Smart buildings technology getting more competitive

October 23, 2013 | By Barbara Vergetis Lundin

Total world sales of Building Energy Management Systems (BEMS) in 2013 will be $16.7 billion with an installed value that will grow to $23.14 billion by 2017, according to Memoori Research.

Credit: Urbanative/Wikimedia Commons

Driven by energy efficiency and energy savings, BEMS will receive global attention due to the need for efficient use of energy resources and reductions in carbon emissions.

Several major multinational companies dominate the products business in most countries across the world and Memoori estimates that between them they take as much as 70 percent of the world's product business. However, the smart buildings technology landscape is getting more competitive by the day -- good news for utilities as vendors compete to bring the most productive and cost effective solutions to market.

Industry heavyweights from IT and building automation are being joined by niche energy management software providers, in the race to deliver sophisticated energy management solutions for automating and transforming facilities in buildings, Memoori says.

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http://www.fierceenergy.com/story/smart-buildings-technology-getting-more-competitive/2013-10-23