Building Energy Management Systems investment to exceed US$10B in U.S. by 2016 in effort to optimize energy efficiency in commercial, residential buildings, which use two-thirds of all electricity in U.S.: Pike Research
April 8, 2011
– Commercial and residential buildings are the largest consumers of electricity in the United States, representing nearly two-thirds of all electricity used. As property owners and managers look for ways to reduce their energy expenditures and environmental impact through efficiency measures, they are increasingly adopting “smart building” technologies including automation and controls, high-efficiency systems and equipment, and a broadening array of energy management services. These enhancements are being unified in Building Energy Management Systems (BEMS), which are information technology (IT)-based hardware and software systems being employed in a holistic approach to optimize the efficiency of buildings’ energy consumption. According to a recent report from Pike Research, the BEMS market holds significant opportunity for growth in the next few years, and the firm forecasts that investment in the sector will total $10.1 billion in the U.S. during the period between 2010 and 2016, with a compound annual growth rate (CAGR) of 17.4%.
“When it comes to energy use, commercial buildings are getting smarter all the time,” says research analyst Jevan Fox. “This intelligence, which encompasses everything from sensor networks to predictive supply and demand algorithms to high-efficiency HVAC systems, will require a greater level of control and coordination than legacy building management systems (BMS) can provide. The benefits of BEMS will create a growing market opportunity for a variety of industry players, ranging from traditional building systems companies and energy service companies (ESCOs) to the expanded influence of IT vendors on facilities management.”
Fox adds that this convergence will yield a new era of innovation in how energy is managed and consumed in the building sector, beginning with campus environments and large commercial buildings and eventually influencing small and medium-size buildings as well. BEMS include software-based controllers for building systems, monitoring and measurement devices, and cloud-based energy services such as demand response (DR) that connect buildings to the smart grid.
Pike Research’s report, “Building Energy Management Systems”, analyzes the market opportunity for BEMS in commercial buildings throughout the United States. The report provides a detailed study of the market drivers, barriers, and industry dynamics in today’s market, along with three scenarios for future growth. The characteristics of several key vertical markets are examined, and company profiles and SWOT analyses are provided for key industry players. An Executive Summary of the report is available for free download on the firm’s website.
Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. The company’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 Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. For more information, visit www.pikeresearch.com or call +1-303-997-7609.
© 2017 Business Wire, Inc., All rights reserved.