Building Analytics Market (Application - Energy Management, Security Management, Fault Detection & Monitoring, and Emergency Management; Component - Software, and Services; Deployment Mode - On-premises, and Cloud; Building Type - Residential Buildings, Commercial Buildings, and Manufacturing Facilities): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

A recent report published by Infinium Global Research on the building analytics market provides in-depth analysis of segments and sub-segments in the global as well as regional building analytics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional building analytics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global building analytics market. According to the report, the global building analytics market is projected to grow at a CAGR of 14.3% over the forecast period of 2021-2027.

Market Insight

The global building analytics market was valued at USD 7767.8 million in 2021 and is expected to reach USD 17360 million in 2027, with a CAGR of 14.35% during the forecast period. Building analytics is the use of information gathered from smart building technologies like networked sensors, building management systems, and integrated workplace management systems. It's used for gaining meaningful insight into the building. The development function of building analytics software is to convert the complicated data, which is formed by the building management systems into simple data. The information is converted so take effective actions with the assistance of results. The technology continuously provides company managers and owners the imperial data about the performance of building infrastructure systems. Building analytics software is employed to come up with important understandings related to energy consumption within the entire building infrastructure. It helps in monitoring and controlling the heating, ventilation, air-con, and other systems of the building infrastructure. The optimization of energy performance can cause reduce energy costs and improve the equipment life additionally as residents’ comfort. Furthermore, the analytics software increases the lifespan of the building automation systems and electrical equipment.

Rising demand for energy-efficient programs and decreased operational costs by the development companies are among the main driving factors which will propel the expansion of the market. Furthermore, government initiatives & incentives and therefore the growing adoption of cloud-based IoT platforms are the factors that may create opportunities for the expansion of the building analytics market. An improvement within the adoption of smart building and cloud computing technologies is strengthening the expansion of the building analytics market. The energy management use is anticipated to manipulate the general building analytics market in terms of share and rate because it is predominantly finding its use altogether building facilities to cut back excessive energy consumption across premises. Constant progress within the information & communication technology market because of innovative efforts has intensified the efficiency of building the analytics market.  However, the necessity for extra expenditure to avail of building analytics services is anticipated to hinder the building analytics market within the forecast period. The dearth of awareness for building analytics is one of the main restraints of the building analytics market.

In terms of region, the building analytics market is often segmented into North America, Europe, Asia Pacific, Africa, and the Middle East. North America, being the most technologically advanced region in the world, holds a large market share of building analytics during the forecast period. This is because of the presence of key players such as Honeywell International and IBM in the region. Furthermore, advancements in technologies that are being developed in the European region will propel the growth of the market. The Asia Pacific is expected to dominate the market during the forecast period. The various major companies in the Asia Pacific are focusing on advanced technological developments to enhance the market growth in the region during the forecast period.

Segment Covered

The report on global building analytics market covers segments such as application, component, deployment mode, and building type. On the basis of application, the sub-markets include energy management, security management, fault detection & monitoring, and emergency management. On the basis of component, the sub-markets include software, and services. On the basis of deployment mode, the sub-markets include on-premises, and cloud. On the basis of building type, the sub-markets include residential buildings, commercial buildings, and manufacturing facilities.

Companies Profiled:

The report provides profiles of the companies in the market such as Honeywell International Inc., General Electric Company, Siemens AG, International Business Machines Corporation, Schneider Electric SE, Johnson Controls International Plc., Iconics Inc., KGS Buildings LLC, CopperTree Analytics Inc., and BuildingLogiX.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of building analytics market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.