Post by shakhar23 on Feb 27, 2024 6:32:07 GMT
Global spending on industrial energy management systems and services, including software components, will grow from $11.3 billion in 2013 to $22.4 billion in 2020, according to Navigant Research.
According to the report entitled Industrial Energy Management Systems, the compound annual growth rate is 10.3 percent. The North American market is the world's largest region by IEMS revenue, but only slightly ahead of Europe.
Major OEMs such as Schneider Electric, Siemens, Invensys and Rockwell Automation have long been leaders in this market thanks to their global presence, extensive domain expertise and extensive infrastructure to support long-term commitments. According to the report, the situation is changing rapidly. Large IT companies such as SAP and IBM, with expertise in handling large data sets and complex real-time business intelligence applications, are gaining popularity, the report said.
Other smaller niche companies are also participating in the Saudi Arabia Mobile Number List energy management systems market by offering unique products and services, but these companies typically require partnerships with larger, more established vendors to enter the market, the report said.
Although technology is advancing at a rapid pace, end customers may not adapt as quickly. Many of the potential buyers of energy management systems are at the stage where they understand the benefits of implementing these systems, but prefer to use more basic technologies and applications. This is due to limited resources, as well as the early stage of progress in understanding energy consumption and energy efficiency that these companies are at, Navigant says.
Those implementing more sophisticated energy management systems are finding that the line between manufacturing and the corporate environment is blurring. The report states that energy is now considered just another source of data that can be combined with a variety of other business intelligence data to provide a more holistic and complete picture of overall business performance.
A report published last September by Pike Research estimates that the market for smart building energy management systems will nearly quadruple in size and be worth more than $1 billion by 2020. Global spending on these services - which include data collection and analysis, as well as building maintenance contracts - will rise from $291 million in 2012 to $1.1 billion by 2020, according to the report entitled Smart Building Management Services.
According to the report entitled Industrial Energy Management Systems, the compound annual growth rate is 10.3 percent. The North American market is the world's largest region by IEMS revenue, but only slightly ahead of Europe.
Major OEMs such as Schneider Electric, Siemens, Invensys and Rockwell Automation have long been leaders in this market thanks to their global presence, extensive domain expertise and extensive infrastructure to support long-term commitments. According to the report, the situation is changing rapidly. Large IT companies such as SAP and IBM, with expertise in handling large data sets and complex real-time business intelligence applications, are gaining popularity, the report said.
Other smaller niche companies are also participating in the Saudi Arabia Mobile Number List energy management systems market by offering unique products and services, but these companies typically require partnerships with larger, more established vendors to enter the market, the report said.
Although technology is advancing at a rapid pace, end customers may not adapt as quickly. Many of the potential buyers of energy management systems are at the stage where they understand the benefits of implementing these systems, but prefer to use more basic technologies and applications. This is due to limited resources, as well as the early stage of progress in understanding energy consumption and energy efficiency that these companies are at, Navigant says.
Those implementing more sophisticated energy management systems are finding that the line between manufacturing and the corporate environment is blurring. The report states that energy is now considered just another source of data that can be combined with a variety of other business intelligence data to provide a more holistic and complete picture of overall business performance.
A report published last September by Pike Research estimates that the market for smart building energy management systems will nearly quadruple in size and be worth more than $1 billion by 2020. Global spending on these services - which include data collection and analysis, as well as building maintenance contracts - will rise from $291 million in 2012 to $1.1 billion by 2020, according to the report entitled Smart Building Management Services.