|By Business Wire||
|April 17, 2014 05:15 AM EDT||
Offering automated, granular, real-time control of every major system within commercial buildings, networked building controls can provide building owners and operators with significant cost savings through the more efficient use of energy. As large commercial buildings are increasingly targeted by national and local energy efficiency policies, building owners are looking for solutions that can reduce energy consumption and improve operational efficiency. Click to tweet: According to a recent report from Navigant Research, worldwide revenue from networking and communications equipment for commercial building automation systems will grow from $21.3 billion in 2014 to $34.7 billion by 2021.
“Commercial buildings consume nearly one-quarter of all electricity globally, making the automation systems that improve, measure, and verify building efficiency a critical part of energy management,” says Eric Woods, research director with Navigant Research. “The increased availability of simple-to-use, web-based dashboards for building management, along with the introduction of Internet Protocol (IP)-enabled devices, is helping to smooth the way for building managers to move toward more networked control systems.”
China, which is the largest and fastest growing market in the world, is a key growth market for building controls, according to the report. The country is focused on maintaining its current building stock while constructing the equivalent of two Chicago-sized cities per year through 2025. The rest of the world is more focused on bringing its existing stock of buildings up to par, in terms of energy efficiency, as well as integrating advanced IT-level control functions for easier and more efficient data analysis and system management.
The report, “Smart Buildings Networking and Communications”, analyzes the global market opportunity for networked building automation controls across three primary levels of the building controls ecosystem: field devices, floor/room-level devices, and building-level devices. Each of these categories contains devices used in four primary building systems: HVAC, lighting, fire and life safety, and security and access. Global market forecasts for unit shipments and revenue, broken out by region, segment, device type, and technology, extend through 2021. The report also provides a comprehensive assessment of the demand drivers, business models, policy factors, technology issues, and key industry players associated with this rapidly evolving market. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Smart Buildings Networking and Communications,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.