DUBLIN--(BUSINESS WIRE)--The "The Internet of Things in Smart Commercial Buildings 2022 to 2027 - Market Prospects, Impacts & Opportunities" report has been added to ResearchAndMarkets.com's offering.
This Report is a new 2022 Study which Makes an Objective Assessment of the Market for Internet of Things Technologies, Networks and Services in Buildings 2022 to 2027.
The publisher's 5th edition of research into the market for the Internet of Things in Smart Buildings (BIoT) focuses on market sizing and opportunities for Smart Commercial Buildings. It provides a completely fresh market assessment of the industry based on the latest information. New for 2022, it INCLUDES at no extra cost, a spreadsheet containing the data from the report AND a graphics pack with high-resolution charts.
BIoT Market recovery through 2021 was healthy, growing 21% to rise above the 2019 market total, at just over $47 billion. The publisher forecasts that the market will continue to grow at a healthy 12% CAGR, rising from $47.07 billion in 2021 to a forecasted $92.88 billion by 2027.
Our latest forecast sees the number of connected IoT devices installed in commercial smart buildings grow at a healthy 11.1% CAGR for the forecast period, rising from an estimated 1.264 billion in 2021 to over 2.5 billion by 2027.
Key Questions Addressed
- What is the size and structure of the global BIoT market? The report has an assessment of the global market size for hardware, software and services in 2021 and forecast to 2027. Market data is also broken down by geographic region, vertical and application type.
- How many connected IoT devices have been installed in commercial smart buildings? The report estimates the installed base of IoT devices in commercial smart buildings from 2019 to 2027. This data is also broken down by geographic region, vertical and application type.
- What are the main drivers for industry growth? The report assesses the main industry drivers, barriers to growth and key meta trends.
- What does the competitive landscape look like? There is an analysis of the supply side structure of the market and commentary on M&A and investment trends.
- The market sizing and forecasts presented in this report are based upon a custom market model and iterative research methodology. This research builds on decades of experience in the evaluation of a wide variety of smart building related markets with a particular focus on tracking and evaluating the performance of a variety of technology markets and their impact on commercial buildings.
Key Findings
- There is an increasing industry push towards improving the value of data generated by the BIoT through improved systems integration, as opposed to limited siloed systems. To achieve this within buildings, a layered horizontal systems architecture is increasingly being advocated for, which is technology agnostic, by using open standards, open protocols, and non-proprietary solutions.
- The BIoT digital divide. The pandemic has gone on to validate the BIoT investments of more forward-thinking building owners and operators. Effectively demonstrating the value of many previously existing BIoT solutions to deliver more resilient and efficient business operations. For example, remotely accessing building system networks and devices to monitor and configure performance during the pandemic proved challenging for those without the pre-requisite systems already in place. In many cases this led to energy being wasted on heating virtually empty buildings. Whilst office building occupancy dropped to near zero in some countries, energy use only fell by 10-15%.
- The competitive landscape for BIoT remains incredibly complex and varied. The level of fragmentation the publisher continues to observe in the market can act as a source of confusion and frustration for buyers, with many vendors of point solutions and platforms vying for attention. Leading platform solution providers are beginning to emerge, however, and the user base seems likely to coalesce around a more limited number of platform providers, with those unable to maintain a sustainable user base being forced to merge or withdraw from the market.
- We are also seeing a greater degree of collaboration between the IT and OT worlds. A growing number of vendors are coalescing around cloud solutions provided by major IT companies such as Amazon and Microsoft. This should facilitate the development of "platform ecosystems", where data exchange, innovation and supply chain partnering are simplified by common tools and means of data exchange.
Key Topics Covered:
1. Key Elements of the IoT
2. The Building Internet of Things (BIoT)
3. The State of the Market
4. Standards & Protocols
5. BIoT Market Applications
6. Smart Building IoT Platforms
7. Vertical Market Analysis
8. The Global BIoT Market Forecasts
9. BIoT Market Analysis by Region
10. Meta Trend Analysis
11. BIoT Market Drivers
12. BIoT Challenges & Barriers
13. BIoT Challenges & Barriers
For more information about this report visit https://www.researchandmarkets.com/r/k4dlq6
