Spending on energy management from the United States’ largest firms will rise more than three billion dollars over the next three years, analysts have predicted.

New research by Verdantix suggests firms which earn more than $1 billion in revenue spent $13.1 billion on energy management in 2012.

It predicts this figure will reach $16.5 billion in 2017 across energy management in offices, IT and telecoms, retailers and chains, the industrial sector and on-site renewable energy.

The study covered the spending of 2,856 firms with revenues of more than $1 billion in the United States or US-headquartered firms which make over $1 billion globally.

Industrial and office energy management will each count for roughly a third of spending on energy management in 2013, with banks, retailers, tech firms, oil and gas firms and utilities likely to be the biggest investors in energy management.