Sept. 10, 2013: Big Data Seen Dominating Building Performance Market
New Entrants Are Emerging to Meet Growing Demand for Real-Time Monitoring
BOSTON — With buildings under pressure to lower energy consumption, both to comply with legislation and to respond to market demand, the measurement and verification industry is rapidly moving toward real-time performance tracking, according to Lux Research. New entrants, both in sub-metering hardware and big data analytics, will help audit the 760 billion square feet of available building space, says the research firm.
“Today, sub-metering devices are now available to measure all types of building utilities, such as electricity, water, fuels, and heating or cooling input, with very high precision — but with a high cost to match,” said Alex Herceg, Lux Research analyst and lead author of the report titled, Proof in Performance – Improving BEMS (Building Energy Management Systems) through Measurement and Verification. “Still, as real-estate managers slowly adopt a data-driven approach, the demand for the devices that can deliver actionable insights will grow.”