The Global Market for IoT for Intelligent Buildings is Expected to Exceed $22 Billion in 2026, According to Navigant Research

IoT-enabled buildings support open communications and standards,
contributing to reduced costs and improved integration possibilities,
report finds

BOULDER, Colo.–(BUSINESS WIRE)–#Buildings–A new report from Navigant
Research examines the global market opportunity for Internet of
Things (IoT) technologies for commercial buildings, providing global
forecasts, segmented by region, customer, and offering, through 2026.

Commercial building owners are feeling the pressure to invest in
intelligent building technologies that leverage the IoT, providing
better insight on operations and equipment as well as access to
real-time data for productivity, convenience, and sustainability. As
hardware prices continue to drop while storage and computing power
increase via cloud computing, the IoT’s market growth is increasing. Click
to tweet: According to a new white paper from @NavigantRSRCH,
the global IoT for intelligent buildings market is expected to grow from
$6.3 billion in 2017 to $22.2 billion in 2026.

“Leveraging Internet-connected devices that collect and communicate data
and software for data aggregation and analysis, IoT-enabled intelligent
building solutions are secure, scalable, and interoperable,” says
Christina Jung, research analyst with Navigant Research. “They support
open communications and standards within the building space, assisting
with reduced costs and improved integration possibilities.”

Given the enterprise-level integration across buildings and systems with
IoT systems, customers have come to expect solutions that not only
address energy management and operational efficiency, but also offer use
cases related to in-building experience as well as revenue generation
services. According to the report, IoT solutions can facilitate those
use cases, assembling data from one or multiple buildings and presenting
normalized information that can be managed through one open and scalable
infrastructure.

The report, IoT
for Intelligent Buildings, examines the global market
opportunity related to IoT technologies for commercial buildings. The
study provides an analysis of the value chain, use cases, and major
market drivers and barriers for IoT in intelligent buildings. Global
market forecasts, segmented by region, customer (building) type, and
offering type (hardware, software, and services), extend through 2026.
The report also examines the key technology issues, as well as the
competitive landscape, associated with IoT for commercial buildings. An
Executive Summary of the report is available for free download on the Navigant
Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.

* The information contained in this press release concerning the
report, IoT for Intelligent Buildings, is a summary and reflects
Navigant Research’s current expectations based on market data and trend
analysis. Market predictions and expectations are inherently uncertain
and actual results may differ materially from those contained in this
press release or the report. Please refer to the full report for a
complete understanding of the assumptions underlying the report’s
conclusions and the methodologies used to create the report. Neither
Navigant Research nor Navigant undertakes any obligation to update any
of the information contained in this press release or the report.

Contacts

Navigant Research
Lindsay Funicello-Paul, +1-781-270-8456
[email protected]