The market for HVAC systems was $197 billion in 2021 and is expected to reach over $271 billion by 2026. The bulk of that growth will happen in the commercial sector, in part due to the growing demand for energy efficiency. This is compounded by a growing interest in using HVAC systems to make buildings healthier.
Smart Building Platform
Technology has changed the way buildings function. From predictive heating and cooling to smart lighting, tech is making buildings more agile and responsive than ever before. But it’s also changing the way buildings are managed and maintained. Smart building technology and wireless connectivity mean you are no longer tethered to your properties. Building management system remote monitoring gives you more freedom and more control than ever before.
Smart building digital twins model the physical assets they represent, providing a link between simulated and real-world structures. Especially useful in data-driven smart buildings, digital twins are becoming an important tool for optimizing building operations and performance. But which type of smart building digital twin is best to unlock the potential of your assets?
Commercial buildings account for nearly half of total energy consumption in the U.S. at a cost of more than $300 billion per year. Much of that energy is wasted through inefficiencies, resulting in significant and unnecessary greenhouse gas emissions. The energy waste also translates to higher electricity bills that can be avoided by adopting a strategic energy management approach.
Efforts to decarbonize the economy have gained rapid adoption in recent years. While energy and transportation tend to get the most coverage, the U.S. building sector consumes 40% of primary energy usage and generates a corresponding percentage of greenhouse gas emissions. Owners who invest in smart, efficiency-focused solutions can significantly reduce their carbon footprints and energy-related costs.
According to the 2020 Global Status Report for Buildings and Construction, building operations account for 55% of global electricity consumption and 38% of total global energy-related carbon dioxide emissions. Building-level energy metering can change that and help you create a cleaner, greener future.
While government incentives have encouraged electric utilities to deploy smart metering systems, the same has not happened for natural gas and water utilities. But lower-cost connectivity is accelerating demand for water and gas monitoring systems. In fact, the number of connected nodes for natural gas and water is expected to reach 150 million by 2028—a staggering 82% increase over a decade.
In hospitals, air quality counts. According to research at Texas A&M University, indoor air pollution in hospital environments increases the risk of hospital-acquired or healthcare-associated infections (HAI) to patients, staff, and visitors, and can have a significant impact on patient outcomes. Smart technology allows hospitals to take control of indoor air quality (IAQ) and support the health and well-being of everyone who comes through their doors.
Since legalization, cannabis growers have sought out better ways to farm to meet demand without compromising quality. While outdoor cultivation offers a lower-cost approach for growing, crops grown outdoors are much more vulnerable to weather, pests, and other uncontrollable environmental issues. Indoor cultivation nixes these problems, allowing cultivators to control every aspect of plant growth. Yet, many wonder if indoor growing is sustainable in the long term due to the enormous amount of energy it requires.
Information technology (IT) and operational technology (OT) within buildings have historically stayed in their own siloes. But smart buildings are changing that. In intelligent built environments, building systems are becoming more connected than ever before and collaboration with IT infrastructure is becoming not just possible, but necessary.