- Need for interpretation of data obtained from smart building
technologies for optimum functioning of building HVAC systems,
security systems spells growth
- Requisites to monitor inside temperatures of modern buildings
for comfort of occupants indirectly creates opportunities
ALBANY, N.Y., May 11, 2021 /PRNewswire/ -- Building
Analytics Market – Overview
In times when technological advances in commercial buildings
have hit a tipping point, 'analytics' is what is everyone is
interested in. In building spaces – from malls and residential
buildings to hospitals and commercial high rises – building
analytics provide specific advantages to different interest groups,
provided it is known what to expect from the system.
In fact, initial pilot projects to attain analytics have been
promising, and product developers are striving to improve
algorithms at faster rates than ever before. As more people are
getting interested to understand building analytics, it is
important to have a clear understanding what an analytics effort
offers, and what it should be doing for owners, operators, and
managers. Meanwhile, how business analytics are important for other
industries, in the same way building analytics is useful for
various stakeholders for best practices of building management
goals.
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Beyond the customary cost savings and energy efficiency
benefits, building analytics delivers both 'hard' benefits, and the
less quantifiable, yet highly valuable 'soft' benefits for
customers. If the hard benefits have to be summarized, they would
be;
- Increase the working life of building automation systems
- Provide the direction to prioritize tasks of maintenance,
comfort adjustments, and energy saving
- Direct the info to those for whom it is most relevant
Explore 330 pages of superlative research, current market
scenario, and extensive geographical projections. Gain insights
into the Building Analytics Market (Component: Software/Platform
and Services; Deployment: Cloud and On-premise; Application: Fault
Detection & Monitoring, Energy Management, Security Management,
Emergency Management, Network Management, and Others; and End User:
Residential, Commercial, and Government) - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031 at
https://www.transparencymarketresearch.com/building-analytics-market.html
For such tangible benefits, building analytics systems are now
mostly installed in all types of buildings. The continual
integration of avant-garde technology in building analytics systems
has led to improved efficiency and reliability of these systems.
With prospects of promising demand, the building analytics market
is estimated to exceed a valuation of US$
20.1 Bn by 2030.
Building Analytics Market – Key Findings of the
Report
Capability to Gauge Building Health, Energy Consumption
Remotely favors Deployment
Building analytics systems are invaluable for situations, such
as the ongoing COVID-19 that require remote monitoring of building
establishments. Building analytics systems are strongly connected
with each and every small process in the entire monitoring
activity, unlike traditional systems that can communicate with only
proprietary systems. Precisely, building analytics systems are
designed to integrate easily with open systems and provide alerts,
notifications even from predecessor systems. Fault detection and
diagnostics for estimation of energy requirements and cost savings
are also some features of building analytics systems. Collectively,
this favors growth in building analytics market.
Analyze global building analytics market growth in 30+ countries
including US, Canada, Germany, United
Kingdom, France,
Italy, Russia, Poland, Benelux, Nordic, China, Japan,
India, and South Korea. Request a sample of the
study
Use of Cloud Computing, Data analytics in the Construction
Sector creates Massive Opportunities
In recent years, complex workflows and challenging environments
in the construction sector have necessitated the use of data
analytics and artificial intelligence applications. Earlier, SaaS
solutions were used in the construction sector to use the
leverage the potential of data analytics and cloud computing. This
has attracted contractors in the construction sector to invest in
cloud computing technologies. Applications of cloud computing in
the building analytics market include powerful data processing,
data storage, advanced analytics, connected job sites, and improved
security.
Artificial intelligence and machine learning are some other
next-gen technologies used in the construction sector integrated
into building analytics systems. With the exponential growth of the
construction sector, the building analytics market is at gains.
Need to Optimize Energy for Sustainability fuels
Growth
Building analytics systems help to obtain insightful data to
optimize the energy performance of a facility and eliminate any
undue use. This further helps to lower energy cost, improve
equipment life, and comfort of occupants of the facility.
Meanwhile, data for building analytics is obtained using a gamut of
processes, including building management systems, Internet of
Things edge devices, networked sensors, and integrated workplace
management systems.
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Building Analytics Market – Growth Drivers
- Need to interpret and review information collected from smart
building technologies and smart building analytics to attain best
efficiency and productivity of HVAC systems and security systems of
buildings fuels growth.
- Besides maintenance and upkeep, the requisites to monitor
inside temperatures of modern buildings for the comfort of
occupants, which involves deployment of advanced lifecycle managed
services, indirectly translates into demand.
Building Analytics Market – Key Players
- Carrier Corporation
- BuildingIQ
- CIM Environmental Pty Ltd
- Crestron Electronics Inc.
- Eaton Corporation plc
- General Electric Company
- Honeywell International Inc.
- ICONICS Inc.
- Lutron Electronics Co. Inc.
- Schneider Electric SE
- 4M S.A.
- BuildingLogiX
- CopperTree Analytics Inc.
- Delta Electronics Inc.
- EnergyCAP Inc.
- GridPoint
- IBM Corporation
- Johnson Controls International Plc.
- PointGrab Inc.
- Siemens AG
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