Intelligent building solutions, a $95.2 billion market and growing

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The global market for intelligent buildings solutions will record an annual compound growth rate of 16.4% between 2018 and 2028, according to Navigant Research.

Annual market revenue is expected to reach $95.2 billion by the end of 2018.

Casey Talon, research director with Navigant, said: “Customers realize financial benefits by changing how building systems operate.

“However, ROI is not the only consideration. The pressure is mounting for building owners and managers from occupants, customers, and even shareholders who want connected, customised, sustainable, and automated commercial spaces.”

According to the study:

  • Intelligent building solutions are toolkits for optimising commercial buildings.
  • Services have become increasingly important in the market as they help building owners navigate the digital transformation with guidance on technology selection, implementation and management, and long-term strategy development.
  • Vendors are challenged with expanding competencies spanning IT, operational technologies, and Internet of Things
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Nicholas Nhede is an experienced energy sector writer based in Clarion Event's Cape Town office. He has been writing for Smart Energy International’s print and online media platforms since 2015, on topics including metering, smart grids, renewable energy, the Internet of Things, distributed energy resources and smart cities. Originally from Zimbabwe, Nicholas holds a diploma in Journalism and Communication Studies. Nicholas has a passion for how technology can be used to accelerate the energy transition and combat climate change.