BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research examines the market for data integration in intelligent buildings, focusing on software, services, and hardware, with global forecasts through 2025.
As the cost of advanced sensors has decreased and the amount of computational power and data storage has increased, buildings have become data-rich environments. Today, the global market for building data integration technologies is growing as vendors begin to understand and develop solutions that can process large amounts of facility data. Click to tweet: According to a new report from @NavigantRSRCH, global building data integration revenue is expected to grow from $89.9 million in 2016 to $971.3 million in 2025.
“For years, data-integrated buildings have shown promise in reducing energy and operational costs, especially as regulatory energy efficiency pressures and corporate sustainability strategies increase customer demand for data-driven solutions,” says Alvin Chen, research analyst with Navigant Research. “However, the analytics software to effectively provide actionable insights is still being developed to deliver on this promise.”
According to the report, while the potential for using large data sets to improve energy and operational efficiencies is significant, the challenges of organizing and understanding the data have yet to be overcome. New building energy management systems (BEMSs) can be implemented to enhance data collection and processing, but existing systems present obstacles in performing functional data analyses. Additionally, as BEMSs look to incorporate data from networked lighting, access controls, and demand response (DR) signals, the ability to develop analytics platforms as expert systems presents more challenges.
This report, Data Integration for Intelligent Buildings, analyzes the global market for data integration for intelligent buildings, with a focus on three offering types: software, services, and hardware. The study analyzes the current state of the building data integration market and provides insights into the future direction of fully integrated BEMSs based on the functionality of emerging technologies, semantic models, and shifting customer demands. Global market forecasts, segmented by region, offering type, and customer type, extend through 2025. The report also examines variations in the adoption of building data integration technologies across geographies and customer types, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Data Integration for Intelligent Buildings, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
