Over the next decade, revenue from wireless sensor sales worldwide for installation and use in commercial structures is expected to increase at a compound annual rate of 16.5%, a projection that reflects the expanding demand for products that provide intelligent building solutions via the Internet of Things.
A new report from the market research firm Navigant, entitled “Wireless Sensors for Commercial Buildings,” estimates that global sensor sales will reach $188.2 million this year, and increase to $745.2 million by 2025.
“Sensors capture, communicate, and may even analyze energy and operational data,” the report states. “The resulting useful information will direct fundamental changes in operations that lead to energy efficiency improvements with substantial cost savings.”
Asia-Pacific and European markets are expected to experience the highest demand growth, whereas demand in North America will increase more modestly.
Despite the fact that last year’s Internet of Things World Forum was held in Dubai, the Middle East in general, along with Africa and Latin America, are not seen by Navigant as markets where there will be a high penetration of wireless sensors in the foreseeable future.
Related Stories
Building Technology | Feb 21, 2019
Smart buildings take hold: 8 ways smart tech is transforming commercial buildings
The next generation of intelligent buildings offers promise for unseen levels of energy efficiency, optimization, and occupant health and productivity.
Building Technology | Dec 20, 2018
Autodesk is spending $1.15 billion to acquire two construction tech providers
PlanGrid and BuildingConnected are the latest pieces in the company’s quest to digitize the construction industry.
Building Technology | Dec 18, 2018
Data and analytics are becoming essential for EC firms competing to rebuild America’s infrastructure
A new paper from Deloitte Consulting advises companies to revise their strategies with an eye toward leveraging advanced technologies.
3D Printing | Dec 7, 2018
Additive manufacturing heads to the jobsite
Prototype mobile 3D printing shop aims to identify additive manufacturing applications for construction jobsites.
Energy Efficiency | Dec 5, 2018
Harvard debuts HouseZero as a possible response to making existing buildings more efficient
Hundreds of embedded sensors will inform energy use reduction research.
Building Technology | Oct 15, 2018
Construction continues to be vulnerable to cyberattacks
The latest report from eSentire finds a total of 4 million “hostile events” against all sectors during the spring months.
Building Technology | Sep 20, 2018
A new report tracks industry preferences for building documentation tools
More firms are adding scanning and photography to their services.
Building Technology | Sep 17, 2018
A future-ready office building for techie workers will soon spring up in New York City
Groundbreaking for the 20-story 14th@Irving is scheduled for early next year.
Building Technology | Sep 13, 2018
McKinsey report assesses where opportunities could lie in construction technology
McKinsey & Co. sees systems integration and talent acquisition as key investment drivers.
