Navigant Research Report Shows Global Revenue from Advanced Sensors and Electric Submeters May Grow to $6.1 billion in 2027
BOULDER, Colo.--(BUSINESS WIRE)-- A new report from Navigant Research examines the global market for advanced sensors and electric submeters, providing global market forecasts segmented by product, building type, and region, through 2027.
Advanced sensors and submeters provide the data streams that can be used by building data analytics and software to translate data into actionable information for building performance improvement. Therefore, investment in these devices facilitates the development of more holistic energy management and enterprise integration strategies. In addition, technology trends such as the Internet of Things, cloud computing, and the adoption of mobile devices are expanding the business case for investment in advanced sensors and electric submeters. Click to tweet: According to a new report from @NavigantRSRCH, global revenue from advanced sensors and electric submeters could grow to $6.1 billion in 2027.
“Intelligent building solutions enabling the translation of granular data into actionable insight are gaining traction around the world. Therefore, sensors and submeters that feed data into the system have a pivotal role to play in the intelligent buildings market,” says Christina Sookyung Jung, research analyst with Navigant Research. “Insights from this sort of data-rich facility support stakeholders across the organization—from occupants and facility management and to the C-suite.”
The advanced sensors and electric submeters market is poised for steady growth in the next decade as intelligent building solutions gain deeper market penetration across customer segments and geographies. Navigant Research expects that global revenue from advanced sensors and electric submeters will grow from $2.7 billion in 2018 to $6.1 billion in 2027 at 9.4% CAGR, and the Middle East & Africa is expected to grow the fastest with a 12.2% CAGR.
This Navigant Research report, Market Data: Advanced Sensors and Electric Submeters, analyzes the global market for advanced sensors and electric submeters that support the development of intelligent buildings. The study examines seven product types: electric submeters and occupancy, photo, CO2, humidity, temperature, and multifunctional sensors. Global market forecasts, segmented by product and building type and region, extend through 2027. The report also examines how advanced sensors and electric submeters deliver business value through intelligent building solutions and provides recommendations to support global customer adoption of the devices.
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 Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Market Data: Advanced Sensors and Electric Submeters, 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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Source: Navigant Research