Building Data Integration to Achieve $971.3M Revenue by 2025
Based on a study conducted by Navigant Research, as the amount of computational power and data storage has increased and the cost of advanced sensors has decreased, establishments have become data-rich environments. To date, the building data integration technologies market worldwide is said to be increasing as vendors start to understand and develop more solutions that can process large amounts of facility data. According to the new report, the said industry is anticipated to grow from $89.9 million in 2016 to $971.3 million in 2025.
Alvin Chen, a Research Analyst with Navigant Research said, “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. However, the analytics software to effectively provide actionable insights is still being developed to deliver on this promise.”
Achrnews reported that based on the study, there is potential for using large data and it can improve energy and operational efficiencies. New building energy management systems or BEMS, can be carried out to improve data processing and collection, and experts look into incorporating the data from networked lighting, demand respond signals, and access controls.
This specific Navigant Research study mainly focuses on the data integration for intelligent establishments and highlights three offering types namely hardware, services, and software. It evaluates the present condition of the building data integration market and shares insights into the future of fully integrated BEMS based on the performance of emerging technologies, changing customer demands, and semantic models. The report analyzes the differences in the adoption of building data integration technologies in various locations and kinds of customers.
People and industries that need this report include the investor community, building energy management systems providers, commercial building automation system vendors, lighting controls manufacturers, electric utilities, security and access vendors, government agencies, and commercial real estate providers.
According to its website, Navigant Research is a market research and consulting team the gives in-depth studies of global clean technology markets. The team’s research methodology combines supply-side industry analysis, examination of technology trends, and end-user primary research and demand assessment to provide extensive views of various industry sectors.