The global Building Analytics Market is experiencing significant growth, with a forecast to reach USD 15.21 Billion by 2026, according to a new report by Reports and Data. This growth is being driven by the need to enhance Building infrastructure in terms of energy, comfort, security, and overall development. Building Sustainability solutions deliver automated fault detection and diagnosis, and real-time performance monitoring for smart Buildings, making them essential for improving Building performance and energy efficiency.
The rapid industrialization and urbanization that is happening around the world is creating a high demand for constructing various structures, which in turn is driving the global demand for Building Sustainability solutions. Key market players are rapidly developing user-friendly solutions, which is projected to increase the need for Building Sustainability solutions in the forecast period.
While these factors create opportunities for market growth, the high cost of implementing these solutions poses a limitation in the market. However, the consistent advancements in the information & communication technology market owing to innovative efforts have enhanced the efficiency of Building Sustainability solutions, making them more affordable and accessible.
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The increasing adoption of building analytics in the building and construction sector has significantly contributed to the global market’s growth. Building analytics software and services play a crucial role in identifying energy wastage and implementing measures to minimize energy usage within the industry. As one of the fastest-growing industries worldwide, the building and construction sector has driven the demand for building analytics solutions.
Developing regions are actively investing in the international building analytics and construction market to leverage its benefits. However, North America stands out as the most technologically advanced region globally and is expected to hold a substantial market share in building analytics during the forecast period. This dominance can be attributed to the presence of major industry players such as IBM and Honeywell International in the region.
Furthermore, the advancement of technologies in North America acts as a catalyst for the market’s growth. Ongoing technological developments across the region further contribute to the adoption and expansion of building analytics solutions. Key players in North America are strategically focusing on new technological advancements to support the growth of the building analytics market in the region.
Top 10 Companies Operating in the Global Building Analytics Market:
Schneider Electric, Johnson Controls, IBM, Honeywell, Siemens, General Electric, BuildingIQ, ICONICS, CopperTree Sustainability, and Delta Electronics, among others.
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The global market is further segmented into type and application:
Component Outlook (Revenue, USD Billion; 2016-2026)
Building Type Outlook (Revenue, USD Billion; 2016-2026)
- Manufacturing Facilities
- Residential Buildings
- Commercial Buildings
- Public Places
- Government Buildings
Deployment Type Outlook (Revenue, USD Billion; 2016-2026)
Applications Outlook (Revenue, USD Billion; 2016-2026)
- Fault Detection and Monitoring
- Energy Management
- Security Management
- Parking Management
- Emergency Management
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further key findings from the report suggest
- The commercial Building segment held the largest market share of 32.3% in the year 2018.These commercial Buildings include IT parks & office Buildings, restaurants & bars, shopping malls, and pubs & hotels. Office Buildings have a higher demand for Building Sustainability software and services in order to save the maximum amount of energy as these Buildings have higher consumption from HVAC and lighting systems.
- Energy management segment held the largest market share of 29.2% in the year 2018. Companies are rapidly implementing Building Sustainability software and services due to the increasing need to deal with the HVAC control frameworks in real-time for its high consumption of energy.
- The services segment is forecasted to grow with a higher CAGR of 14.1% during the forecast period. Services include managed service and professional services, which includes consulting and support & maintenance.
- The Asia Pacific is forecasted to grow with the highest CAGR of 14.2% during the forecast period. The green revolution and energy conservation initiatives are focusing on Building more and more smart Building or smart homes in the region. These factors are responsible for the increasing adoption of Building Sustainability in the region.
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