by Shane Henson — August 19, 2013—The market for industrial energy management systems (IEMSs) will reach $22.5 billion in annual revenue by 2020 as more industrial companies and large energy users turn to these types of systems to actively manage their energy consumption and energy procurement activities, according to a recent report from Navigant Research, a market research and consulting team that provides in-depth analysis of global clean technology markets.
As Navigant Research explains, IEMSs comprise software, upfront services, and ongoing monitoring and management, and enable industrial companies to advance their initiatives with regard to cost reduction and improved efficiency.
“Energy usage is now considered an important data source that can be combined with other business intelligence to provide a more holistic and complete picture of overall business performance,” says Eric Woods, research director with Navigant Research. “An IEMS enables companies to bring information and knowledge of all aspects of energy-related matters into the present, where cost-effective tactics can be employed before high charges or inefficient usage occurs.”
The depth of the capabilities of IEMS solutions can vary widely, the study concludes. Some IEMSs are passive and perform only a monitoring and analysis function. Other systems are designed to be active, with the ability to control portions of the industrial processes that they monitor. Although an IEMS rarely controls all or even major portions of an industrial process, it can provide significant input into the control processes themselves.
The report, Industrial Energy Management Systems, examines the worldwide market for IEMSs, 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.
