Wireless Control Systems for Smart Buildings Will Reach Nearly $295 Million in Annual Revenue by 202
Wireless Control Systems for Smart Buildings Will Reach Nearly $295 Million in Annual Revenue by 2020, Forecasts Navigant Research
BOULDER, Colo.--(BUSINESS WIRE)-- Wireless networks are helping fuel a major shift in the commercial buildings controls market. Wireless controls are increasingly being used to link devices across a variety of building systems, including lighting, HVAC, fire and safety, and security and access. According to a recent report from Navigant Research, worldwide revenue from wireless control systems for building automation will reach $294.8 million by 2020.
"While wireless controls are generally more expensive than their wired counterparts, they offer building owners and managers a number of economic benefits," says Bob Gohn, senior research director with Navigant Research. "The labor costs for installing wireless systems are much lower compared with wired, and wireless systems often provide networked control in buildings or areas where wired controls are simply too challenging or expensive to install."
The adoption of standards-based technologies, such as ZigBee and EnOcean, is increasing, but most wireless devices and control networks continue to use proprietary, vendor-specific wireless radio frequency technology, which ensures device interoperability and ease of installation and operation. Some vendors have adopted a hybrid approach, according to the report, using standards-based technology for the physical layer, media access control, and networking layers of a wireless network while developing their own proprietary applications for managing and controlling data.
The report, "Wireless Control Systems for Smart Buildings", examines the state of the global wireless commercial building controls market and provides forecasts through 2020. Including market analysis and forecasts for HVAC, lighting, fire & safety, and security & access controls, the report covers the development of both propriety and standards-based wireless technologies and details the market drivers and barriers for each. The forecasts are segmented by region and by technology, and the report includes profiles of more than 20 key industry players, including building controls manufacturers and integrators. 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, Smart Industry, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant (NYS: NCI) 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, "Wireless Control Systems for Smart Buildings," 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.
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