Corporate energy management potential remains largely untapped
Study finds that, despite large potential for savings, only a small percentage of the market is taking advantage energy management systems' automation and controls.
Automation and control capabilities enabled by energy management systems (EMS) are most frequently focused on facilities heating, cooling, ventilation, and lighting, which together account forapproximately 57% of energy consumed in commercial buildings, according to theU.S. Department of Energy. However, a recent Pike Research report finds thatdespite the strong return on investment for EMSdeployments, just 14% of the market potential is being realized.
"With an increasing number of buildings 20years and older that need to become more energy efficient, the addressable market for EMS will continue to grow,"says Pike Research managing director Clint Wheelock. "The EMS penetration gap is largely driven by the fact that vendors are just now beginning to fully apply information technology to the energy management challenge."
Pike Research forecasts that annual EMS revenues inthe U.S.will reach $6.8 billion by 2020. During that period, EMS will become more tightly integrated with legacy building management systems aswell as enterprise IT and networking infrastructure.
An executive summary of the Pike Research study,"Energy Management Systems for Commercial Buildings," is available for free download by clicking here.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey