Global Revenue from Advanced Sensors and Electric Submeters to Hit $6.1 Billion in 2027
July 6, 2018 | Navigant ResearchEstimated reading time: 1 minute
According to a new report from @NavigantRSRCH, global revenue from advanced sensors and electric submeters could grow to $6.1 billion in 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.
“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.
Suggested Items
Mycronic Releases Interim Report January–March 2024
04/18/2024 | MycronicNet sales increased 39 percent to SEK 1,692 (1,219) million. Based on constant exchange rates, net sales increased 42 percent.
Real Time with... IPC APEX EXPO 2024: Exploring Silicone Solutions with R&D Director of CHT
04/17/2024 | Real Time with...IPC APEX EXPOIn this interview, Gerry Ellis, the R&D director for CHT, discusses the product range offered by his company. He explains the challenges in creating base formulations, the drive to make products more user-friendly, and the various application techniques involved. Ellis also highlights the key market segments and the significance of providing efficient solutions to customers.
Gartner Forecasts Worldwide IT Spending to Grow 8% in 2024
04/17/2024 | Gartner, Inc.Worldwide IT spending is expected to total $5.06 trillion in 2024, an increase of 8% from 2023, according to the latest forecast by Gartner, Inc. This is an increase from the previous quarter’s forecast of 6.8% growth and puts worldwide IT spending on track to surpass $8 trillion well before the end of the decade.
Catching Up With Chasom Electronics
04/16/2024 | Dan Beaulieu, D.B. Management GroupI recently met with Chasom Electronics’ founding director Anil Kumar. Chasom offers a unique menu of services for companies looking to extend their technology capabilities on a short- or long-term basis. Read on to learn about this very unique service company.
Cicor Records Solid Growth in Q1
04/16/2024 | CicorThe Cicor Group continued to grow in the first three months of the year. Quarterly sales increased by 11.8% to CHF 107.3 million compared to the first quarter of the previous year (Q1/2023: CHF 96.0 million).