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 | Apr 3, 2018
Tech Report 5.0: AI Arrives
From construction scheduling to risk management, AEC firms see promise in budding artificial intelligence platforms geared for commercial building projects.
Building Technology | Mar 1, 2018
Small construction businesses will continue to lag other sectors in tech spending this year
A survey of 800 companies found tepid interest overall in investing in “big data.”
Hotel Facilities | Feb 13, 2018
6 trends shaping smart hotels
From real-time guest feedback to AI-driven hyper-personalization, the hotel of the future will emphasize service, convenience, authenticity, and just the right amount of technology.
Great Solutions | Feb 8, 2018
Stackable steel modules speed building core construction
With this patented, steel-and-concrete hybrid system, the service core will no longer be the schedule bottleneck on new construction projects.
Events Facilities | Jan 18, 2018
Gamers paradise: The rise of eSports arenas
More than 380 million fans take in professional video gaming events each year, but most do so without leaving home. Dedicated eSports arenas could change all that.
Building Technology | Jul 28, 2017
Stanford develops a robot that grows like a vine and carries with it inestimable applications
For construction, the robot could be used for wiring the ceilings or floors of a building.
Building Technology | Jul 7, 2017
An elevator that moves sideways? Germany is about to take that ride
Thyssenkrupp’s cable-less MULTI system promises higher transport capacity and lower peak power demand.
Building Technology | Jul 6, 2017
Construction sites will be human-free by 2050, according to Balfour Beatty
The new paper also makes 10 predictions for the industry in 2050.
| Jun 13, 2017
Accelerate Live! talk: Work in progress—How the office environment drives innovation, SageGlass (sponsored)
SageGlass CEO Dr. Alan McLenaghan reviews how biophilic design and new technologies, such as dynamic glass, create a greater connection between the built and natural environments in the office.
Hotel Facilities | May 18, 2017
Manchester modular hotel is constructed of shipping containers
The 220-room Holiday Inn Express hopes to be completed in less than 12 months.
