The market is being fueled by the Internet of Things, cloud, and edge computing
A new report from Navigant Research analyzes the global market for building energy management systems (BEMSs), examining technology trends, and providing forecasts, segmented by region, offering type, and customer type, through 2026.
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. Click to tweet: According to a new report from @NavigantRSRCH, global BEMS market revenue is expected to grow from $4.0 billion in 2017 to $13.1 billion by 2026.
“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,” says Christina Jung, research analyst at Navigant Research. “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, and more.
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.
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Market Data: 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.