Energy management in hospitality sector near $1B by 2020, says Navigant
April 3, 2014 - According to a recent report from Navigant Research, the global market for energy management in the hospitality industry—including guest-room energy management systems (GR-EMSs) and enterprise-level energy management software—will grow from $473 million in 2013 to $968 million in 2020.
By Alyssa Dalton
“Although energy management technology has been available for almost 20 years, the hospitality sector has been slow to adopt it,” it noted. “That is beginning to change, as hotel operators look to improve financial performance at the property level despite a slow-moving economy.”
More specifically, 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, according to the report, Energy Management in the Hospitality Industry.
The report analyzes the current state of the market for hotel guest room energy management systems, including the related hardware, software, and services components. It also outlines the market and technology issues that are affecting the growth and adoption of GR-EMSs around the world.