Market Overview:

Building Analytics Platform market size is estimated to reach $22.4 billion by 2030, growing at a CAGR of 14.1% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Building Analytics Platform Market – By Building Type (Residential Buildings, Commercial Buildings (Offices, Retail, Hospitals, Hotels, Others), Industrial Buildings, Government Buildings, Public Places, Others), By Component (Software (Cloud-Based, On-Premises), Services (Professional Services, Managed Services), By Technology (IoT (Internet of Things), Artificial Intelligence (AI), Machine Learning (ML), Big Data Analytics, Cloud Computing, Edge Computing, Others), By Application (Energy Management, Security Management, Infrastructure Management, Network Management, Workforce Management, Asset Management, Emergency Management, Fault Detection and Monitoring, Parking Management, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”.  The growth of the Building Analytics Platform Market is fuelled by the increasing predominance of smart buildings, increasing demand for energy efficiency and integration of artificial intelligence (AI) and machine learning (ML) in Building Analytics Platform. 

North America accounted for significant market share in 2023:

North America held the largest Building Analytics Platform market share with 38% of the overall market in 2023. This region dominates the Building Analytics Platform market driven by rapid urbanization, increasing construction activities, and the widespread adoption of smart city initiatives. This growth is fueled by the region's commitment to modernizing infrastructure, enhancing energy efficiency, and integrating advanced technologies into urban development projects.

Building Analytics Platform Market Growth Drivers:

Increasing Demand for Energy Efficiency is Driving the Growth of the Building Analytics Platform Market:

Energy efficiency is a driving force in the building analytics platform market. As energy costs rise and environmental concerns grow, owners and managers seek to reduce consumption and carbon footprints. Building analytics offer insights into energy usage patterns, identifying inefficiencies in HVAC, lighting, and other systems. Real-time data and advanced algorithms suggest actionable measures, like adjusting temperature based on occupancy or implementing energy-saving schedules. Regulatory requirements and sustainability certifications, such as LEED, further promote energy-efficient practices. Building analytics are essential for compliance and operational excellence. As energy efficiency gains prominence, demand for advanced solutions continues to rise.

Integration of Artificial Intelligence (AI) and Machine Learning (ML) is Propelling the Growth of the Building Analytics Platform Industry:

AI and ML integration in building analytics platform revolutionizes facility management. Algorithms analyze extensive data from diverse systems, spotting patterns and anomalies beyond human capability. Predictive maintenance anticipates equipment failures, reducing downtime and costs. Energy management benefits from AI learning occupancy patterns, optimizing HVAC and lighting for significant savings. Real-time responses adjust temperature and lighting based on occupancy, enhancing comfort and efficiency. The adoption of AI and ML is fueled by IoT devices and sensors, providing essential data for these advanced algorithms.

Scope of Report:

Report Metric

Details

Market size available for years

2022–2030

Base year considered

2023

Forecast period

2024–2030

Forecast units

Value (USD)

Segments covered

Building Type, Component, Technology, Application, and Region

Geographies covered

North America (US, Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Netherlands and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).

Companies covered

Key 10 players covered, include Honeywell International Inc., IBM Corporation, Siemens AG, Schneider Electric, Delta Electronics, Inc., Johnson Controls International PLC, ICONICS Inc., General Electric Company, Crestron Electronics, CopperTree Analytics.

 

Recent Developments:

  • In April 2023, Honeywell introduced an upgraded version of their Forge platform, which integrates advanced analytics and AI to enhance building performance and energy efficiency.
  • In May 2023, Johnson Controls rolled out a new version of its OpenBlue platform, which includes improved data analytics features to optimize building operations and sustainability.

Building Analytics Platform Market: Competitive Landscape

Key companies profiled in the Building Analytics Platform Market are Honeywell International Inc., IBM Corporation, Siemens AG, Schneider Electric, Delta Electronics, Inc., Johnson Controls International PLC, ICONICS Inc., General Electric Company, Crestron Electronics, CopperTree Analytics.


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IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.  

IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.

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Mr. Venkat Reddy
IndustryARC
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