This 4th edition of research into the market for the Internet of Things in Smart Buildings (BIoT) focuses on market sizing and opportunities for Smart Commercial Buildings. It provides a completely fresh market assessment of the industry based upon the latest information. Regions for this edition of the study are split into 5 categories representing the international markets of North America, Latin America, Europe, Asia Pacific and The Middle East & Africa.
The publication of this report comes at a time of unprecedented challenge for society. As March of 2020 progressed, it became increasingly obvious, that the rapid spread of the novel coronavirus COVID-19 would go on to pose major challenges to all aspects of how we live and work in societies across the globe. The Built Environment will play a huge part in how we rise to meet these challenges.
Section 5 of the report is dedicated to helping readers adapt to the new normal and prepare for the future by understanding what the market impacts may be. This section will help the reader make sense of the economic, supply chain, technological, ways of working, and building usage impacts of COVID-19. Fundamental changes to user interactions between buildings and the rest of society will need to be supported by new technology solutions, that help maintains hygiene, facilitate social distancing, and maintain building user trust and confidence in their places of work. The role of Smart Building Technologies in helping to mitigate the negative impacts of COVID-19 is investigated in section 6 of the report.
In order to account for market uncertainties and still provide valuable insight into the potential impact of the virus on BIoT technologies; In sections 9 and 10 of the report, the publisher considers best-case and worst-case scenarios, providing global and regional market forecasts to 2025. A series of inter-related challenges (driven by the COVID-19 crisis) will make 2020 a tough year for the market for BIoT in smart commercial buildings, and the publisher predicts a drop in revenues compared to 2019. However, over the forecast period (to 2025), the report predicts global growth of 11.6% in the best case, with overall market revenues rising from $42.8Bn in 2019 to $82.7Bn in 2025, versus 7.3% in the worst case, with more modest total revenues of $65.2Bn by 2025.
This latest assessment of the number of connected devices in operation in the commercial smart building's vertical is for the installed base of connected devices to grow from 1.7 Billion in 2020 to just under 3 Billion by 2025 representing a CAGR of 10.8%. Sensors and devices to track occupancy movement and analytics look set to experience some of the highest rates of growth over the forecast period at 14% per annum.
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