Smart Buildings Market by Technology (AI, IoT, Indoor Wireless), Infrastructure, Solutions (Asset Tracking, Data Analytics, IWMS), and Regions 2019 – 2024
The smart buildings market consists of warehouses, factories, office buildings and other enterprise, industrial, and government structures. Intelligent structures leverage a variety of interdependent technologies such as Artificial Intelligence (AI), broadband wireless (including WAN and indoor wireless), cloud computing (including edge computing), and Internet of Things (IoT) networks to improve operational efficiency and enable a more safe and productive environment.
The smart buildings market is related to the smart workplace market, which includes some important enterprise and industrial automation systems and solutions such as integrated workplace management systems (IWMS), decision support systems utilizing advanced data analytics, and business asset management.
Leading companies within the commercial real estate sector are realizing tangible benefits by leveraging smart buildings market solutions as owners are able to charge higher fees for technology-enabled intelligent buildings. Accordingly, over 80% of new construction involves at least one facet of IoT and/or related smart buildings market related technologies. However, it is important to note that roughly 90% of legacy buildings in developed economies have issues that will require substantial retrofitting.
What Makes a Building “Smart”?
The term smart or intelligent building refers to an enterprise structure that is supported by software and systems to ensure more efficient and effective operations. Additional goals are to enhance the health and well-being and protect enterprise assets. Intelligent buildings are also closely associated with the concept of the smart workplace, which extends beyond a centralized work zone to include distributed and remote employees and corporate assets.
Commercial real estate owners are able to charge higher lease fees for intelligent buildings for a variety of reasons including lower operational costs as well as support for improved safety, comfort, security, and productivity for workers. Smart workplace benefits facilitated by intelligent buildings include work process improvement, work flow improvement, internal and external supply chain management optimization.
Smarter Building Data Analytics
Many of the solutions that make buildings smarter involve IoT capabilities. However, data and information systems to enable better decision-making are also critically important. AI may be implemented in conjunction with big data tools to enable enhanced data analytics. Almost Analytics Solutions are good at looking for patterns and unstructured data, supplementing them with AI can provide additional benefit of learning from experience.
Since enterprise verticals in many different Industries rely on buildings for operation, many market segments can benefit. For example AI algorithms in an office building can learn from the patterns of workers to determine the optimal time to adjust lighting and HVAC. In another example, AI support at healthcare facilities can help with critical care, ensuring that resources are available where they are needed the most based on historical patterns of occupancy and resource allocation.
Integrated Workplace Management Systems
The most efficient and effective smart buildings are those that include an Integrated Workplace Management System (IWMS). An IWMS solution is leveraged to both support a more integrated building control system as well as optimizing the workplace. This includes orchestrating workflow in processes relative to building resources and the environment in terms of things like optimal lighting, heating, and ventilation for workers.
IWMS solutions rely heavily upon IoT technology and data processing for optimal operation. The integration of AI can make these systems more efficient. For example, AI I can assist IWMS solutions in determining optimal allocation of building resources based on environmental factors, workflow, and the availability and location of personnel and organizational assets. This is particularly useful in a corporate campus environment or university where there are multiple buildings that are often multi-purpose and shared among departments.
Smart Building Market Report
This report evaluates the smart buildings market including technologies, players, and solutions. The report analyzes smart buildings challenges and opportunities, assesses market potential, and provides accompanying smart buildings market sizing, globally as well as regionally, and by market segment for 2019 – 2024. The report includes analysis of technologies supporting smart building automation, IWMS, and smart workplace applications and services. Smart building solution areas covered include 5G, AI, data analytics, and edge computing.
• IoT companies
• Smart building companies
• Broadband service providers
• Telecom infrastructure suppliers
• Communications component providers
• Cloud services and datacenter companies
• Smartgrid and energy management companies
• Local, State, and Federal government organizations
Select Report Findings:
• IoT solutions will improve lifecycle cost management for facilities and equipment through more intelligence utilization, maintenance, and predictive replacement
• Enterprise will benefit in general, as will certain management services companies that operate large industrial facilities and equipment such as drives, pumps, cooling towers, and compressors, which are all expensive, and utilize significant amounts of electricity
• Intelligent use of IoT technologies will be the key to continuous improvements in the areas of process automation for smart buildings and the overall smart workplace ecosystem
• IoT technologies are also anticipated to facilitate substantial positive revenue improvements within the commercial Real Estate (CRE) sector, enabling CRE companies to charge higher rents to tenants of IoT-enabled intelligent buildings as well as leverage various capabilities to provide smart workplace solutions
• Smart buildings market sizing from 2019 to 2024
• Market sizing for edge computing in smart buildings market
• Identify smart buildings market challenges and opportunities
• Understand the smart buildings marketplace including players and solutions
• Identify how key technologies such as AI and IoT support intelligent structures
• Identify how integrated workplace management systems support smart buildings
Companies in Report:
• ABB Group
• Abundant Power
• Accenture PLC
• Aeon Labs LLC
• Affinegy, Inc
• Affinity Automation, LLC
• American Auto-Matrix
• American Digitals
• American Energy Management
• AMMAMSIC Technology Corp
• Appin Associates
• Athena Engineering, Inc
• Automated Control Inc.
• Be Home247
• Brandt Automation, Inc
• Building IQ
• Building Robotics
• Cadillac Fairview
• Central Coast Environmental Controls
• Cisco Systems Inc.
• Copper Tree Analytics
• Current Analytics, Inc.
• Delta Controls
• Distech Controls
• E.M.S. Technologies
• Eagle Energy, Inc
• EFT Energy
• Elemco Building Controls
• Energy ETC, Inc.
• Enovity, Inc.
• eSight Energy
• Frazier Service Co.
• General Electric
• Genesis Automation
• Hawkeye Energy Solutions
• HomeLink Technologies
• Honda Smart Home
• Honeywell International Inc.
• Horizon Controls
• Hubbell Building Automation
• IBI group
• IBM Corporation
• Ingersoll Rand
• Ingersoll-Rand Inc.
• Inter Logix
• J2 Innovations
• Johnson Controls
• KMC Controls
• Lon Mark International
• LowV Systems, Inc.
• Lynx Spring
• Near Future, LLC
• Network and Automation Systems
• NexTek Power Systems
• Phoenix Energy Technologies
• Progressive Engineering & Design
• Ramco Electrical Contracting Corp.
• RBH Access Technologies, Inc.
• Reliable Controls
• Sawyers Control Systems, Inc.
• Schneider Electric
• Siemens AG
• Sullivan & McLaughlin Companies, Inc.
• Surveillance Grid Company
• Switch Automation
• Synergetic Systems
• Syska Hennessy
• TA Canada (Convergint )
• Taco Comfort
• TE connectivity
• TerraBridge Innovations in Technology, Inc.
• Thermo-Trol Systems, Inc.
• Trend Controls
• United Technologies
• Verdigris Technologies Inc.
• Wind River
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