Annual Revenue for Intelligent Building Solutions for Retail Markets Is Expected to Exceed $21 Billion in 2027
Intelligent building solutions vendors can support retailers as they grow into more encompassing selling and engagement strategies
A new report from Navigant Research analyzes the market for intelligent building solutions for retail buildings, including hardware, software, and services, and provides global market forecasts through 2027.
The retail industry faces a challenging environment as competition and pressure from online sales intensify. For brick and mortar retailers, intelligent building solutions can help alleviate some of this pressure by allowing for more efficient management of operations and holistic engagement with their customers through unique online and offline strategies. Click to tweet: According to a new report from @NavigantRSRCH, intelligent building solutions for retail markets are expected to realize revenue of $10.2 billion in 2018 and grow at a global compound annual growth rate (CAGR) of 8.4% to reach $21.1 billion in 2027.
“A retailer can start realizing efficiencies directly with the installation of LED lighting technologies and progress along the innovation curve as they learn and grow into more complex use cases,” says Tom Machinchick, principal research analyst at Navigant Research. “Through the addition of more advanced sensors, relatively simple-to-install wireless technology, and cloud-based analytics, retail businesses can continue realizing those efficiencies while also enhancing the customer experience.”
According to the report, one of the advantages of intelligent building solutions for retailers is that they are flexible. Intelligent building solutions vendors can help retailers understand how to apply these technologies and provide ongoing support and services as retailers grow into more encompassing selling and engagement strategies.
The report, Intelligent Building Solutions for Retail, analyzes the global market for intelligent building solutions, including hardware, software, and services, for retail buildings. The study explores the key market drivers and hurdles presented by intelligent building solutions in a retail setting. Global market forecasts, broken out by segment, hardware, software, and service type, retailer type, and region, extend through 2027. The report also examines the value propositions, retail stakeholders, and regional trends related to intelligent building solutions for retail. 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, Intelligent Building Solutions for Retail, 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.