Global Market for IoT for Intelligent Buildings is Expected to Exceed $22B in 2026
June 2, 2017 | Navigant ResearchEstimated reading time: 1 minute
IoT-enabled buildings support open communications and standards, contributing to reduced costs and improved integration possibilities.
A new report from Navigant Research examines the global market opportunity for Internet of Things (IoT) technologies for commercial buildings, providing global forecasts, segmented by region, customer, and offering, through 2026.
Commercial building owners are feeling the pressure to invest in intelligent building technologies that leverage the IoT, providing better insight on operations and equipment as well as access to real-time data for productivity, convenience, and sustainability. As hardware prices continue to drop while storage and computing power increase via cloud computing, the IoT’s market growth is increasing. Click to tweet: According to a new white paper from @NavigantRSRCH, the global IoT for intelligent buildings market is expected to grow from $6.3 billion in 2017 to $22.2 billion in 2026.
“Leveraging Internet-connected devices that collect and communicate data and software for data aggregation and analysis, IoT-enabled intelligent building solutions are secure, scalable, and interoperable,” says Christina Jung, research analyst with Navigant Research. “They support open communications and standards within the building space, assisting with reduced costs and improved integration possibilities.”
Given the enterprise-level integration across buildings and systems with IoT systems, customers have come to expect solutions that not only address energy management and operational efficiency, but also offer use cases related to in-building experience as well as revenue generation services. According to the report, IoT solutions can facilitate those use cases, assembling data from one or multiple buildings and presenting normalized information that can be managed though one open and scalable infrastructure.
The report, IoT for Intelligent Buildings, examines the global market opportunity related to IoT technologies for commercial buildings. The study provides an analysis of the value chain, use cases, and major market drivers and barriers for IoT in intelligent buildings. Global market forecasts, segmented by region, customer (building) type, and offering type (hardware, software, and services), extend through 2026. The report also examines the key technology issues, as well as the competitive landscape, associated with IoT for commercial buildings.
Suggested Items
IDTechEx Report Unveils 3D Electronics Status and Opportunities
04/22/2024 | PRNewswire3D electronics is an emerging manufacturing approach that enables electronics to be integrated within or onto the surface of objects. 3D electronic manufacturing techniques empower new features, including mass customizability, greater integration, and improved sustainability in the electronics industry.
IDTechEx Examines the Opportunities for Wearables in Digital Health
04/19/2024 | IDTechExIDTechEx’s report, “Digital Health and Artificial Intelligence 2024-2034: Trends, Opportunities, and Outlook”, covers this ongoing trend in the consumer health wearables market and includes analysis of the opportunities and roadmap for biometric monitoring.
Real Time with... IPC APEX EXPO 2024: Pluritec's Expansion and Growth in the North American Market
04/19/2024 | Real Time with...IPC APEX EXPONicola Doria, president of Pluritec, discusses the company's strategic focus on the North American market, their investment in a new sales organization, service expansion, and a new process integration line. The conversation also covers market response and future installations, as well as Pluritec's new partnership with IEC.
Mycronic Releases Interim Report January–March 2024
04/18/2024 | MycronicNet sales increased 39 percent to SEK 1,692 (1,219) million. Based on constant exchange rates, net sales increased 42 percent.
Real Time with... IPC APEX EXPO 2024: Exploring Silicone Solutions with R&D Director of CHT
04/17/2024 | Real Time with...IPC APEX EXPOIn this interview, Gerry Ellis, the R&D director for CHT, discusses the product range offered by his company. He explains the challenges in creating base formulations, the drive to make products more user-friendly, and the various application techniques involved. Ellis also highlights the key market segments and the significance of providing efficient solutions to customers.