HVAC Breaking News / Commercial Controls

June 3, 2013: Commercial, Retail Buildings to Drive Growth of Remote Monitoring

Remote Monitoring Services Gaining Increased Traction

June 3, 2013

LONDON — Commercial and retail building operators are expected to drive the growth of remote monitoring services in intelligent buildings, accounting for more than 80 percent of the $400 million market in 2016, according to a new study by IMS Research, a part of IHS Inc.

Remote monitoring in intelligent buildings is a service offered by third-party companies that audit and report on the operational performance of a building. The services have two key selling points, says IMS Research. First, auditors can make recommendations to save energy costs by determining, for example, a more efficient schedule for the building automation system. Second, the building owner can reduce internal staffing costs for the facility by using a third-party service provider.

“Remote monitoring services are gaining increased traction as building owners find significant savings to be made, in terms of both decreasing energy bills and reducing staffing costs,” said Sam Grinter, market analyst for building technologies at IHS. “The drive to reduce overhead has been reinforced over the last five years by tough economic conditions.

“Commercial and retail end users have been the fastest to take advantage of remote monitoring services in intelligent buildings,” Grinter noted, “because the slashing of operational expenses has been a higher priority for them than for government or institutional end users.”

Remote monitoring service providers have found success with commercial and retail end users by demonstrating the effectiveness of the systems in trial deployments. Then, once the return on investment is demonstrated, services are rolled out throughout the wider building portfolio. The services in intelligent buildings are looked upon as a competitive advantage, which explains why adoption has spread relatively quickly.

As the market develops further, other end-user industries such as education, government, data centers, and hospitality will increasingly take advantage of the services, says the report. The systems are expected to not only improve building efficiency but also reduce internal staffing costs for monitoring and maintaining buildings.

Publication date: 6/3/2013

Want more HVAC industry news and information? Join The NEWS on Facebook, Twitter, and LinkedIn today!

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 Energy Efficiency Forum

Highlights from the 25th annual Energy Efficiency Forum in Washington, D.C.

Podcasts

NEWSMakers: Joseph Groh

Joseph Groh, an industry veteran boasting 35 years of HVAC experience, discusses the 2008 bicycle accident that cut his career tragically short, and how the Joseph S. Groh Foundation is his way of giving back to the construction trade. Posted on Aug. 22.

More Podcasts

ACHRNEWS

NEWS 08-25-14 cover

2014 August 25

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

Prohibiting HFCs

EPA is proposing a rule that would prohibit some HFCs in select refrigeration applications. Do you agree with this move?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con