Intelligent building solutions that provide actionable insight into specific facilities and across portfolios are gaining traction around the world. These data-driven solutions enable the translation of granular data into useful information to direct fundamental changes in operations. Therefore, data collection devices, such as sensors and submeters, have a pivotal role to play in the intelligent buildings market. These devices capture, communicate, and—in some situations—analyze crucial energy and operational data.
Technology trends such as the Internet of Things (IoT), cloud computing, and the adoption of mobile devices are enabling energy management and optimization offerings. Such offerings are expanding the business case for investment in advanced sensors and electric submeters. Investment in these devices facilitates the development of more holistic energy management and enterprise integration strategies. Advanced sensors are crucial to improving the operation of a facility, ensuring that occupants are comfortable and delivering other wide-ranging benefits of the intelligent building. Additionally, electric submeters offer an extremely accurate and cost-effective way to gauge tenant power consumption. They add value to commercial real estate properties because a snapshot of individual energy usage within a facility appeals to everyone, from owners and operators to existing and prospective tenants.
This Navigant Research report analyzes the global market for advanced sensors and electric submeters that support the development of intelligent buildings. The study examines seven product types: electric submeters and occupancy, photo, CO, humidity, temperature, and multifunctional sensors. Global market forecasts, segmented by product and building type and region, extend through 2027. The report also examines how advanced sensors and electric submeters deliver business value through intelligent building solutions and provides recommendations to support global customer adoption of the devices.