Production remains the primary concern for industrial facility customers
A recent 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.
Though industrial facilities are some of the most energy-intensive buildings worldwide, the drive for continuous operations and a focus on production has made energy efficiency a low priority for their operators and managers. However, many executives are now paying closer attention to the enhanced data visibility and performance benefits that IEMSs can provide. Click to tweet: According to a recent report from @NavigantRSRCH, global revenue from IEMSs is expected to total $224 billion from 2015 to 2024.
“As industrial customers struggle to regain financial stability in a post-recession world, IEMS solutions are expected to gain traction across geographies and customer types,” says Casey Talon, principal research analyst with Navigant Research. “These systems can help support corporate governance, increase budget certainty, and develop key performance indicators for energy to set targets for improvements in costs, use, or production.”
The foremost concern for industrial customers is production, which means energy efficiency and cost savings associated with IEMSs can be attractive, but only if they do not cause other disruptions. If the potential cost of disrupting critical processes outweighs the potential for improvement, according to the report, this can essentially stall or kill the implementation of an IEMS.
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.
Contact: Lindsay Lorenz
* 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.