Industrial Energy Management Systems

Industrial Energy Management Systems

Industrial Energy Management Systems

Report
Format: PDF-Excel
Published year: 2015
Publisher: Navigant Research
Language: English
Pages: 81

Summary

Industrial facilities are some of the most energy-intensive buildings worldwide. The paramount need for continuity in operations and a focus on production has made energy efficiency a lower priority in these facilities than in commercial buildings. Nonetheless, there is a growing opportunity to engage key decision makers in the process systems within industrial facilities. Industrial energy management systems (IEMSs) are gaining traction as executives begin to understand the value of enhanced visibility and insight into enterprise performance and site-level strategic energy management. An IEMS is defined by software and services that support holistic energy management within an industrial facility or across an enterprise to achieve efficiency, cost savings, sustainability, and climate change targets while maintaining the optimal operational parameters for the production processes. Facilities with complex systems and technical in-house experts that manage process systems have characterized the industrial market. The opportunity for IEMSs has emerged as industry has been squeezed financially while it recovers in the post-recession era and operates with fewer resources. Today, IEMS adoption is increasing worldwide because of current industrial market dynamics, including customer demands for solutions that help them hedge risks and take advantage of opportunities. According to Navigant Research, global IEMS revenue is expected to grow from $13.5 billion in 2015 to $35.6 billion in 2024. This Navigant Research report 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.
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