A Navigant Research report indicated more businesses are adopting energy management solutions, as the cost of doing so declines.
By 2024, the building energy management solutions market will be worth roughly $10.8 billion – nearly five times the value of the current market. The increase is mainly due to the number of companies that can now afford more advanced technology like diagnostics and HVAC systems connected to the Internet of Things. With these features, businesses can closely monitor HVAC performance and detect faults when they occur.
"Building energy management systems represent an important revolutionary step in the approach to facilities and operations management," said Senior Research Analyst at Navigant Research Casey Talon. "As the market matures, more integrated and sophisticated BEMS solutions are delivering energy efficiency improvements while also enabling comprehensive business intelligence and strategic management."
Likewise, businesses are more involved in promoting data-driven solutions for energy efficiency, as evidenced by a new survey from research company Gartner. The survey found 40 percent of organizations believe the IoT will play a huge role in building management in the years ahead. Though the number of people that understand how to use the IoT effectively is still somewhat limited, in the future, it has the potential to revolutionize the HVAC industry entirely.
With HVAC units connected to a larger system via the Internet, engineers can collect data and use analytics to determine where inefficiencies occur. With this knowledge, businesses can save money on operation costs and implement the most cost-effective energy consumption models.
Energy management also comes down to having the right HVAC equipment for the job. For instance, poor-performing HVAC coils can hinder a company's ability to keep energy costs under wraps. For HVAC solutions, businesses are turning to Rahn Industries.
Rahn has a full lineup of spray and immersion (dip)/ Bake protective coatings to meet your needs.