Commercial, retail buildings to be the fastest adopters of remote monitoring services
Commercial and retail end-users will drive the growth of remote monitoring services in intelligent buildings, accounting for more than 80% of the $400 million market in 2016.
Commercial and retail end-users will drive the growth of remote monitoring services in intelligent buildings, accounting for more than 80% of the $400 million market in 2016, according to a new study by IMS Research, now part of IHS Inc.
Remote monitoring in intelligent buildings is a service offered by third-party companies that audit and report on the operational performance of a building. The services have two key selling points. First, auditors can make recommendations to save energy costs by determining, for instance, a more efficient schedule for the building automation system. Second, the building owner can reduce internal staffing costs for the facility by using a third-party service provider.
The figure below presents the forecast growth for remote monitoring services used in commercial and retail buildings from 2012 to 2016, with a snapshot of what the market will look like by 2021.
“Remote monitoring services are gaining increased traction as building owners find significant savings to be made, in terms of both decreasing energy bills and reducing staffing costs,” said Sam Grinter, market analyst for building technologies at IHS. “The drive to reduce overheads has been reinforced over the last five years by tough economic conditions.”
“Commercial and retail end users have been the fastest to take advantage of remote monitoring services in intelligent buildings,” Grinter noted. “Because the slashing of operational expenses has been a higher priority for them than for government or institutional end users.”
Remote monitoring service providers have found success with commercial and retail end users by demonstrating the effectiveness of the systems in trial deployments. Then, once the return on investment is demonstrated, services are rolled out throughout the wider building portfolio. The services in intelligent buildings are looked upon as a competitive advantage, which explains why adoption has spread relatively quickly.
As the market develops further, other end-user industries such as education, government, data centers, and hospitality will increasingly take advantage of the services, IHS believes. The systems are expected to not only improve building efficiency but also reduce internal staffing costs for monitoring and maintaining buildings.
|Search the online Automation Integrator Guide|
Case Study Database
Get more exposure for your case study by uploading it to the Control Engineering case study database, where end-users can identify relevant solutions and explore what the experts are doing to effectively implement a variety of technology and productivity related projects.
These case studies provide examples of how knowledgeable solution providers have used technology, processes and people to create effective and successful implementations in real-world situations. Case studies can be completed by filling out a simple online form where you can outline the project title, abstract, and full story in 1500 words or less; upload photos, videos and a logo.
Click here to visit the Case Study Database and upload your case study.