The global Smart buildings 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 Smart buildings infrastructure in terms of energy, comfort, security, and overall development. Smart buildings analytics solutions deliver automated fault detection and diagnosis, and real-time performance monitoring for smart Smart buildingss, making them essential for improving Smart buildings 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 Smart buildings analytics solutions. Key market players are rapidly developing user-friendly solutions, which is projected to increase the need for Smart buildings analytics 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 Smart buildings analytics solutions, making them more affordable and accessible.
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Top 10 Companies Operating in the Global Keyword Market:
Schneider Electric, Johnson Controls, IBM, Honeywell, Siemens, General Electric, Smart buildingsIQ, ICONICS, CopperTree Analytics, 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)
- Software
- Service
Smart buildings Type Outlook (Revenue, USD Billion; 2016-2026)
- Manufacturing Facilities
- Residential Smart buildingss
- Commercial Smart buildingss
- Public Places
- Government Smart buildingss
- Others
Deployment Type Outlook (Revenue, USD Billion; 2016-2026)
- On-premise
- Cloud
Applications Outlook (Revenue, USD Billion; 2016-2026)
- Fault Detection and Monitoring
- Energy Management
- Security Management
- Parking Management
- Emergency Management
- Others
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 Smart buildings segment held the largest market share of 32.3% in the year 2018. These commercial Smart buildingss include IT parks office Smart buildingss, restaurants bars, shopping malls, and pubs hotels. Office Smart buildingss have a higher demand for Smart buildings analytics software and services in order to save the maximum amount of energy as these Smart buildingss 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 Smart buildings analytics 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 Smart buildings more and more smart Smart buildings or smart homes in the region. These factors are responsible for the increasing adoption of Smart buildings analytics in the region.
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