by Brianna Crandall — May 13, 2015—Rising healthcare costs, competitive industry pressures, and concerns over stable power supplies in the face of recent severe natural disasters have generated a new and concentrated focus on the ways in which healthcare facilities procure, use, and manage energy. These forces are driving governments and organizations to adopt new technologies to monitor and control energy use in healthcare facilities, according to a new report from Navigant Research.
The report, Energy Management for Healthcare Markets, examines the current state of the global market for healthcare energy management systems (EMSs) and technologies, including global market forecasts for revenue, segmented by offering type, building type and region, through 2024. According to the report, global healthcare facility EMS revenue is expected to grow from $948.8 million annually in 2015 to $2.2 billion in 2024.
“While energy management technologies have been employed in commercial buildings for the past two decades, they remain far from ubiquitous in the healthcare sector,” says Casey Talon, senior research analyst with Navigant Research. “The average hospital uses 2.5 times the amount of energy compared to other commercial buildings, and EMSs provide an important mechanism for reducing energy costs while ensuring the reliability of power supplies.”
The EMS sector for healthcare is highly competitive, according to the report, with a variety of mature providers as well as some notable recent market entrants. Incumbents such as Johnson Controls, Honeywell, Siemens, and Schneider Electric bring deep solutions portfolios related specifically to healthcare facility energy management.
EMS investments are also growing in markets outside the traditional large hospitals. In particular, software-as-a-service solutions, made possible by the adoption of open protocols, can help overcome the up-front capital barriers of hardware-intensive solutions, according to the report.
Navigant says the report will be useful for healthcare facilities managers and owners, energy service companies (ESCOs), government agencies, investors, manufacturers, building energy management software vendors, and others.
Energy Management for Healthcare Markets examines the current state of the global market for healthcare EMSs and technologies. It summarizes the market drivers and barriers for advanced HVAC controls, lighting controls, building energy management systems (BEMSs), and microgrid software across the policy and technology landscape in five regions.
Global market forecasts for revenue, segmented by offering type, building type (inpatient vs. outpatient), and region, extend through 2024. The report also examines the key technologies related to healthcare EMSs, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research Website, and the complete 86-page report is available for purchase from the site.
