Building Energy Management Software Market Grows to $514M by 2019, Says Verdantix

October 17, 2014 By Linda Hardesty

VerdantixIn the period to 2019, the building energy management software market will grow at an annual rate of up to 15 percent, according to a new report from analyst firm Verdantix.

The report, Building Energy Management Software Market Size and Forecast 2013-2019, shows that firms in the retail, consumer products and business sectors in Germany, the United Kingdom and the US currently dominate building energy management spending. In the period to 2019, a combination of regulatory and discretionary 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, Panoramic Power and Verisae or larger firms offering software alongside additional energy services such as EnerNOC, Schneider Electric and Siemens, according to the report.

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 percent annually.
  • Retail and consumer products firms will dominate spending on software.

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