Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Building Analytics Market size was valued at USD 12.15 billion in 2024 and is set to exceed USD 30 billion by 2037, registering over 7.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of building analytics is evaluated at USD 12.89 billion.
The growth of the market can be attributed to the increasing demand for real-time monitoring for buildings, especially in terms of energy consumption, and fault detection. Increasing urban population, along with increasing emergence of smart buildings, are another major factor estimated to drive the market growth. According to the data by the World Bank, 56.15% of the total population, around 4.352 billion individuals lived in urban settlements in 2020. Moreover, government initiatives promoting smart buildings, energy optimization in government buildings, and development of residential infrastructure are projected to boost the market growth. In addition to this, increasing penetration of technologies, including, IoT, cloud computing, artificial intelligence and automation, are estimated to promote the market growth.
Building Analytics Sector: Growth Drivers and Challenges
Growth Drivers
- Government Initiatives to Promote Energy Optimization
- Growing Penetration of Cloud-based IoT Services
- Increasing Emergence of Smart Buildings
Challenges
- Lack of Awareness About Building Analytics Software
- High Cost of Implementation
Building Analytics Market: Key Insights
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
7.2% |
|
Base Year Market Size (2023) |
USD 11.33 billion |
|
Forecast Year Market Size (2036) |
USD 27.97 billion |
|
Regional Scope |
|
Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.
Customize this ReportBuilding Analytics Industry - Regional Synopsis
North America Market Statistics
North America industry is anticipated to account for largest revenue share by 2037, propelled by growing construction industry, due to urbanization and emergent smart buildings in the region. According to the statistics by Bureau of Economic Analysis, in the first quarter of 2021, construction gross output of the United States amounted to USD 1,875.3 billion. Moreover, increasing awareness for energy optimization among the masses, and government initiatives for power management and monitoring, are estimated to further boost the market growth in the region.
APAC Market Analysis
The market in the Asia Pacific region is estimated to witness highest CAGR over the forecast period, on account of infrastructural development in countries, such as, India, Vietnam, South Korea, and Indonesia along with the increasing adoption of IoT in the region. Moreover, governments of these nations are taking various initiatives for the conservation of energy and sustainable developments of their respective nations. One such initiative is the formation of Bureau of Energy Efficiency by the government of India for overlooking the optimization of energy utilization in the country.
Companies Dominating the Building Analytics Landscape
- Lutron Electronics Co., Inc
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- NOVEDA Technologies, Inc.
- PointGrab Inc.
- BuildingIQ
- GridPoint, Inc.
- SitelogIQ
- Delta Electronics, Inc.
- BuildingLogiX
- Crestron Electronics, Inc.
- Enel X North America, Inc
In the News
Author Credits: Abhishek Verma
- Report ID: 3258
- Published Date: Dec 26, 2024
- Report Format: PDF, PPT
