A new report from Guidehouse Insights explores the global market for intelligent building solutions.
Though financial incentives have not been as compelling as hoped, intelligent buildings have now evolved from a solution for early adopters to the mainstream. According to a new report from Guidehouse Insights, intelligent building solutions revenue is anticipated to grow from $54.8 billion in 2023 to $119.8 billion by 2032, globally, at a compound annual growth rate (CAGR) of 9.1%.
Intelligent building systems fall into three application categories. The first applies AI to the management of the facility’s heating, ventilation, and air conditioning (HVAC) system to better anticipate needs for heating, cooling, and indoor air quality based on set priorities to lower costs, reduce carbon emissions, encourage employee productivity, and maintain employee comfort. The second is a building energy management system that offers insight into power usage within the facility and controls local power sources such as solar panels and local battery storage. The third connects multiple building automation systems (BAS) so they can operate as an integrated whole.
“The global market for intelligent building solutions will continue to experience strong growth as intelligent buildings move from a solution for early adopters into the mainstream,” says William Hughes, principal research analyst with Guidehouse Insights. “Over a certain amount of floor space, determining whether a new commercial building will have an intelligent building application is no longer much of a question. Intelligent buildings generate significantly better outcomes.”
Market trends for intelligent building solutions vary by building type and region. These trends reflect different needs for different building types across regions, and regional variations in economic prosperity levels, new building technology adoption rates, and regulatory mandates, according to the report.
The report, Intelligent Buildings, examines the global market for commercial intelligent building solutions that enable building owners, managers, and operators to manage and control major BAS. Market conditions, technology issues, and trends are analyzed to estimate the adoption and success of these systems. The report includes estimates of market size and revenue analyses from 2023 through 2032 for five global regions (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa), three segments, and eight building types. An executive summary of the report is available for free download on the Guidehouse Insights website.