The global building energy software market is forecast to grow at a compound annual growth rate (CAGR) of over 16 per cent over the period 2014-2019, according to a report by Technavio.
Building energy software helps in the prediction of energy usage of buildings. The software uses tools for monitoring, controlling, and optimizing electrical loads. Also, it allows the user to monitor and reduce the energy consumption of electrical and electronic devices and conserve energy. It also helps in power management by tracking the real-time energy consumption of equipment and comparing it with historical data. End-users obtain a holistic view of their energy performance, which is compiled through a wide array of sensing and control devices, data feeds, and analytics software.