According to May 2018 research from Navigant Research, revenue for intelligent buildings from a solution perspective is poised to increase at a compound annual growth rate (CAGR) of 18.1 percent throughout 20217.
With an estimated revenue for intelligent building technologies of roundabout $15.1 billion in 2018 Navigant expects the market to reach $67.5 billion in 2027.
Confirming findings from the market Navigant Research states that customers in the commercial intelligent buildings space are looking for solutions doing more than building energy management, leading to the mentioned rebranding. Building management systems, Navigant says, are being integrated with greater analytics capabilities and remote accessibility.
In other words: intelligent buildings move away from BEMS as the foundation of the market and BMSs as once delivering the technical details of automation and controls (alone) as Navigant Research puts it.
In the digital transformation of the intelligent buildings industry, “where IT infrastructure, data, and analytics can combine to translate a complete data profile of facilities, systems, and operations into business metrics” the face of facility management and smart buildings is evolving with fast evolutions of technologies under the big IoT umbrella whereby it’s not just about the many IoT technologies themselves but also mentioned technologies on the level of analytics and cognitive to name a few.