Memoori has published new research on the emerging market for software to interface Building Energy Management Systems (BEMS) with the Smart Grid; bringing together market sizing data, investment data and all the factors that influence the industries future.
Memoori predicts that revenue from the global market for software interfaces between Smart Grid and Smart Buildings will Reach $1.7Bn by 2017. Memoori also expects that by 2022 most advanced BEMS systems will provide Automated Demand Response (ADR) using OpenADR and this functionality will most likely be provided by the Enterprise Energy Management (EEM) package in Smart Buildings. Therefore Memoori expects demand for separate software packages to decline after 2022.
This is a relatively new market and the business opportunity will depend on how and where the Smart Grid business develops, the regulatory framework and also the part that Smart Buildings can play in reducing energy demand and delivering distributed energy resources.
There is no doubt that the integration of these two separate businesses can play a vital role in maximizing energy conservation in buildings whilst generating income and reducing operating costs.