BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research 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.
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 in healthcare facilities. Click to tweet: According to a new report from Navigant Research, 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.
The report, 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.
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 Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global professional 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 deliver expert and advisory work through implementation and business process management services. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients’ needs in highly regulated industries, including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Energy Management for Healthcare Markets, 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.