Industrial Energy Management Software and Services Market to Reach $5.6 Billion by 2020

October 31, 2011

Industrial and manufacturing companies in the United States are quickly coming to the realization that energy and sustainability issues are a critical requirement for the competitiveness and even survival of their businesses.  Using close to one-third of all the energy consumed in the United States on an annual basis, with high price volatility and stiff global competition for market share, U.S. industries are better understanding their energy consumption patterns and are adopting organizational capabilities to better manage its use.  Energy management software and service offerings, along with new energy management standards and certification programs, have created a renewed focus on energy as a manageable input to the industrial process.

According to a new report from Pike Research, under these market conditions the U.S. market for industrial energy management software and services will rise from $960 million in 2011 to $5.6 billion by 2020, a compound annual growth rate (CAGR) of 21.6%.  The cleantech market intelligence firm anticipates that the services segment will represent the lion’s share – more than 85% — of the total market during the forecast period.

“Energy management has become not only a company-specific issue, but a national imperative as well,” says Pike Research president Clint Wheelock.  “There is a definite shift taking place in the way industrial companies view energy procurement and use internally, and how its management and use is perceived externally by the company’s customers and supply chain.”

Wheelock adds that although it has been in existence for decades, the industrial energy management software and services market is evolving rapidly with technological advances and a growing knowledge base resulting from the increased availability of detailed information about industrial energy use.  Pike Research’s analysis indicates that there are multiple market influences that will drive growth and demand for energy management software and services.  The strongest drivers include the desire for industrial companies to understand and limit the variability and cost of their energy inputs, and to satisfy increasing sustainability demands from their supply chain partners, consumers, and other stakeholders.

Pike Research’s report, “Energy Management Systems for Industrial Markets”, examines energy management software and services market trends, industrial capital expenditures, risk appetite characteristics for implementing energy management initiatives, and market forecasts and growth prospects in the United States for the period from 2011 through 2020.  In addition, Pike Research assesses the competitive landscape, provides key statistics on energy management adoption rates, and identifies industrial market segments where growth is projected to be the highest.  An Executive Summary of the report is available for free download on the firm’s website.

Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets.  The company’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 Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors.  For more information, visit www.navigantresearch.com or call +1.303.997.7609.

Register to Receive Updates

Sign up or login to receive free newsletters, research updates, access to webinars, and other analyst content from Navigant Research.

Research News

Rss
Plug-In Electric Vehicles Are Expected to Make Up 2.4 Percent of Global Light-Duty Vehicle Sales by 2023
October 23, 2014New entries from luxury automakers are expected to expand the market dramatically, report finds • A new report from Navigant Research provides a comprehensive overview of the overall light…
Read More »
Urbanization is Expected to Drive Rapid Growth in the Global Building Stock Over the Next 9 Years
October 22, 2014Building stock growth is projected to drive increased energy use in developing countries, report concludes • A recent report from Navigant Research provides data on the size and projected growth…
Read More »
Investment in Dynamic Volt/VAR Control Architectures Is Expected to Total Nearly $17.7 Billion From 2014 to 2023
October 20, 2014DVCAs are essential to handling increasingly variable loads from more intermittent sources, report finds • A recent report from Navigant Research analyzes the global market for dynamic volt/volt-ampere reactive…
Read More »
Smart Cities are Driving Change Across the Energy Sector
October 16, 2014Support for renewable generation by cities is increasing the pressure on utilities to modernize their infrastructure, white paper finds • A new white paper from Navigant Research examines the critical issues facing cities and…
Read More »
View All News

{"userID":"","pageName":"Industrial Energy Management Software and Services Market to Reach $5.6 Billion by 2020","path":"\/newsroom\/industrial-energy-management-software-and-services-market-to-reach-5-6-billion-by-2020","date":"10\/25\/2014"}