Global Industrial Energy Management System Revenue Is Expected to Reach $35.6 Billion in 2024, According to Navigant Research
North America and Europe will lead the industrial energy
management system market in terms of revenue, report finds
A new report from Navigant
Research examines the global market for industrial energy management
systems (IEMSs), segmented by software and services, with forecasts for
revenue by region, through 2024.
The need for continuity in operations and production has made energy
efficiency a lower priority in industrial facilities compared to
commercial buildings, despite their status as some of the most
energy-intensive buildings worldwide. However, as executives begin to
understand the value of enhanced visibility and insight into enterprise
performance and site-level strategic energy management, the business
case for IEMSs is growing. Click
to tweet: According to a new report from Navigant Research, global
IEMS revenue is expected to grow from $13.5 billion in 2015 to $35.6
billion in 2024.
“Industrial customers are struggling to recover from the economic crisis
and, in many cases, are targeting higher production with fewer
resources,” says Casey Talon, senior research analyst with Navigant
Research. “IEMSs can offer tools for managing costs, hedging risks
associated with price volatility and policy impacts, and achieving
corporate social responsibility and sustainability commitments.”
Because of increasing customer demand for IEMS software and services,
Navigant Research projects this market will grow aggressively during the
next decade, according to the report. The North American and European
markets are expected to continue to lead the market in terms of revenue,
while Asia Pacific is expected to experience the fastest growth.
The report, Industrial
Energy Management Systems, analyzes the global market for IEMSs
in two segments: software and services. The study provides an analysis
of the market issues, including business cases, opportunities, and
implementation challenges, associated with IEMSs. Global market
forecasts for revenue, broken out by segment and region, extend through
2024. The report also examines the key aspects of IEMS solutions,
specifically software functionality and service offerings, as well as
the competitive landscape. An Executive Summary of the report is
available for free download on the Navigant
Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings
sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is an independent specialized, global
professional services firm that combines deep industry knowledge with
technical expertise to enable companies to defend, protect and create
value. With a focus on industries and clients facing transformational
change and significant regulatory and legal issues, the Firm serves
clients primarily in the healthcare, energy and financial services
sectors which represent highly complex market and regulatory
environments. Professional service offerings include strategic,
financial, operational, technology, risk management, compliance,
investigative solutions, dispute resolutions services and business
process management services. The Firm provides services to companies,
legal counsel and governmental agencies. The business is organized in
four reporting segments – Disputes, Investigations & Economics;
Financial, Risk & Compliance; Healthcare; and Energy. More information
about Navigant can be found at navigant.com.
* The information contained in this press release concerning the
report, Industrial Energy Management Systems, is a summary and
reflects Navigant Research’s current expectations based on market data
and trend analysis. Market predictions and expectations are inherently
uncertain and actual results may differ materially from those contained
in this press release or the report. Please refer to the full report for
a complete understanding of the assumptions underlying the report’s
conclusions and the methodologies used to create the report. Neither
Navigant Research nor Navigant undertakes any obligation to update any
of the information contained in this press release or the report.
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