April 11, 2014: Advanced Sensors for Smart Buildings to Reach Nearly $3.7 Billion by 2020
New Sensors Are Deploying on Smaller Platforms That Connect Wirelessly
BOULDER, Colo. — Rising energy costs and tightening government regulations are creating an increased focus on using energy efficiency to save both energy and money, notes Navigant Research. Much of that focus centers on commercial buildings, which are significant, and often inefficient, users of energy. A new class of advanced sensors has emerged, allowing building systems to better anticipate and respond to changing conditions, saving significant amounts of energy as a result. According to a report by the research firm, 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,” said 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.”