SOURCE:3BL Media, LLC
DESCRIPTION:
January 20, 2014 /3BL Media/ - Revenues for the building energy management solutions market will grow by 19 percent over the next four years. That’s according to a forecast by TechSci Research, a market research firm. That projected double-digit rise will take place mostly in North America says the report, due to a combination of progressive government policies and a larger number of “smart” buildings.
The study also forecasts that the market in other regions, while smaller, will expand faster. What’s driving this growth? A rising demand because of rapid urbanization, the construction of new buildings, increased IT spending, and the increasing adoption of energy efficiency. New developments in renewable energy technologies such as rooftop solar power plants, wind farms, and energy efficient hardware are making this market expansion possible.
The report also notes that companies providing energy management solutions are now focusing on new buildings rather than retrofitting older ones, as the installation of new energy efficiency technology is simpler and offers higher energy savings. Producing energy savings in buildings is good business that will only get better.
I’m John Howell for 3BL Media.
Video Source: Energy Management for Buildings Market to Grow by 19 Percent
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KEYWORDS: energy markets, building energy management solutions, revenue, 3bl Media, renewable energy technologies, sustainability