Navigant: Global revenue for intelligent buildings to have 16% compound growth over next decade

Thursday November 7, 2019 0 comments Tags: Boulder, Navigant Research, intelligent buildings, Casey Talon

BOULDER -- Global revenue for intelligent buildings solutions is expected to experience a compound annual growth rate of 16.4% from 2018 to 2028, reaching $95.2 billion by the end of the forecast period, according to a new report from Navigant Research.

The report examines and sizes the global market for intelligent buildings solutions across the key segments of hardware, software, and services through 2028.NavigantNEWlogoUSE 

Intelligent building solutions have become the toolkit for optimizing commercial buildings. These technologies use a combination of hardware, software, and services to supplement building equipment, including lighting and HVAC systems, to deliver new insight into space use and operations

“Customers realize financial benefits by changing how building systems operate,” said Casey Talon, Navigant research director.

“However, ROI is not the only consideration. Pressure is mounting for building owners and managers from occupants, customers, and even shareholders who want connected, customized, sustainable, and automated commercial spaces.”

Services have become increasingly important in the intelligent building technologies market, helping building owners navigate the digital transformation with guidance on technology selection, implementation and management, and long-term strategy development.

According to the report, vendors are challenged with expanding competencies spanning IT, operational technologies, and Internet of Things (IoT). At the same time, vendors must understand the perspective of a growing group of customer stakeholders that range from facilities management to human resources to the C-suite.

The report, Intelligent Buildings Overview, analyzes the global market for intelligent building solutions in three key segments: hardware, software, and services.

The study provides an analysis of key market issues, including technology trends, competitive landscape, key industry players, and global market forecasts through 2028. Forecasts are also broken out by construction type and building size.

An Executive Summary of the report is available for free download on the Navigant website.