The Building Analytics Market research report 2021 provides a basic overview of the industry including definitions, classifications, applications, and industry chain structure. The Building Analytics market report provides information regarding market size, share, trends, growth, cost structure, Building Analytics market competition landscape, market drivers, challenges and opportunity, capacity, revenue, and forecast 2026.
The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, supervisory scenario & technological growth. This report also includes the overall and comprehensive study of the Building Analytics market with all its aspects influencing the growth of the market. This report is an exhaustive quantitative analysis of the Building Analytics industry and provides data for making strategies to increase market growth and effectiveness. The report covers the post-COVID-19 (Corona Virus) impact on various regions and major countries and on the future development of the industry is pointed out.
The Building Analytics Market is expected to grow at a CAGR of 14.7% over the forecast period 2021 to 2026.
The report presents the market competitive landscape and a corresponding detailed analysis of the major vendors/key players in the market. Top Companies in the Global Building Analytics Market: Schneider Electric, IBM Corporation, Johnson Controls International Plc, Honeywell International Inc., Siemens AG, BuildingIQ, General Electric Company, CopperTree Analytics Inc., ICONICS Inc., Delta Electronics, Inc., BuildPulse Inc., ENGIE Insight Services Inc., GridPoint Inc., Noveda Technologies Inc., Crestron Electronics, and others.
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Key Market Trends
Energy Management Application to Hold the Largest Market Size
– The energy management utilization is supposed to dominate the overall building analytics market in terms of share and growth rate, as it is predominantly getting its use in all building facilities to decrease excessive energy consumption across premises. The HVAC systems and lighting control systems are important consumers of energy; hence the purpose of building analytics solution assists in interpreting the data generated from various equipment and facility systems and stimulate the equipment performance across the facility.
– According to Constellation Energy Resources, LLC, the United States spends about USD 400 billion on energy for commercial and industrial buildings, with USD 120 million on un-used energy every year. At a 10% reduction, with the application of Energy Management, the USA saves nearly USD 40 billion each year on energy costs and reduces greenhouse gas emissions by the equivalent of 49 million motor vehicles.
APAC to Record the Highest Growth Rate
– The Asia Pacific is a crucial region for the building analytics market and is projected to grow at a significant rate during the forecast period. The growing population, especially in India and China, and hefty governmental investment in the manufacturing and construction sector, are anticipated to drive the demand for the market. These countries comprise over 40% of the globe, and building analytics in this region will grow at a very steep rate.
– Venders in APAC are spending on R&D activities to produce technologically advanced building analytics solutions. The prompt modernization and progress in the APAC region’s construction activities have stimulated the growth of automatic centralized control of the HVAC systems installed in the buildings, eventually leading to the growth of the building analytics market in APAC.
Recent developments in the market are –
– Feb 2020 – Siemens enabled holistic energy data analysis in buildings. The latest energy monitoring software can now be fully integrated into the Design CC building management system, making the electrical infrastructure an integral part of smart buildings that are connected via the Internet of Things (IoT).
– June 2019 – Honeywell announced it launched a new category of software, Enterprise Performance Management for Operations Technology, that will improve the way a variety of companies collect, analyze and act on data from their operations. The software solution, called Honeywell Forge, will leverage the company’s more than 100 years of expertise in asset and process control technology and will transform the way work gets done by owners and operators of buildings, airlines, industrial facilities, and other critical assets and infrastructure.
What are the market factors that are explained in the report?
– Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
– Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
– Analytical Tools: The Building Analytics Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. Analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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