Billion Dollar Baby: Navigant Research Identifies GridPoint as Key Player in Billion Dollar Small- and Medium-Sized Building Market
Navigant Research recently released a report projecting revenues for building energy management systems (BEMSs) for small and medium-sized buildings to increase globally from $227 million annually in 2014 to $1.3 billion in 2022. The research confirms GridPoint’s decision to transition from the smart grid to focus entirely on energy management systems (EMS) to provide innovative solutions for businesses wanting to transform into energy conscious enterprises.
In the press release, Noah Goldstein, research director with Navigant Research, said, “Innovative BEMS solutions are being tested in the market, while increased digital control infrastructure is being installed in both new buildings and retrofits to comply with more stringent building codes. At the same time, executives are pushing for more enterprise energy management to manage costs.” Goldstein’s statement supports the five megatrends GridPoint outlined in the June issue of Buying & Using Utilities (pp. 8-9).
Similar to Navigant’s market drivers, GridPoint identified that rising and volatile energy prices, increasing government regulation and standards, continued focus on carbon reduction and energy efficiency as well as the need to manage operational costs including energy expenses are driving businesses to evaluate and implement EMS solutions. At the same time, Internet of Things technologies are becoming more prevalent and accessible, making things like big data analytics and cloud computing more affordable and easier to implement for effective energy and facility management.
The new research sheds light on the need for the right balance of hardware, software and services, depending on the building size, when implementing energy management systems. GridPoint’s recognized strength is our ability to integrate submetering and monitoring, big data analytics and control into the energy management process for superior results. Our new GridPoint Open Connect Platform allows us to integrate into existing environments and leverage previous investments to make energy management even more powerful for our customers which is why six of the top 10 retailers by total sales, four of the top 10 casual dining restaurants and seven of the top 20 quick serve restaurants have our products installed across their portfolio.
The report, “Energy Management for Small and Medium Buildings,” identifies GridPoint as a key BEMS player in the small and medium commercial building market, with a special call out to our energy controller. We are excited to be in a position to offer innovative solutions for enterprises looking to improve equipment performance, enhance corporate image through sustainability measures, meet regulations and standards, reduce carbon emissions and save money.