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IoT Spending to Reach $1.7 Trillion in 2020
The HVAC industry is hoping to reap the benefits of the current IoT explosion that is set to reach $1.7 trillion in 2020, according to the IDC.
The potential of smart interconnected devices working alongside heating and cooling systems gives many in the industry hope that it can be a lucrative venture for commercial and residential use.
“Connectivity offers homeowners and building managers the ability to better control their environments, improve the efficiency of their HVAC systems, and reduce operating costs while conserving energy in the process,” says Sudhi Sinha, Vice President of Product Development at Johnson Controls. “This is clearly a fast-growing industry need.”
Internet-connected heating and cooling systems have the capability to monitor environmental conditions with the help of smart sensors. Once the data is processed, it can immediately be shared with system managers or homeowners.