|[June 19, 2014]
Networked Energy Management Systems for the Hospitality Industry Will Reach Nearly $848 Million in Annual Revenue by 2020, Forecasts Navigant Research
BOULDER, Colo. --(Business Wire)--
Hotel operators are under pressure to deliver improved financial
performance at the property level in spite of a stagnant economy. In
response, they are turning to building energy management systems that
operate on a property-wide, rather than room-by-room, scale in order to
increase energy savings and maximize guest comfort. Click
to tweet: According to a recent report from Navigant
Research, worldwide revenue from networked energy management systems
for the hospitality industry will grow from $287.9 million annually in
2014 to $847.8 million in 2020.
"Guest room energy management is going through a dynamic period of
transition from autonomous, room-centric HVAC control to property- and
portfolio-wide integrated energy monitoring, control, and management,"
says Eric Bloom, principal research analyst with Navigant Research. "By
2020 these networked systems will represent 88 percent of total energy
management system revenue in the lodging and hotel sector."
The similarity in core functionality among products and the number of
vendors now in the industry are exposing solutions providers to
increasingly intense competition throughout the sales cycle, according
to the report. These forces are driving a broad shift in the sector as
the focus of innovation and differentiation moves from hardware to
software and services.
The report, "Energy
Management in the Hospitality Industry", analyzes the current state
of the market for hotel guest room energy management systems, including
the related hardware, software, and services components. It outlines the
market and technology issues that are affecting the growth and adoption
of guest room energy management systems (GR-EMSs) around the world.
Global market forecasts for the GR-EMS market, with separate breakdowns
by product and hotel segment, system type, and region, extend through
2020. The report also examines the competitive landscape, as well as the
best practices and market trends that will shape energy management in
the lodging industry for the rest of the decade. An Executive Summary of
the report is available for free download on the Navigant
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
Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings
sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global expert 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 combine technical
expertise in Disputes and Investigations, Economics, Financial Advisory
and Management Consulting, with business pragmatism in the highly
regulated Construction, Energy, Financial Services and Healthcare
industries to support clients in addressing their most critical business
needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the
report, "Energy Management in the Hospitality Industry," 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
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