As digital transformation proliferates, new solutions offer capabilities beyond energy management
A new report from Navigant Research examines the global intelligent buildings market in the era of digital transformation, providing forecasts, broken out by segment, subsegment, sector, and region, through 2027.
Digital transformation is redefining business processes across industries, including in the intelligent buildings industry, where IT infrastructure, data, and analytics can combine to translate a complete data profile of facilities, systems, and operations into business metrics. Additionally, this foundation can become a platform in the Energy Cloud—a transfer point for data, information, or energy that creates new value and revenue for owners and partners. Click to tweet: According to a new report from @NavigantRSRCH, revenue for intelligent building solutions is expected to grow from approximately $15.1 billion in 2018 to $67.5 billion in 2027 at a compound annual growth rate (CAGR) of 18.1 percent.
“The path forward for owners looking to transform their commercial facilities into intelligent building platforms requires a shift in strategy and processes, investment in technologies and services, and an understanding of opportunities that can result from digital transformation,” says Casey Talon, research director with Navigant Research. “There are enormous opportunities for technology and services partners to build business as strategic partners.”
According to the report, today’s customers are looking for solutions that do more than just provide energy management. In response, building energy management systems (BEMSs) that were once the foundation of the market are being rebranded, building management systems (BMSs) that once delivered the technical details of automation and controls are being integrated with greater analytics capabilities and remote accessibility, and the rapid evolution of technology under the umbrella of Internet of Things (IoT) is introducing lower cost alternatives to help engage new customers and deepen the capabilities of existing intelligent building systems.
The report, Intelligent Buildings Market Overview, analyzes the global intelligent buildings market and explores the evolution of legacy solutions in the era of digital transformation. The study assesses the outlook for enabling hardware, software, and services for intelligent buildings and investigates the levers that will determine winners on the supply side and motivate investment on the demand side. Global market forecasts, broken out by segment, subsegment, sector, and region, extend through 2027. The report also examines the key technologies related to intelligent building solutions, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Stefanie Bradtner
* The information contained in this press release concerning the report, Intelligent Buildings Market Overview, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.