides an analysis of the market issues, including trends, drivers and barriers, and stakeholders, associated with the sector. Global market forecasts for revenue, segmented by region, offering and building type, and building segment, extend through 2022. The report also examines the main technologies related to BEMSs for small and medium buildings, and profiles the key industry players. 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 expert 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 combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Energy Management for Small and Medium Buildings,” 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.
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