Building Energy Management Market to Grow

REVENUES for the building energy management solutions market will grow by 19 percent over the next four years according to TechSci Research.

TechSci Research, who provide research based consulting solutions, forecast in a report that a double-digit rise will take place due to a combination of progressive government policies and a larger number of “smart” buildings, particularly in North America.

The study also forecasts that the market in other regions, while smaller, will expand faster.

What’s driving this growth? A rising demand because of rapid urbanization, the construction of new buildings, increased IT spending, and the increasing adoption of energy efficiency.

New developments in renewable energy technologies such as rooftop solar power plants, wind farms, and energy efficient hardware are making this market expansion possible.

The report also notes that many companies providing energy management solutions are seeing a good return on new buildings rather than just retrofitting older ones, as the installation of new energy efficiency technology is simpler and offers higher energy savings.

The bottom line from the report is: Producing energy savings in buildings is good business that will only get better.