The ascendant market of wireless smart home systems
Wireless control systems are due to gradually outpace their wired counterparts, according to a recent report from Navigant Research. The niche market is forecasted to net $294.8 million in annual revenue by 2020, thanks in part to lower installation costs and ease of use.
"While wireless controls are generally more expensive than their wired counterparts, they offer building owners and managers a number of economic benefits," said Bob Gohn, Navigant Research's senior research director. "The labor costs for installing wireless systems are much lower compared with wired, and wireless systems often provide networked control in buildings or areas where wired controls are simply too challenging or expensive to install."
According to the company, wireless networks are becoming increasingly preferable for remote management of lighting, HVAC, security, fire and safety controls. The report found that most companies are using their own proprietary wireless technology, with some vendors taking a hybrid approach of using their own applications to manage standardized devices and networks.