Utility Customers Will Spend $1.4 Billion on Building Energy Management Systems from 2013 to 2020, F
Utility Customers Will Spend $1.4 Billion on Building Energy Management Systems from 2013 to 2020, Forecasts Navigant Research
BOULDER, Colo.--(BUSINESS WIRE)-- Utilities and vendors of building energy management systems increasingly find themselves with matching imperatives and interlocking interests, and they are looking to each other to solve some of their most pressing issues. The energy management offerings of the BEMS vendors provide new tools that can be used in energy efficiency (EE) and demand-side management (DSM) programs offered by utilities, while the large customer bases of the utilities offer BEMS vendors access to a host of new clients and client types. According to a recent report from Navigant Research, spending on BEMS by utility customers will total more than $1.4 billion from 2013 to 2020.
"Utilities realize that BEMS can help boost the effectiveness of their EE and DSM programs, which help utilities manage new investments in grid infrastructure and comply with growing regulations imposed upon them by regulators," says senior research analyst Eric Bloom. "BEMS vendors are in the business of energy efficiency, and many utilities whose revenues are decoupled from energy sales stand to benefit financially from reducing their customers' energy consumption, so their interests are well aligned."
The challenges for these programs, however, are not insignificant, according to the report. BEMS vendors attempting to access the utility market face longer sales cycles in dealing with utilities as a client, as well as the task of understanding each utility's business strategies and regulatory environments. Utilities face similar challenges in working with BEMS vendors. They are looking to BEMS vendors to provide solutions that help them access more of their client base in innovative ways with lower costs and less effort. Several vendors have risen to this challenge by offering "low-touch" or "no-touch" solutions that can access large portions of a utility's client base cheaply and effectively.
The report, "Building Energy Management Systems for Utility Customers", examines the growing BEMS market for utility customers, with a focus on the inroads that utilities and commercial building energy management vendors are making as they partner with each other on innovative new programs, products, and services. The report details the drivers and hurdles on the demand and the supply side, as well as key market dynamics that have influenced this pairing. Characteristics of the key customer segments of large commercial clients as well as small to medium-sized businesses are presented, with discussion of future trends and market evolution in the all global regions. Key industry players are profiled in depth and market forecasts for spending, broken down by region and by market segment, extend through 2020. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about 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 Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
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 Energy Management Systems for Utility Customers," is a summary and reflects Navigant 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 Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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