Smart buildings

The Internet of Things in Smart Commercial Buildings 2022 to 2027

Market Prospects, Impacts & Opportunities

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Published Date

Q2 2022

Report Contents

279 Pages, 47 Charts, Graphics Pack, Spreadsheet

This Report is a new 2022 Study which Makes an Objective Assessment of the Market for Internet of Things Technologies, Networks and Services in Buildings 2022 to 2027

Our 5th edition of research into the market for the Internet of Things in Smart Buildings (BIoT) focuses on market sizing and opportunities for Smart Commercial Buildings. It provides a completely fresh market assessment of the industry based on the latest information. New for 2022, it INCLUDES at no extra cost, a spreadsheet containing the data from the report AND a graphics pack with high-resolution charts.

KEY QUESTIONS ADDRESSED

  • What is the size and structure of the global BIoT market? The report has an assessment of the global market size for hardware, software and services in 2021 and forecast to 2027. Market data is also broken down by geographic region, vertical and application type.
  • How many connected IoT devices have been installed in commercial smart buildings? The report estimates the installed base of IoT devices in commercial smart buildings from 2019 to 2027. This data is also broken down by geographic region, vertical and application type.
  • What are the main drivers for industry growth? The report assesses the main industry drivers, barriers to growth and key meta trends.
  • What does the competitive landscape look like? There is an analysis of the supply side structure of the market and commentary on M&A and investment trends.

The market sizing and forecasts presented in this report are based upon a custom market model and iterative research methodology. Our research builds on decades of experience in the evaluation of a wide variety of smart building-related markets with a particular focus on tracking and evaluating the performance of a variety of technology markets and their impact on commercial buildings.

BIoT Market recovery through 2021 was healthy, growing 21% to rise above the 2019 market total, at just over $47 billion. We forecast that the market will continue to grow at a healthy 12% CAGR, rising from $47.07 billion in 2021 to a forecasted $92.88 billion by 2027.

Our latest forecast sees the number of connected IoT devices installed in commercial smart buildings grow at a healthy 11.1% CAGR for the forecast period, rising from an estimated 1.264 billion in 2021 to over 2.5 billion by 2027.

WITHIN ITS 279 PAGES AND 47 CHARTS AND TABLES, THE REPORT FILTERS OUT ALL THE KEY FACTS AND DRAWS CONCLUSIONS, SO YOU CAN UNDERSTAND EXACTLY WHAT IS SHAPING THE FUTURE OF THIS GLOBAL IOT MARKET

  • There is an increasing industry push towards improving the value of data generated by the BIoT through improved systems integration, as opposed to limited siloed systems. To achieve this within buildings, a layered horizontal systems architecture is increasingly being advocated for, which is technology agnostic, by using open standards, open protocols, and non-proprietary solutions.
  • The BIoT digital divide. The pandemic has gone on to validate the BIoT investments of more forward-thinking building owners and operators. Effectively demonstrating the value of many previously existing BIoT solutions to deliver more resilient and efficient business operations. For example, remotely accessing building system networks and devices to monitor and configure performance during the pandemic proved challenging for those without the pre-requisite systems already in place. In many cases this led to energy being wasted on heating virtually empty buildings. Whilst office building occupancy dropped to near zero in some countries, energy use only fell by 10-15%.
  • The competitive landscape for BIoT remains incredibly complex and varied. The level of fragmentation we continue to observe in the market can act as a source of confusion and frustration for buyers, with many vendors of point solutions and platforms vying for attention. Leading platform solution providers are beginning to emerge, however, and the user base seems likely to coalesce around a more limited number of platform providers, with those unable to maintain a sustainable user base being forced to merge or withdraw from the market.
  • We are also seeing a greater degree of collaboration between the IT and OT worlds. A growing number of vendors are coalescing around cloud solutions provided by major IT companies such as Amazon and Microsoft. This should facilitate the development of “platform ecosystems”, where data exchange, innovation and supply chain partnering are simplified by common tools and means of data exchange.

Starting at only USD $2,500 (Single User License) this report provides valuable information to companies so they can improve their strategic planning exercises AND look at the potential for developing their business through mergers, acquisitions and alliances.

WHO SHOULD BUY THIS REPORT?

The information contained in this report will be of value to all those engaged in managing, operating and investing in commercial smart buildings (and their advisers) around the world. In particular, those wishing to understand exactly how the Internet of Things is impacting commercial real estate will find it most useful.

