Global building analytics market size is expected to reach US$ 19,655.7 million in 2027 and registering at a CAGR of 14.1% between 2019 and 2027, according to a new research study conducted by The Insight Partners.
Manufacturing facilities segment is growing at a highest CAGR during the forest period
The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
The deployment of building analytics platform in different types of building depends on varied applications demanded by the infrastructure and nature. As for example, fault detection and monitoring is one of the major application used by manufacturing facilities; and energy management is extensively used by commercial and residential buildings. By building type, the building analytics market is segmented into manufacturing facilities, commercial building, residential building, public places, and government building.
Deployment of analytics in the manufacturing facilities enable the companies to monitor all the manufacturing processes in real-time and helps the facility manager to act in order to prevent failure, optimize field service, as well as vigorously reallocate production resources on time in case of any faults or changes. Further, it allows monitoring of individual asset performance at different levels of production thus, gaining insights regarding the productivity of various assets.
Presently, several manufacturing organizations are experiencing digital transformation in order to become smart digital manufacturing companies. This has resulted in the integration of sensors in production line equipment as well as in other assets to facilitate the collection and analysis of data for optimizing operations, boost asset performance, improve productivity and reduce risk. Fault detection and monitoring or FDD is the most common application of business analytics used by manufacturing companies worldwide. Other applications are also significant for manufacturing facilities such as emergency management, security management, energy management, and operations management among others.
Currently, the companies offer a mix of solution and services to their clients such as malls, airports, manufacturing & production plant residential complexes, hotels, offices, and government buildings among others for their seamless facility management. Further, the companies also offer insights and reports to relate to fault detection, monitoring, and risk assessment analytic reports for making informed decisions and framing policies for improved infrastructure management. Some of the leading companies operation in this market are Schneider Electric, IBM Corporation, SkyFoundry, Environmental Systems Inc., Senseware, Gooee, Acorn Engineering Group Limited, Waibel Energy Systems, Buildingiq, Siemens AG, General Electric, Iconics, Coppertree Analytics, Delta Electronics, Enernoc, Buildpulse, Engie Insight, Gridpoint, Ecovox, Buildinglogix, Crestron Electronics, Energy Advantage, Honeywell, AT Kearney, Xchanging PLC (CSC Computer Sciences International Operations Limited), and Arup Group among others.
The report segments the Global Building Analytics Market as follows:
Global Building analytics Market - By Deployment Type
- Cloud Based
- On-premise
Global Building Analytics Market - By Component
- Software
- Service
Global Building Analytics Market - By Building Type
- Manufacturing Facilities
- Residential Building
- Commercial Building
- Public Places
- Government Building
Global Building Analytics Market - By Application
- Fault Detection & Monitoring Facilities
- Energy Management
- Security Management
- Emergency Management
- Parking Management
- Operations Management
- Network Management
- Others
Global Building Analytics Market - By Geography
- North America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- South America (SAM)
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