The convergence of digital communication and energy efficiency has encouraged the growth of a variety of niche industries and platforms.


A recent report projects rapid growth in one of these once-obscure platforms. In August, the Boulder, Colo.-based market research firm Navigant Research released “Electric Submeters,” which cites a number of contributing factors to the growing use of this technology.


According to the report, demand is increasing for what it describes as “holistic energy-management solutions.” That can best be described as an approach that considers and manages all factors in a building’s energy consumption in detail. The report adds that electric submeters facilitate that approach because of the data they provide.


In more technical terms, Casey Talon, senior research analyst with Navigant Research, said, “submetering is a crucial component for attaining the granular energy-consumption data that enables energy-management software and services to generate actionable insights and facility and organizational changes.”


The Navigant report points to a number of technology trends that are contributing to the growing demand for submeters. They include the Internet of Things (IoT), cloud computing and the adoption of mobile devices.


Driven by the intelligent-buildings market and the need for such practices as tenant-level billing in multifamily housing and commercial real estate, the report explains that submeters are especially helpful for customers interested in billing allocation and energy-efficiency improvements.


The report adds that, while submeters are already “commoditized,” many new types of metering devices that use wireless communications and new form factors are also catching on. Global revenue from electric submeters is projected to grow from $949.7 million in 2015 to $2.5 billion by 2024.