Fast Market Research announces the availability of the new TechNavio report, "Global Building Energy Software Market 2015-2019", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 08/18/2015 -- Building Energy Management Systems (BEMS) are deployed in buildings for efficient energy performance. These systems control and manage building facilities such as lighting, electricity, fire precautions, safety, security, and heating, ventilation and air-conditioning. They are installed in buildings such as commercial buildings, IT parks, hotels, restaurants, manufacturing plants, retail outlets, and residential buildings for effective facility management.
BEMS includes hardware, software, and services. Building energy software helps in the prediction of energy usage of buildings. The software uses tools for monitoring, controlling, and optimizing electrical loads. Also, it allows the user to monitor and reduce the energy consumption of electrical and electronic devices and conserve energy. It also helps in power management by tracking the real-time energy consumption of electronic devices and comparing it with historical data. End-users obtain a holistic view of their energy performance, which is compiled through a wide array of sensing and control devices, data feeds, and analytics software.
Get More Details on this Report and a Full Table of Contents at Global Building Energy Software Market 2015-2019
Technavio's analysts forecast the global building energy software market to grow at a CAGR of 16.24% over the period 2014-2019.
Commenting on the report, an analyst from Technavio's team said: "One major trend in this market is that there is an increased demand for building energy software in the retail sector. Buildings for retail outlets have their fire alarm, security, lighting, and HVAC system controls integrated together for easy operability, thereby providing utmost comfort and energy savings for their retail tenants."
According to the report, one key driver of the market is almost one-third of energy globally is consumed by residential and public buildings. Energy is used for heating, sterilization, cooling, water heating, refrigeration, and for operating all kinds of electrical appliances. This high level of consumption needs to be reduced to save costs and the environment. Building energy solutions are being used to achieve these aims.
Further, the report states that one of the major challenhes is the lack of awareness of the benefits of building energy software in developing countries hinders the growth of the market to a large extent. One of the major misperceptions among potential end-users is that control and monitoring systems have to be connected to the Internet, which increases the vulnerability of data to hackers.
The key players in the Global Building Energy Software Market are EnerNOC, Envizi, Schneider Electric and Siemens while other prominent vendors include Abb, BuildingIQ, Cisco, eSight, Hitachi, GridPoint, Honeywell, IBM, Johnson Control, Optimum Control, Pacific Control and Verisae
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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