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Wireless control for smart buildings to reach $434 Million in annual revenue by 2023

According to a new report from the research firm, worldwide revenue from wireless control systems for smart buildings is expected to grow from $97 million annually in 2014 to $434 million in 2023.

“Although wireless controls are generally more expensive than their wired counterparts, that price gap is eroding quickly,” said Benjamin Freas, research analyst with Navigant Research. “Wireless controls also provide greater flexibility than wired ones, particularly the ability to install sensors and devices in buildings that cannot easily be torn apart to put in wiring, making wireless systems ideal for retrofit projects in existing buildings.”

While the adoption and deployment of wireless systems based on standard technologies and protocols, such as Wi-Fi, Zigbee, and EnOcean, are increasing, most wireless devices and control networks being used today utilize proprietary, vendor-specific wireless communications technology. That is likely to change, according to the report, as the demand for interoperability grows.

An executive summary of the report is available here.

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