Energy management is the leading the application segment of the global building analytics market by 2027
The "Building analytics Market to 2027- by Deployment Type (Cloud-Based and On-Premise), Component (Software and Service); Building Type (Manufacturing Facilities, Residential Building, Commercial Building, Public Places, and Government Buildings); and Application (Fault Detection & Monitoring Facilities, Security Management, Energy Management, Emergency Management, Parking Management, Operations Management, and Network Management)- Global Analysis and Forecast". The scope of study involves understanding on the factors responsible for this growth of building analytics market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant building analytics players in the market and their key developments.
Building analytics Market to 2027 - Global Analysis and Forecast by Bond Type. In terms of revenue, the global building analytics market accounted for US$ 6,181.4 million in 2018 and is expected to grow at a CAGR of 14.1% over the forecast period 2019-2027, to account for US$ 19,655.7 million in 2027.
There has been a noteworthy growth in deployment of numerous networked sensors in modern buildings for improving convenience, occupant comfort accessibility, as well as energy-efficient operations. These advancement in technologies hold the potential of substantial developments in fault diagnosis, and centralized operation and management.
Energy efficiency capability of any building is completely dependent on the way it is operated. Thus, energy management is the crucial element for efficient operation. The analysis of operation data helps in providing better understanding of the systems and to detect inefficiencies and faults. Building analysis helps facility managers to achieve energy efficiency by leveraging innovative visualizations and machine learning algorithms. The energy management analytics provides several benefits, which includes, lower energy costs due to reduced energy consumption, lower maintenance costs due to efficient use of mechanical equipment, identification of opportunities with constant support & guidance for facility managers, enhanced occupant comfort, and autonomous measurement and authentication of energy conservation measures.
Several building operators finds it difficult to understand optimal performance levels for a building's system. The analysis of the data collected from different equipment of a building helps the facility managers to create policies for controlling consumption and waste. These policies to control offers significant saving and complete understanding of the different systems within a building.
The global building analytics market by geography is segmented into five regions including North America, Europe, Asia Pacific, Middle East & Africa and South America. Market is currently dominated by Europe followed by North America however, the market in APAC is growing at a highest CAGR. Some of the major companies operating in the market include Acorn Engineering Group Limited, Arup Group, AT Kearney, Buildingiq, Buildinglogix, Buildpulse, Coppertree Analytics, Crestron Electronics, Delta Electronics, Ecovox, Energy Advantage, Enernoc, Engie Insight, Environmental Systems Inc., General Electric, Gooee, Gridpoint, Honeywell, IBM Corporation, Iconics, Schneider Electric, Senseware, Siemens, SkyFoundry, Waibel Energy Systems, Xchanging PLC (CSC Computer Sciences International Operations Limited) among others.
The report segments the Global Building Analytics Market as follows:
Global Building analytics Market - By Deployment Type
Global Building Analytics Market - By Component
Global Building Analytics Market - By Building Type
Global Building Analytics Market - By Application
Global Building Analytics Market - By Geography
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