Analysts: BEMS Market to Grow

Lux Research says that the building energy management systems (BEMS) sector is growing. It is using software-as-a-service (SaaS) approaches and pricing as low as $0.01/ft2 to grow. That progress has been buttressed by $1.4 billion in Venture Capital funding between 2000 and 2014. The VC money was divided between building energy technology domains that include energy services, sensors and controls and semiconductors. The breathe of the category has expanded, the report says, and hardware vendors are particularly active.

Lux breaks down the BEMS market into five subgroups: rapid energy modelling, multi-variable analysis, site-specific energy data analytics, hardware-centric BEMS and building control systems.

Last month, Technavio released a report predicting that the BEMS market would expand at a compound annual growth rate (CAGR) of 16.24 percent during the period starting last year and ending in 2019. It tabbed the four key vendors as EnerNOC, Envizi, Schneider Electric and Siemens.