Building Analytics Market Estimated to Reach a Value of US$3.776 billion by 2025
Building analytics is used in order to minimize the operational costs, maintenance cost and the efforts required by the personnel in order to achieve efficiency and gain a competitive edge over the other companies.
According to the report, The global building analytics market was valued at US$1.446 billion in 2019 and is expected to grow at a CAGR of 17.34% over the forecast period to reach a total market size of US$3.776 billion by 2025. The burgeoning demand of analytic tools and solutions, which aid the industries and companies in order to manage the large amounts of data generated optimize resources and minimize the energy costs incurred is encouraging the adoption of these solutions driving the growth of the market.
Furthermore, the initiatives being taken by the government bodies towards realizing the importance of reducing energy usage is bolstering the growth of the building analytics market further. For instance, an initiative called the "Smart Energy Analytics Campaign" has been launched by the US Department of Energy (DOE). The prime objective of the initiative is to increase the adoption of effective ways of managing energy and utilization of the information systems and devices, which can monitor energy resources and lead to an improvement in the overall performance of the building.
Geographically, North America and Europe are expected to have a notable market share owing to the fact that most of the buildings being designed and constructed are incorporating building analytics technology for reducing energy costs and achieving efficiency. The Asia Pacific region is poised to hold a significant due to advancements in technology and expansion of the infrastructure and construction activities due to the increasing urbanization.
Some of the major players covered as part of the report are Schneider Electric, Johnson Controls, IBM, Honeywell International, Inc., Siemens AG, Lucid Design Group (Division of Acuity Brands Technology Services, Inc.), BuildingIQ, ICONICS, Inc., and CopperTree Analytics among others.
This report segmented the building analytics market on the basis following terms
o By Offering
o By Deployment Model
o By Application
o Security Management
o Fault detection and Monitoring
o Energy management
o Parking management
o By End-User
o By Geography
o North America
o United States
o South America
o Middle East and Africa
o Saudi Arabia
o Asia Pacific
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-building-analytics-market
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting firm publishing market research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on the niche and latest technologies. We engage with key decision-makers and stakeholders across the value chain to provide clients with a detailed analysis and bird's-eye view of the market with complete market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.
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