Industrial Energy Management Systems Will Reach $22.5 Billion in Annual Revenue by 2020, Forecasts Navigant Research
BOULDER, Colo.--(BUSINESS WIRE)-- Industrial Energy Management Systems (IEMSs) are evolving quickly to help industrial facilities minimize energy use and waste while still meeting the demands of production. Technology, processing capabilities, software applications, and business intelligence insights are progressing quickly in the IEMS market, as vendors apply the latest innovations and advancements from other markets and application areas to the industrial sector. According to a new report from Navigant Research, annual revenue from IEMSs will reach $22.5 billion in 2020, essentially doubling their 2013 level.
"The IEMS market is opening to new firms, new technologies, and unique products and services," says Eric Woods, research director with Navigant Research. "This is good news for both clients and vendors as fresh ideas make IEMSs more accessible. It is, however, not easy to access the IEMS market, and partnering with more established players is a necessary component of any successful entry by a company or solution."
With their global presence, extensive domain expertise, and established infrastructure to support long-term engagements, large original equipment manufacturers have long been the leaders in this market. However, the market is changing rapidly, according to the report. Major IT companies with expertise in handling large data sets and sophisticated real-time business analytics applications are making inroads, as are smaller players.
The report, "Industrial Energy Management Systems", examines the worldwide market for industrial energy management systems, including initial services, software installation and operation, and ongoing services. Market drivers and hurdles are examined in detail, along with global supply-side and demand-side market trends. Software functionality and service-related components are also detailed, and the report provides profiles of key industry players, including newer entrants that may shape the future direction of the market. Revenue forecasts, broken down by market segment and by region, extend through 2020. 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, Smart Industry, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.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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