Dive Brief:
- Building energy management software (BEMS) revenue will nearly triple from $1.1 billion in 2013 to more than $2.8 billion by 2020, according to a new report by Navigant Research.
- Increased knowledge of the building stock, a growing emphasis on energy efficiency and cloud-based data management has encouraged companies to develop BEMS to help customers squeeze cost-reducing energy efficiency and operational benefits out of their buildings.
Dive Insight:
The imperative to drive down costs inspires many an American operation, so the effect may be the same. “Both voluntary and regulatory measures are fueling rapid growth in the global market for BEMS software,” says Eric Bloom, senior research analyst with Navigant Research.
