Buildings can play a pivotal role in helping to achieve smart city goals
A new report from Navigant Research evaluates the relationship between smart building technologies and smart city goals, providing an analysis of market issues and global forecasts through 2026.
In major cities, buildings are responsible for approximately 30 percent of global greenhouse gas emissions and 70 percent of energy consumption. To better align with climate and sustainability goals, and to help improve public health and safety, smart cities are looking to smart building technologies to drive impactful changes in facilities management. Click to tweet: According to a new report from @NavigantRSRCH, the global smart buildings in smart cities market is expected to grow from $3.6 billion in 2017 to $10.2 billion by 2026.
“There is a growing market opportunity at the intersection between the smart city concept and smart building technologies. Smart city agendas can encourage smart buildings market growth through regulations, incentive programs, and creative initiatives like open data platforms,” says Christina Jung, research analyst at Navigant Research. “Large volumes of data from benchmarking and reporting disclosure, as well as building management systems from public buildings, can be shared directly with the public, empowering city inhabitants with real-time information about their surroundings.”
According to the report, smart buildings can also become part of urban infrastructure to aid government operations and services by means of building security and motion sensors; remote shutdown of electrical equipment; temperature and humidity sensors for libraries and other sensitive environments; and building door and window sensors associated with alarm systems for security.
The report, Smart Buildings and Smart Cities, examines how smart city agendas encourage smart buildings market growth and how smart building technologies contribute to smart city goals. The study provides an analysis of the market issues, including regional trends, case studies at the city level, and market drivers and barriers. Global market forecasts for revenue, segmented by region, user type (institution/assembly, education, and healthcare), and product type (advanced sensors, building data analytics, submeters, and connectivity hardware) extend through 2026. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Smart Buildings and Smart Cities, 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.