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The building energy management systems (BEMS) market will continue to grow at a gradual pace over the next decade, with the industry set to increase at a compound annual growth rate (CAGR) of 8.9% through to 2020.
Commercial buildings are high energy consumers on a global basis, and as such are receiving much attention with regard to the potential savings that can be achieved with new technologies that are being utilised to monitor and control their energy use.
Given the challenging business and economic environment of recent years, governments, building owners, building tenants, and companies in general are looking for ways to become more efficient both fiscally and environmentally. BEMS are one key mechanism for achieving these efficiencies.
Worldwide spending on these services - which include data acquisition and analytics, as well as building maintenance contracts - will grow from $291 million in 2012 to $1.1 billion by 2020.
As part of the effort to cut costs in the global recession, many commercial building owners have installed traditional, non-smart building energy management systems to reduce energy use and operating expenses.
While these systems can provide significant efficiency gains, their sophistication can be beyond the capabilities and resource levels of a building's operating or maintenance staff.
New companies, new technologies, unique business models, and a variety of market access methods are changing the face of the BEMS market. Small but sophisticated start-ups are challenging established methods of analysing building energy performance, and challenging the large established players as well.
The established and well known players are not sitting still, however, and are bringing innovation to the way they provide end to end products and services to their clients across the enterprise.
Some of the strongest competitors are the large building systems equipment manufacturers, including Johnson Controls, Siemens, and Schneider Electric, which provide a wide variety of products and services in many different areas.
For more information on the building energy management systems market, see the latest research: Building Energy Management Systems Market
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