Spending on smart building tech to reach $21.9 billion in 2018, says IDC
Spending on smart building technology will reach $21.9 billion in 2018, up from $6.3 billion in 2013, according market research firm IDC.
This growth will be spurred by greater market awareness of the business value of smart building technology, maturation of the technology, increased need to control energy costs and overall economic recovery, says IDC.
There is a need for intelligent software and external services to analyze, interpret and prioritize data that is being collected by sensors, IDC notes.
"Often, gathering building data is not the issue, rather combining, interpreting and prioritizing that data is becoming the key challenge. Smart building solutions are valuable technologies for deploying energy management strategies that generate operational efficiencies, cost containment and sustainability benefits that appeal to key stakeholders across chain of command in building management," says Jill Feblowitz, vice president of IDC Energy Insights.
Key components of smart building technology will be wireless sensor networks (WSN) and devices, notes tech research firm ON World, which predicts that there will be 100 million smart building WSN devices non-residential buildings shipped by 2019. By then, ON World projects that WSN radios will have two times the network range, energy harvesters will be four times smaller and wireless sensors will be capable of being powered with a coin cell battery.
"Technology advances for WSN components such as radio sensitivity, ultra-low power consumption, MEMS sensors and energy harvesting have accelerated adoption in commercial buildings," says Mareca Hatler, ON World's research director.
ON World notes that there is increasing integration of wireless energy management systems into smart building's lighting infrastructure. Many of these systems employ hundreds of WSN nodes per gateway, while some have localized intelligence with software and integrated sensors in lighting fixtures.