Energy Management for Health Care Market Forecast to Reach $2.2 Billion by 2024
Increasing demand for resiliency expected to drive the market for energy management in hospitals
BOULDER, Colo. — Due to an increase in global policies promoting energy efficiency and skyrocketing health care costs, governments and organizations are examining the adoption of new technologies to monitor and control the energy use of health care spaces, notes Navigant Research. This demand for greater control is being realized through the use of energy management systems (EMSs), as well as through software as a service (SaaS) applications that help optimize existing facility equipment while avoiding high upfront costs. According to a report from Navigant, energy management revenue for the health care market is expected to reach $2.2 billion by 2024.
“The average hospital uses 2.5 times the energy as other commercial buildings,” said Casey Talon, senior research analyst with Navigant Research. “And while 24/7 operation for some health care spaces is critical, EMSs have shown success in scaling back non-critical operations and generating savings.”
Following disasters such as Hurricane Katrina and Hurricane Sandy, resilience concerns have become a growing factor in introducing EMS technology to health care facilities, according to the report. Above all else, hospitals are concerned with saving lives, and having a reliable, resilient power supply to allow for continued operations in the event of a utility outage is expected to become increasingly crucial over the next decade.
An executive summary of the report is available here.
Publication date: 8/12/2015