BEMS Market to Exceed $13 Billion by 2026

 

The global market for building energy management systems (BEMSs) will exceed $13 billion by 2026.

These findings, by Navigant research, say 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.

“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 reportMarket 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.

Last year, Schneider Electric and Honeywell were named the top providers of BEMS software by Navigant. A trend in the BEMs world is bringing sophisticated systems to smaller buildings. These platforms tend to be complex and expensive. The emergence of cloud computing and other tools makes it possible for facilities with smaller footprints to enjoy the same benefits.

 

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