Building Commissioning Services Will Reach $4.4 Billion in Market Value by 2020, Forecasts Pike Research
BOULDER, Colo.--(BUSINESS WIRE)-- Building commissioning services - which ensure that a commercial building's equipment and control systems are performing as designed and that there are procedures in place to maintain high performance over time - have been offered for decades. Today, a surge in growth in energy-efficient building design, along with the increased complexity of construction projects, is accelerating demand for these services, which include not only initial building commissioning, but also recommissioning, retrocommissioning, and continuous commissioning. According to a new report from Pike Research, a part of Navigant's Energy Practice, the annual market value of these services will double over the next eight years, growing from $2.2 billion worldwide in 2012 to $4.4 billion in 2020.
"Commissioning helps building owners achieve the full value of their investments in energy efficiency and green building technology," says senior research analyst Eric Bloom. "Over time, software-as-a-service models that offer continuous commissioning will become a more attractive delivery model, ensuring that green buildings maintain top performance well into the future."
Continuous commissioning, which monitors and provides fault detection and diagnosis within a portfolio of buildings, is transforming the hands-on commissioning business model into a software-based service, according to the report. The advent of IT developers and systems integrators with cloud-based continuous commissioning capabilities has added new competitors to the traditional players in the industry. By 2020, continuous commissioning will still represent only about five percent of the total worldwide market, in terms of revenue, but continuous commissioning services will grow at a significantly faster rate than other forms of commissioning.
The report, "Building Optimization and Commissioning Services", examines the worldwide market for building commission services, including initial commissioning, recommissioning, retrocommissioning, and continuous commissioning. Market drivers and barriers are explored in detail, along with global demand-side dynamics. The report analyzes future technology trends in continuous commissioning and profiles 22 key industry players. Market forecasts, segmented by region and by type of commissioning, are provided through 2020. An Executive Summary of the report is available for free download on the Pike Research website.
About Pike Research
Pike Research, which joined Navigant's global Energy Practice on July 1, 2012, provides in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Building Optimization and Commissioning Services," is a summary and reflects Pike Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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