European Energy Management Systems market to reach $2.01 billion in 2018
The European Heating Energy Management Systems and Building Energy Management Systems’ Market have reached revenues of $1.14 billion in 2013 and could reach $2.01 billion in 2018, fresh analysis from Frost & Sullivan was able to reveal.
The “European HEMS and BEMS Market” report points out that, as energy prices rise, end users in Europe are adopting home and building energy management systems (HEMS/BEMS) to obtain data on energy consumption. Coupled with advances in big data analytics, cloud-based solutions and Internet of things, this trend is creating strong opportunities for energy management (EM) vendors in the region.
The study covers the hardware and software products offered by the HEMS and BEMS industries and found that the main challenges HEMS and BEMS vendors face are low consumer awareness and poor uptake among small organizations.
In fact, despite regulations, many consumers remain unaware of the benefits of EMS as well as the adverse impact of poor EM on the climate. This has led to customer disengagement in both the residential and non-residential sectors. Further, HEMS and BEMS remain unaffordable for small organisations even though the cost of EMS components has come down.
“BEMS and HEMS vendors must launch initiatives to boost end-user awareness on the importance of EMS,” says Frost & Sullivan Energy & Environmental Research Analyst Anirudh Bhaskaran.. “They could also enter strategic partnerships to strengthen their presence in the European market. This would open up opportunities for distributors in the region as well.”
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