The publication of our new IoT report comes at a time of unprecedented challenge for society. As March of 2020 progressed, it became increasingly obvious, that the rapid spread of COVID19 would go on to pose major challenges to all aspects of how we live and work. The Built Environment will play a huge part in how we rise to meet these challenges.
Fundamental changes to user interactions between commercial buildings and society will need to be supported by new technology solutions, that help maintain hygiene, facilitate social distancing, and maintain building user’s confidence in their places of work. The role of Smart Building Technologies in helping to mitigating the negative impacts of COVID19 is investigated fully in this report.
Challenges driven by the COVID19 crisis will make 2020 a tough year for IoT in smart commercial buildings market (BIoT), and we predict a drop in revenues compared to 2019.
However, over our forecast period (to 2025), we predict global growth of 11.6% in the best case, with overall market revenues rising from $42.8Bn in 2019 to $82.7Bn in 2025, versus 7.3% in the worst case, with more modest total revenues of $65.2Bn by 2025.
Significant revenue opportunities will still exist in 2020 and beyond, particularly in relation to data analytics to support increased demand for space utilization analytics. Commercial building owners and occupiers will need spatial data analytics to review their ongoing property requirements and drive down property related expenditure.
Some market frustration persists over the sheer number of competing platform solutions offering overlapping functionality. The 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.
While we expect consolidation in the wider platforms space, there remain considerable market opportunity for cloud-based software offerings for specialist applications or vertical markets. These can include vertical market specific analytics, third party service management or building data monetization.
Now in its 4th Edition and at 217 pages with 53 charts, this brand-new report provides valuable information to companies so they can improve their strategic planning exercises and look at the potential for developing their business through merger, acquisition and alliance. For more information, visit; https://memoori.com/portfolio/the-internet-of-things-in-smart-commercial-buildings-2020-to-2025/