- The key vendors in the global building energy software market 2015-2019 are EnerNOC Inc., Envizi, Schneider Electric SE, and Siemens AG
London, 4 August 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global building energy software market 2015-2019. The development of industry-specific building energy software is a critical trend observed in this market. Building energy software helps to monitor the safety and security controls of industry-specific applications. The incorporation of additional features and operational capabilities into this software is expected to assist the operations of end-users and also aids in improving the overall performance of the facilities. This market is expected to grow at a CAGR of 15.01% during the forecast period of 2014-2019.
Advantages like cost savings, improved business efficiency, and increasing energy prices promote the implementation of this software in buildings and facilities. The electrical equipment present in buildings account for a major share of the total electrical consumption. These systems release CO2, which results in global warming and causes undesirable changes to the environment. Consequently, this growing need for conserving energy and improving the overall efficiency of processes is expected to positively impact the market.
“The development and rollout of centralized remote control systems is one of the trends expected to drive the market during the forecast period. The main benefit of such a building energy software system is the convenience and comfort it can provide to the user. Vendors have developed a form of centralized building energy software to monitor and control all of a building’s systems,” says Faisal Ghaus, Vice President of Technavio Research.
“Vendors have also started developing a wireless hub to transmit and receive signals between the remote control system and other systems. Transmission between the controller and other devices happens seamlessly thus forming a network of devices enabling the controller to control all the devices.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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