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.
- What You Need to Know About Demand Charges
- Evaluation Guide: Four Steps to a Successful Lighting Evaluation
- NAEM Trends Report: Planning for a Sustainable Future
- 2014 Environmental Leader Product and Project Awards
- How to Automate the Collection & Delivery of Utility Billing Data
- How "Fixed" is the Fixed Price Product?
- Alarms Management: The Future is Now
- 24 Hour Fitness Trims Waste Costs Through an Effective Waste Recycling Program
- Meeting the GHG Challenge: Reporting Solutions
- Smarter Asset Management for the Nuclear Power Imperative
- Energy Procurement in 2014: Products & Programs to Optimize Savings
- BUYING STRATEGIES IN A VOLATILE MARKET: What Businesses Need to Know about Retail Electricity Procurement
- Smart Building Technology: The Key to Comprehensive Building Performance
- What Energy Managers Need to know about Procuring Natural Gas: Guidance for 2014 Natural Gas Contracts
- Energy Optimization from the Boiler Room to the Board Room