March 19, 2014
Wireless technology connects sensors that use less power, report finds
Rising energy costs and tightening government regulations are creating an increased focus on using energy efficiency to save both money and energy. Much of that focus centers on commercial buildings, which are significant, and often inefficient, users of energy. Fortunately, a new class of advanced building sensors has emerged, allowing building systems to better anticipate and respond to changing conditions, saving significant amounts of energy as a result. Click to tweet: According to a recent report from Navigant Research, worldwide revenue from advanced sensors for smart buildings will reach $3.65 billion by 2020.
“New sensors are deploying on smaller and smaller platforms that connect wirelessly, using less power,” says Noah Goldstein, research director with Navigant Research. “These technologies will make installation easier and cheaper, and help to usher in a new era of fault detection and diagnostics that will enable real-time building improvements and performance optimization.”
Global shipments of advanced sensors are forecast to grow at a compound annual growth rate of 48.3 percent from 2013 to 2020, the report concludes. Revenue growth will be somewhat slower than unit shipment growth due to a substantial drop in average selling prices, as companies realize economies of scale and face increased competition in the market.
The report, “Advanced Sensors for Smart Buildings”, analyzes the global market opportunity for advanced occupancy sensors, advanced CO2 sensors, advanced thermostats, and advanced photosensors. The report provides a comprehensive assessment of the demand drivers, business models, and policy and regulatory factors associated with the market for these products. Global revenue and unit shipment forecasts, segmented by four product types, five major geographic regions, and eight building types, extend through 2020. The report also examines various technologies related to advanced sensors for smart buildings and profiles key industry players in depth. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Richard Martin
* The information contained in this press release concerning the report, “Advanced Sensors for Smart Buildings,” 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 report.