Building Analytics Market, By Application (Fault Detection and Monitoring, Energy Management, Security Management, Emergency Management, Parking Management, Operations Management, Elevators, and Escalators Management, Network Management, Others) By Component (Software, Services), By Deployment Mode, (On-premises, Cloud) By Building Type, (Manufacturing Facilities, Residential Buildings, Commercial Buildings, Public Places, Government Buildings, Others), By Region – Global Analysis Forecast Till 2030

The Global Building Analytics market is projected to exceed the value of US$ 19.2 Bn by 2030, expanding at a CAGR of 14.23% during the forecast period.

Building analytics is primarily used to obtain insightful data that can help optimize a facility's energy performance and eliminate incapacity. Optimizing energy performance can help lower energy costs and improve equipment longevity and tenant comfort. It also helps make faster and more reliable building management decisions for a more dynamic and sustainable future. This will result in the growth of the building analytics market. Data received through building analytics is collected from smart building technologies related to building management systems (BMS), networked sensors, Internet of Things edge devices, and integrated workplace management systems (IWMS).

Buildings consume about 40% of total energy consumption worldwide. Therefore, energy-efficient buildings are required to reduce energy consumption and greenhouse gas emissions. Software used for building analysis can generate significant insights related to the energy consumption of the entire building infrastructure. This software is developed to efficiently monitor and control heat, ventilation, air conditioning, and other systems. Growing demand for energy-efficient systems and lower operating costs are expected to boost the global building analytics market over the forecast period.

Market Dynamics:

Drivers:

Reducing utility and overhead costs in commercial buildings by using energy-efficient systems is a growing trend with the growing trend of smart buildings worldwide. Many commercial buildings still rely solely on building automation systems to improve building energy management, thereby improving the lifespan of building equipment and building infrastructure. The implementation of smart energy management platforms to reduce energy consumption in buildings and building systems is expected to propel the growth of the building analytics market.

Restraints:

Growing concerns about security and safety: With the growing threat of terrorism, businesses are paying more attention to the security and safety aspects of their buildings. A building analysis can help identify potential security risks and vulnerabilities within a building, helping organizations take necessary precautions to protect their people and assets.

Key players:

• Carrier Corporation

• 4M S.A.

• BuildingIQ

• BuildingLogiX

• CIM Environmental Pvt Ltd

• CopperTree Analytics, Inc.

• Crestron Electronics, Inc.

• Delta Electronics, Inc.

• Eaton Corporation plc

• EnergyCAP, Inc.

• General Electric Company

• GridPoint

• Honeywell International Inc.

• IBM Corporation

• ICONICS, Inc.

• Johnson Controls International Plc.

• Lutron Electronics Co., Inc.

• PointGrab Inc.

• Schneider Electric SE

• Siemens AG

Market Segmentation:

Building Analytics Market, By Application:

• Fault Detection and Monitoring

• Energy Management

• Security Management

• Emergency Management

• Parking Management

• Operations Management

• Elevators and Escalators Management

• Network Management

• Others

Building Analytics Market, By Component:

• Software

• Services

  • Managed Services

  • Professional Services

    • Consulting

    • Support and Maintenance

Building Analytics Market, By Deployment Mode:

• On-premises

• Cloud

Building Analytics Market, By Building Type

• Manufacturing Facilities

• Residential Buildings

• Commercial Buildings

• Public Places

• Government Buildings

• Others

Building Analytics Market, By Region

• North America

  • Canada

  • US

• Europe

  • France

  • Germany

  • UK

  • Italy

  • Spain

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Rest of Asia-Pacific

• LAMEA

  • Latin America

  • Middle East

  • Africa

Regional Analysis:

Globally, there are five main regions that make up the global building analytics market: North America, Europe, Latin America, Asia-Pacific and the Middle East & Africa. Due to the rise of the construction industry backed by urbanisation and the emergence of smart buildings in nations like Canada and the United States, it is anticipated that the market in North America will account for the highest share during the projected period.

US gross domestic product in the construction sector totaled $ XX billion in the first quarter of 2021, according to data from the US Bureau of Economic Analysis. Further driving the market expansion in the region are anticipated to be increased public awareness of energy efficiency and government initiatives for power management and monitoring.

Due to the rapid acceptance of the Internet of Things (IoT) in countries like India, Vietnam, South Korea, and Indonesia, the market in the Asia Pacific region is anticipated to see the greatest CAGR during the projected period. Also, the governments of these nations are working hard to promote sustainable development and energy conservation in their nations. The Government of India established the Energy Efficiency Department to oversee maximising the nation's energy use as one such project.

Scope of the Report:

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