Table of Contents

  • Preface
  • The Executive Summary
    1. 1. Key Elements of the IoT
      • 1.1 Sensors & Connected Devices
      • 1.2 Network Communications
      • 1.3 Data Integration & Analytics
      • 1.4 Data Processing (Cloud / Edge)
      • 1.5 AI & Machine Learning
    2. 2. The Building Internet of Things (BIoT)
      • 2.1 Mapping the BIoT
      • 2.2 The BIoT Supply Chain
      • 2.3 BIoT Solution Architecture
      • 2.4 AI, Machine Learning, and the BIoT
    3. 3. The State of the Market
      • 3.1 IoT Device Projections
      • 3.2 IoT Devices in Smart Buildings
      • 3.3 Market Adoption
      • 3.4 BIoT Solution Maturity
    4. 4. Standards & Protocols
      • 4.1 Integration, Interoperability & Legacy Building Systems
      • 4.2 The Importance of Open Standards
      • 4.3 Connectivity Standards
      • 4.4 Smart Building Protocols
      • 4.5 Building Data Management
    5. 5. BIoT Market Applications
      • 5.1 Security & Access Control
      • 5.2 Energy Management & Environmental Control
      • 5.3 Air Quality
      • 5.4 Smart Operations & Maintenance
      • 5.5 Space, Occupancy & People Movement
      • 5.6 Hygiene, Health & Wellness
      • 5.7 Smart Lighting
      • 5.8 Tenant & Workplace Experience
      • 5.9 Fire & Safety
      • 5.10 Digital Twin
    6. 6. Smart Building IoT Platforms
      • 6.1 IoT Platforms
      • 6.2 The Platform Eco-System
      • 6.3 BIoT Platform Offerings
    7. 7. Vertical Market Analysis
      • 7.1 Commercial Offices
      • 7.2 Retail
      • 7.3 Hospitality
      • 7.4 Other Buildings
      • 7.5 New vs Existing Buildings
      • 7.6 Unlocking the Market for Smaller Buildings
    8. 8. The Global BIoT Market Forecasts
      • 8.1 BIoT Market Forecasts
      • 8.2 Market Revenue by Hardware, Software & Services
      • 8.3 Market Revenue by Vertical
      • 8.4 Market Revenue by Application
    9. 9. BIoT Market Analysis by Region
      • 9.1 Regional Comparisons
      • 9.2 North America
      • 9.3 Latin America
      • 9.4 Asia Pacific
      • 9.5 Europe
      • 9.6 Middle East & Africa
    10. 10. Meta Trend Analysis
      • 10.1 COVID-19 Impacts
      • 10.2 The War in Ukraine
      • 10.3 Supply Chain Issues
      • 10.4 Construction & CRE Investment Trends
    11. 11. BIoT Market Drivers
      • 11.1 Economic & Business Drivers
      • 11.2 Technology Drivers
      • 11.3 Energy Efficiency Drivers
      • 11.4 Health & Wellbeing Drivers
      • 11.5 Policy & Regulatory Drivers
      • 11.6 Standards & Certification
    12. 12. BIoT Challenges & Barriers
      • 12.1 Cybersecurity & Data Privacy
      • 12.2 Implementation Cost & ROI
      • 12.3 Data Related Challenges
      • 12.4 Knowledge & Skills
      • 12.5 Cultural & Governance Challenges
      • 12.6 Commissioning & Procurement Challenges
      • 12.7 Incentive Alignment
    13. 13. BIoT Challenges & Barriers
      • 13.1 The Competitive Landscape
      • 13.2 Partnering & Strategic Alliances
      • 13.3 Investment & M&A

