Internet of things for smart buildings Market, The coronavirus epidemic is putting pressure on the market for IoT for smart buildings. The market is anticipated to remain strong despite obstacles including cutbacks in expenditures due to tenant defaults and the continuing uncertainty of business reopening plans. According to the survey, IoT solutions are a helpful tool for creating smarter workplace, retail, and educational spaces as building owners and managers prepare to reopen facilities. Guidehouse Insights anticipates that this market will show resilience after the long-term negative effects of the coronavirus epidemic recede. The usefulness of IoT technology is anticipated to be more generally understood, and through 2029, the market for IoT solutions is anticipated to rise steadily.
Buildings are an essential component of a city’s ecology and are increasingly influencing residents’ standards of living and quality of life as urbanisation creates smarter cities. Owners and users benefit economically from intelligent buildings, which also increase tenant pleasure, safety, and well-being. Warehouses, factories, office buildings, and other commercial, industrial, and governmental structures are included in the market for smart buildings. Intelligent structures make use of a number of interconnected technologies, including artificial intelligence (AI), broadband wireless, cloud computing, and Internet of Things (IoT) networks and systems, to increase operational efficiency and provide a safer and more effective environment.
Due to improved tenant connections, more operational efficiency, and new revenue generation prospects, IoT has a big impact on the commercial real estate sector. Installed and used to improve building performance efficiency and user experience, IoT-enabled BMS uses sensor-generated data. Additionally, it can operate all building management solutions using a single infrastructure and requires little to no manual involvement. IoT-enabled BMS can be used for a number of things, such as lowering energy use, repairing and maintaining building systems, and lowering building administration costs. The Internet of Things (IoT) technology gives building owners the chance to interact directly with tenants and building users.
Global Internet of things for smart buildings Market: Major Players
Johnson Controls (US)
International Business Machines Corporation (US)
Schneider Electric (France)
ABB Group (Switzerland)
Cisco Systems, Inc. (US)
Honeywell International Inc. (US)
United Technologies Corporation (US)
Delta Controls (Canada)
Siemens AG (Germany)
Global Internet of things for smart buildings Market: Types
Infrastructure management system
Building energy management system
Intelligent security system
Network management system
Global Internet of things for smart buildings Market: Applications
University, School, & Hospital Buildings
Government & Public Infrastructure Facilities
Big data, cloud computing, and Internet of Things (IoT) technologies assist employees adapt to changing lives and vocations as well as optimise workspaces and individual working environments. The platform provided a better user experience and very effective administration. In the upcoming years, it is anticipated that these discoveries will lay the groundwork for the creation of ground-breaking technologies that will dramatically improve human lifestyles. Companies offer maintenance and assistance for updating systems to improve the management and performance of smart buildings. Additionally, the businesses are working to evaluate existing solutions routinely in order to optimise performance through specialised technology adjustments and process enhancements.
Key Questions Addressed
- What are the main drivers for industry growth? The report assesses the main industry drivers, barriers to growth and key meta trends.
- What does the competitive landscape look like? There is an analysis of the supply side structure of the market and commentary on M&A and investment trends.
- What is the size and structure of the global BIoT market? The report has an assessment of the global market size for hardware, software and services in 2021 and forecast to 2027. Market data is also broken down by geographic region, vertical and application type.
- How many connected IoT devices have been installed in commercial smart buildings? The report estimates the installed base of IoT devices in commercial smart buildings from 2019 to 2027. This data is also broken down by geographic region, vertical and application type.