International.
Although industrial facilities are some of the most energy-intensive worldwide, the continued operation and a focus on production has typically made energy efficiency a minimum priority for their operators and managers, according to The Navigant Research.
However, many executives are paying more attention to improving data visibility and understanding the performance benefits that industrial energy management systems (IEMSs) can provide. According to a report by the research firm, global revenues from this class of systems are expected to total $224 billion between 2015 and 2024.
"As industrial customers struggle to regain financial stability in a post-recession world, IEMS solutions are expected to gain traction across geographies and customer types," said Casey Talon, principal research analyst with Navigant Research. "These systems can help support business management, increase budget security, and develop key performance indicators for energy, to set goals for improvement in costs, use or production."
The most important concern for industrial customers is production, which means that the energy efficiency and cost savings associated with IEMSs can be attractive, but only if they do not cause other disruptions. If the potential cost of disrupting critical processes is greater than the potential for improvement, according to the report, this can essentially stop or kill the application of an energy management system.