List of Charts and Figures

  • Fig 1.1 – The OSI Reference Model for the IoT
  • Fig 1.2 – Leading Cloud Infrastructure Service Providers
  • Fig 1.3 – Leading Drivers for Edge IoT Adoption
  • Fig 2.1 – The Internet of Things in Smart Commercial Buildings 2022 v5.0
  • Fig 2.2 – The BIoT Supply Chain
  • Fig 2.3 – AI and Machine Learning Offerings by Use Case
  • Fig 3.1 – Global IoT Device Projections, Installed Base of Connected Devices (Bn)
  • Fig 3.2 – Installed Base of IoT Devices in Commercial Smart Buildings 2019 – 2027 (Millions)
  • Fig 3.3 – Commercial Smart Building IoT Device Projections by Market Vertical 2022 – 2027 (Millions)
  • Fig 3.4 – Commercial Smart Building IoT Devices by Application 2022 – 2027 (Millions)
  • Fig 3.5 – Commercial Smart Building IoT Devices by Region 2022 – 2027 (Millions)
  • Fig 3.6 – IoT Adoption Rates, % of Decision Makers
  • Fig 3.7 – IoT Adoption Rates by Country, % of Projects in Use Phase
  • Fig 3.8 – Sensor & Control Technology Penetration
  • Fig 3.9 – Commercial Buildings, Energy Efficiency Related Smart Controls Penetration, % of US Commercial Building Stock by Number of Buildings & Floorspace
  • Fig 3.10 – Smart Building Solution Maturity
  • Fig 6.1 – IoT Platform Functionality
  • Fig 6.2 – Digital Workplace Platforms by Category
  • Fig 7.1 – Offices, First Quarter Gross Leasing Volumes by Region
  • Fig 7.2 – Global Hotel Room Occupancy (2018 – 2022)
  • Fig 8.1 – The Global Market for the Internet of Things in Smart Commercial Buildings, $Bn, 2019 – 2027
  • Fig 8.2 – The Global Market for the Internet of Things in Smart Commercial Buildings, $Bn, 2019 – 2027, Breakdown by Hardware, Software & Services
  • Fig 8.3 – Market Breakdown by Hardware, Software & Services (% of Total Market)
  • Fig 8.4 – The Market for the Internet of Things in Smart Commercial Buildings, Market by Vertical, $Bn, 2021 – 2027
  • Fig 8.5 – The Market for the Internet of Things in Smart Commercial Buildings, Market by Application, $Bn, 2021 – 2027
  • Fig 9.1 – The Market for the Internet of Things in Smart Commercial Buildings, Market by Region, 2022 & 2027
  • Fig 9.2 – The Market for the Internet of Things in Smart Commercial Buildings, North America, 2021 – 2027 ($Bn)
  • Fig 9.3 – The Market for the Internet of Things in Smart Commercial Buildings, Latin America, 2021 – 2027 ($Bn)
  • Fig 9.4 – The Market for the Internet of Things in Smart Commercial Buildings, Asia Pacific, 2021 – 2027 ($Bn)
  • Fig 9.5 – The Market for the Internet of Things in Smart Commercial Buildings, Europe, 2021 – 2027 ($Bn)
  • Fig 9.6 – The Market for the Internet of Things in Smart Commercial Buildings, The Middle East & Africa, 2021 – 2027 ($Bn)
  • Fig 10.1 – Meta Trend Impact Analysis by Application & Vertical (2022 – 2027)
  • Fig 10.2 – The Economic Impact of COVID-19 on GDP Growth
  • Fig 10.3 – Average Peak Occupancy Rate in Global Offices Week by Week, August – November 2021
  • Fig 10.4 – Share of Transaction Volumes by Sector 2015 – 2021
  • Fig 10.5 – US Consensus Construction Forecasts
  • Fig 10.6 – Contribution to Global Construction Growth 2020 – 2030
  • Fig 10.7 – Share of Global Construction Markets 2020 – 2030
  • Fig 11.1 – Leading Drivers for IoT Adoption in Smart Places
  • Fig 11.2 – Average IoT Sensor Costs, 2004 – 2020, USD per Sensor
  • Fig 11.3 – Buildings Share of Global Final Energy & CO2 Emissions 2020
  • Fig 11.4 – Non-Residential Building Sector CO2 Emissions, Gigatonnes (Gt)
  • Fig 11.5 – Number of S&P 500 Companies Citing “ESG” on Earnings Calls
  • Fig 11.6 – Development of Electricity Prices for Non-Household Consumers, EU, 2008 – 2021
  • Fig 12.1 – Leading IoT Challenges
  • Fig 13.1 – Incumbent Smart Building Vendors and Their Partnerships with Startups

Companies Mentioned INCLUDE (but NOT limited to)

75F | ABB | Acuity Brands | Alibaba | Amazon | amBX | Assa Abloy | Atos | Axis Communications | Belimo | bGrid | Bosch | Brainbox AI | Buildings IoT | Canon | Carrier | CBRE | Cisco | Colliers | Cylon Controls | Dahua | Daikin | Dell | Delta Electronics | EcoEnergy Insights | FogHorn | Genetec | Google | HIKvision | Hitachi | Honeywell | HPE Aruba | Huawei | IBM | IDEMIA | Infogrid | Inpixon | Intel | J2 Innovations | JLL | Johnson Controls | Kaspersky | Kimberly Clark | KONE | Legrand | LMG | Lynxspring | Meta | Microsoft | Milestone Systems | Mitsubishi | Motorola Solutions | Nemetschek (Spacewell) | NVIDIA | Optergy | Oracle | Panasonic | PassiveLogic | Planon | Qualcomm | Renesas (Dialog Semiconductors) | Samsung | SAP | Schneider Electric | Siemens | Signify | Skanska | SpaceFlow | Spaceti | Switch Automation | Thoughtwire | Trane | Tridium | Ubiqisense | Vanti | Vasakronan | Verdigris | Verkada | Wattsense | Wiredscore | Yardi.

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