Australia Building Analytics Market to Grow at a CAGR of 13.2% to reach US$ 375.0 Mn from 2018 to 2027

Australia Building Analytics Market to 2027 - Country Analysis and Forecasts by Deployment Type, Component, Building Type, and Application

Publication Month : May 2019

  • Report Code : TIPRE00004659
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 103
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The Australia building analytics market accounted to US$ 125.8 Mn in 2018 and is expected to grow at a CAGR of 13.2% during the forecast period 2019 - 2027, to account to US$ 375.0 Mn by 2027.



The government of the country targets to escalate 40% energy productivity by 2030 through the execution of strategies included under the National Energy Productivity Plan. These strategies comprise of reduction in total energy use in buildings, improvement in the national construction code, as well as encouraging the adoption of energy-efficient equipment. Moreover, the rising adoption of various energy efficiency based solutions and service has further propelled the Australia building analytics market demand for the energy management based building analytics solutions.

Australia Building Analytics Market

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Australia Building Analytics Market Insights


Increasing deployment of facility management tools driving the Australia Building Analytics Market


Facility management has gained immense adoption during the past few years as organizations have recognized that well-maintained utilities and buildings are essential for effective and efficient business function. Facility management involves analysis of day-to-day operations, maintenance, and repair of the utilities owned by a company, which results in cost-savings and increased employee productivity. Further, a facility manager is required to make sure that all the amenities in an organization are compliant with industry safety and health regulation, the building should have fire security and emergency exit strategy in place, maintenance of car parking and various other facilities. Also, regular electric and mechanical repairs together with property maintenance are a part of facility management. For helping a business to attain a competitive advantage as well as to increase employee productivity, organizations across the globe as adopting facility management tools.

The deployment of facility management tools has resulted in increased adoption of IoT enabled smart, connected devices, which creates a huge amount of data. Thus, with the increasing amount of data, facility managers are leveraging business analytics platform to understand the pattern of operations better. This helps them to gain insights on the exact situation and enable them to quickly diagnose issues and implement solutions to eradicate further damage/loss. Above factors are driving the Australia building analytics market.

Advantages related to predictive maintenance is propelling the Australia Building Analytics Market


Engineering, procurement, and construction companies; equipment manufacturers; as well as power and process plant owners and operators generally face the issue of maintaining their machinery, fleet, and other assets to work efficiently along with reducing the maintenance cost and time-complex repairs. It is essential to identify the basis of probable faults or failures before they occur, to meet the time-to-market requirement for products. Evolving technologies such as Big Data, IoT, and machine learning are allowing more production line assets to send data to a centralized server thus, resulting in easier detection of faults.

It is a complicated task to gather operational data from multiple systems as well as remote sources during the management of large fleets spread across numerous sites. Presently, most of the utilities make use of real-time historians for consolidating multiple data sources to attain a comprehensive insight into asset performance. On the basis of the data gathered, predictive analytics solutions can utilize the historian data to further enhance operations by reporting early warning detection of asset issues before they result in failure. The companies are significantly investing in predictive maintenance programs including, deployment of predictive analytics software for the purpose of achieving higher operational efficiency.

The emergence of advanced technologies such as building analytics has resulted in ensuring that all the required information is available and can be compared with other data sources quickly and accurately. Adoption of building analytics enable companies to implement predictive analytics to enhance operational performance. These factors are leading the Australia building analytics market.

Australia Building Analytics Market - Deployment Type Insights


The Australia building analytics market by deployment type has been segmented into cloud and on premise. Clouds are larger in size when compared to on-premise deployment type, due to which enterprise associated with cloud are benefitted with seamless, on-demand scalability. The cloud deployment model is ideal for organizations which are willing to adopt analytics solutions with low investment. It mainly allows the company to procure the data with all their services, but on an economical expense. In building analytics market, on- premise segment is leading as it provides a huge benefit for buildings by enabling it to preserve all their processes and current internal systems, such as authentication and access privileges.

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Australia Building Analytics Market - Component Insights


The Australia building analytics market is segmented on basis of component such as software and services. The analytics software offers a prosperous opportunities to the companies operating in building analytics industry. As the building analytics industry continues to shift towards the cloud based operation from on–premises, majority of its process are anticipated to be catered as a service such as maintenance, software updates, and analysis reports among others. Furthermore, with the increasing competition and highly regulated environment, the companies operating in the analytics industry are implementing analytical capabilities for efficiently competing in the market place. This factor has led the end users to adopt the latest technology increasingly leading the Australia building analytics market to escalate at a prime growth rate over the years from 2018 to 2027 globally.
 

Australia Building Analytics Market - Building Type Insights


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 Australia building analytics market is segmented into manufacturing facilities, commercial building, residential building, public places, and government building. In Australia building analytics market, manufacturing facilities holds largest market share in the year 2019. 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.

Australia Building Analytics Market - Application Insights


The Australia building analytics market by application has been segmented into fault detection & monitoring facilities, security management, energy management, emergency management, parking management, operations management, network management, and others. In building analytics market, energy management accounts for largest market share in the year 2019 as the energy management analytics provides several benefits, which includes, lower energy costs due to reduced energy consumption, lower maintenance costs due to efficient use of mechanical equipment, identification of opportunities with constant support & guidance for facility managers, enhanced occupant comfort, and autonomous measurement and authentication of energy conservation measures.

Australia Building Analytics Market -

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Australia Building Analytics Market: Strategic Insights

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Merger and acquisition was observed as the most adopted strategy in Australia Building Analytics market. Few of the recent mergers and acquisitions are listed below;

2018: Building IQ announced acquisition of Buildingsense. The acquisition is aimed to provide intelligent building services to more than thirty building across Australia.
2018: CopperTree acquired BuildPulse an energy management startup. According to the agreement BuildPulse would keep its office in Seattle and work under the CopperTree brand.

AUSTRALIA BUILDING ANALYTICS MARKET –SEGMENTATION

Australia Building Analytics by Deployment Type

  • Cloud Based
  • On premise

Australia Building Analytics by Component

  • Software
  • Service

Australia Building Analytics by Building Type

  • Manufacturing Facilities
  • Residential Building
  • Commercial Building
  • Public Places
  • Government Building

Australia Building Analytics by Application

  • Fault Detection & Monitoring Facilities
  • Energy Management
  • Security Management
  • Emergency Management
  • Parking Management
  • Operations Management
  • Network Management
  • Others

Company Profiles

  • Bueno
  • Buildingiq, Inc.
  • Buildings alive
  • Cim enviro
  • CopperTree analytics
  • Delta Electronics
  • ENGIE Insight Services Inc.
  • Envizi
  • Honeywell International, Inc.
  • Johnson Controls International plc.
  • Schneider electric se
  • Skyfoundary
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies

  1. Bueno
  2. Buildingiq, Inc.
  3. Buildings alive
  4. Cim enviro
  5. CopperTree analytics
  6. Delta Electronics
  7. ENGIE Insight Services Inc.
  8. Envizi
  9. Honeywell International, Inc.
  10. Johnson Controls International plc.
  11. Schneider electric se
  12. Skyfoundary

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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