Navigant: Advanced Building Sensor Market Worth $3.7 Billion in 2020
Revenues associated with advanced sensors for smart buildings will grow from $313.2 million in 2013 to $3.7 billion by 2020, according to a study by Navigant Research.
Over the same time period shipments of such sensors will increase from 1.8 million units in to 28.4 million units, representing a compound annual growth rate of 48.3 percent during the 7-year forecast period, according to Advanced Sensors for Smart Buildings.
Revenue growth will be somewhat slower than unit shipment growth because of a substantial drop in average selling prices, as companies realize economies of scale and face increased competition in the market, the report says.
In terms of annual unit shipments, the European and North American markets are the largest markets. The January 2003 introduction of Directive 2002/91/EC by the European Parliament, which applies minimum requirements to the energy performance of new and existing buildings, has, to some extent, given this region a head start, the report says.
Meanwhile, lighting controls adoption in North America will be boosted by the requirement that states adopt the 2010 version of ASHRAE 90.1 by October 2013. This, coupled with the introduction of the latest version of California Title 24 on January 1, 2014, will boost the market for advanced occupancy sensors, advanced photo sensors, and advanced CO2 sensors. North America is expected to be the largest market for advanced sensors by 2020, accounting for approximately 12.7 million unit shipments and more than $1.7 billion in annual revenue, the report says.
For a building to be truly considered smart, it must be able to automate the operation of its various subsystems with minimal human interference. To respond to constantly changing, characteristics and create an environment that is both more productive for its occupants and more operationally efficient for its owners, a new breed of sensors has long been required.
A slew of advanced sensors have emerged, allowing building systems to better anticipate and respond to changing conditions. New smart occupancy sensors from companies such as Melexis, ULIS, and Panasonic, can identify where people are located and how space is being used to make sure energy used to heat the building is not wasted. This not only saves money, it also maximizes employee comfort, the report says.
- Choosing the Correct Emission Control Technology
- 2015 Insider Knowledge
- Planning for a Sustainable Future
- Just the Facts: 8 Popular Misconceptions about LEDs & Controls
- Addressing Regulatory Trends with UVC LED-based Sensors
- 2016 Energy and Sustainability Predictions - Findings from Leading Professionals
- How the IoT is Reshaping Building Automation
- Increase the Value of Demand Response Through Automation
- 6 for 2016: Global Energy Market Trends
- Energy Manager Today Awards Top Products and Top Projects of the Year