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As the U.S. continues its recovery and budgets are refreshed, tracking the retrofit and new build markets will remain an important metric for growth opportunity, especially as energy efficiency recommendations continue to evolve.
To help lower operating expenses, companies must consider the total cost of ownership when purchasing new equipment. By purchasing slightly more expensive gear that is more efficient, manufacturers can save massively on electricity costs over the years.
The global market for integrated equipment in buildings is forecast to grow at an average annual rate of 20.3%—from $12.6 billion in 2012 to $31.6 billion by 2017. As a proportion of overall building equipment investment, smart applications are forecast to increase from 8% to 14% over the same period.
The economic climate is impacting investment in construction which has the potential to slow the growth of smart building deployments globally.
Commercial, Retail Buildings Fastest Adopters Of Remote Monitoring Services In Intelligent Buildings
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.