Australia Building Analytics Market to 2027 - Country Analysis and Forecasts by Deployment Type, Component, Building Type, and Application
The Australia building analytics market accounted to US$ 125.8 Mn in 2018 and is expected to grow at a CAGR of 13.2% during the forecast period 2019 - 2027, to account to US$ 375.0 Mn by 2027. The Australia building analytics market is heavily influenced by stringent building energy guidelines. As a result, various end-user such as commercial complexes, malls, offices, universities, manufacturing & production plants and residential buildings among others have adopted numerous building analytics-based solution & services for practical as well as efficient facility management. Moreover, factors such as minimizing the energy consumption of HVAC systems, building equipment & machinery, and optimizing energy utilization for achieving improved operational efficiency has attributed in growing penetration of building analytics across different facility managers. From a growth perspective, Australia is expected to witness a surge in demand for evolving analytics solutions owing to strong end-user industry growth and emerging economies in the country. The above factors are driving the Australia building analytics market.
The Australia building analytics market is segmented into deployment type as cloud-based and on-premises. In the present scenario, the increasing need for analytics solutions to enhance the operational efficiency of the building. With the use of analytic software, companies can extract real-time data, which provides them with significant information related to the customers' preferences and consumption. Additionally, it helps the companies to fragment better their customers based on their consumption pattern. This software can be deployed anywhere across the building to gather information, analyze it, and thus take appropriate actions accordingly. Among services such as consulting, training & deployment, and initial maintenance of the solutions is anticipated to drive the Australia building analytics market growth of services segment in the coming years.
Moreover, the increasing adoption of various energy efficiency based solutions and service has further propelled the Australia building analytics market demand for energy management based building analytics solutions. Factors such as increasing regulation by government and state authorities for construction and maintain the energy efficiency of the building primarily commercial building coupled with growing energy prices are expected to be the significant building analytics market driving factors for this segment. Moreover, rising emphasis by organizations as well as commercial enterprises for achieving optimal operation through effective and efficient energy utilization is also anticipated to drive the Australia building analytics market growth in the coming years. Furthermore, the penetration of smart technology enabled robust building management tools, and solutions have gained substantial traction in the past few years subsequently driving the Australia building analytics market demand for various building analytics related products and solutions.
The rising awareness among small and medium enterprises, commercial complexes, and organizations towards the versatile benefits of building analytics are anticipated to drive the building analytics market growth in the coming years. Increasingly stringent government initiatives for energy-efficiency is another significant factor fueling the Australia building analytics market growth. For instance, the US government, through its Office of Energy Efficiency & Renewable Energy, provides several guidelines and support for energy efficiency research. Also, the Department of Energy (DoE) offers several incentives and financing for energy-efficient homes.
Overall Australia, building analytics market size, has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Australia building analytics market. Also, multiple primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Australia Building Analytics market. Some of the players present in Australia building analytics market are Bueno, Buildingiq, Inc., Buildings alive, Cim enviro, CopperTree analytics, Delta Electronics, ENGIE Insight Services Inc., Envizi, Honeywell International, Inc., Johnson Controls International Plc. Schneider Electric SE, and Skyfoundary, among others.
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