Building Analytics Market Segmentation:
Application Segment Analysis
The fault detection and diagnostics segment is projected to account for a leading revenue share of 42.6% by the end of 2035. A major driver of the segment is the surging reliance of energy managers and building operators on FDD tools to identify energy efficiency and system faults proactively. Additionally, the users benefit from automated diagnostics, which reduce downtime considerably whilst also optimizing the overall energy consumption. These trends converge with a growing push to adhere to sustainability targets as well as regulatory guidelines, fueling the overall market growth.
Component Segment Analysis
The software segment is projected to capture the largest market share throughout the study period. Modern buildings are key users of software solutions as they act as the core enabler of data-driven decision-making. Many buildings highly invest in actionable analytics solutions for operational effectiveness. Facility managers and building owners also use these technologies for energy optimization, fault detection, and real-time monitoring. In May 2022, ThoughtSpot introduced new editions of its analytics tool for individuals and teams to make the Modern Analytics Cloud accessible to everyone. These editions allow companies of any size to use data for their business, paying only for what they use instead of buying expensive, unused licenses from traditional analytics companies. This indicates that continuous innovations are anticipated to fuel the application of software solutions.
End user Segment Analysis
The residential segment is estimated to account for a high market share through 2035, due to the surge in smart homes. The growing energy efficiency requirements and consumer-driven demand for comfort and cost-saving technologies are accelerating the adoption of building analytics. The Association for Smart Home Professionals projects that the U.S smart home market was estimated at USD 29 billion in 2024. Residential buildings are prime adopters of connected devices, including smart meters, HVAC systems, lighting controls, and home automation platforms.
Our in-depth analysis of the global market includes the following segments:
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