The ability to remotely monitor a home or building can reduce energy use while also decreasing energy costs. While the residential construction market is feeling a pull from homebuyers to include these types of green-home technologies in new builds, recent data suggests the group to most quickly adopt remote-monitoring systems will be the commercial sector.
According to IMS Research, which is now part of IHS, www.ihs.com, Englewood, Colo., “intelligent” buildings that make use of technology like remote monitoring will be a $400 million market by 2016. Interestingly, IHS says 80% of this market will consist of commercial and retail buildings.
In fact, the company’s latest data suggests end users in the commercial and retail sectors will be a prominent driver for growth within the remote-monitoring space, adopting the technology faster than residential builders and end users in other industries.
IHS says end users in the commercial and retail sectors are looking for ways to reduce overhead and operational expenses because the economy has taken a bite out of profits. As a result, these sectors tend to make remote-monitoring technology and other solutions a priority.
Remote-monitoring services are gaining traction as a growing number of building owners realize the value of deploying remote-monitoring technology. This type of building-automation solution can help decrease energy bills and streamline building management, making remote monitoring a competitive advantage.
While IHS believes commercial and retail will lead the way, other industries such as education, government, and hospitality will also capitalize on the value add associated with smart-building services. Forward thinkers in the residential market, too, will continue to adopt smart-home technologies that allow owners to remotely monitor and manage their home’s energy use.
In an economy that requires innovation to minimize operational costs while maximizing productivity, many builders, owners, and operators are turning to technology. By fitting buildings with automation solutions such as remote monitoring, these professionals are looking for long-term solutions that will contribute to their bottomline for years to come.