This research evaluates smart building technologies, players, and solutions. The report analyzes smart buildings challenges and opportunities, assesses market potential, and provides accompanying smart buildings market sizing, globally as well as regionally, and by market segment for 2021 – 2026.
It includes an analysis of technologies supporting smart building automation, IWMS, and smart workplace applications and services. Smart building technology integration areas addressed within the report include 5G, AI, data analytics, and edge computing.
This research also evaluates the smart cities market including leading vendors and strategies (such as a single vs. multi-vendor centric approach), infrastructure, solutions, applications, and services. The report analyzes market factors driving solution adoption, technology readiness and fitness for use, and other considerations.
This research also evaluates digital twinning technology, solutions, use cases, and leading company efforts in terms of R&D and early deployments. The report assesses the digital twin product and service ecosystem including application development and operations. The report also analyzes technologies supporting and benefiting from digital twinning.
Select Research Findings:
- Smart building automation software and systems will reach $19.3B in North America by 2026
- AI-enabled IoT (AIoT) systems will drive IWMS efficiencies and automation to an entirely new level by 2026
- Smart facility water management systems will represent an $723M market opportunity in Europe by 2026
- The key to success in the smart building market is to intelligently integrate data, systems, processes, and assets for enterprise and industrial operations
- Global Asset Twinning, Component Twinning, System Twinning, Process and Workflow Twinning in support of smart cities will reach $3.77B by 2026
- Global deployment of 5G, AI, and IoT is substantially focused upon smart city solutions, representing 65%, 35%, and 55% of all total global investment for each respective technology
Smart buildings provide improved facilities access control (security alarm, intrusion detection and overall surveillance), HVAC, lighting and other environmental controls, energy management, and overall building control. In addition, building intelligence is increasingly gained through integration of sensors, actuators and other IoT systems elements to capture data to derive AI-based data analytics.
A digital twin is a virtual object representation of a real-world item in which the virtual is mapped to physical things in the real-world such as equipment, robots, or virtually any connected business asset. This mapping in the digital world is facilitated by IoT platforms and software that is leveraged to create a digital representation of the physical asset. The digital twin of a physical asset can provide data about its status such as its physical state and disposition. Conversely, a digital object may be used to manipulate and control a real-world asset by way of teleoperation.
Digital twin solutions in smart cities are largely focused on improving the intelligence of buildings. Specific twinning solutions in this regard include: Asset Twinning, Component Twinning, System Twinning, Process and Workflow Twinning. Mind Commerce sees the digital twins market reaching $3.77B for these solution areas in total by 2026.
- Commercial building network system designers
- IoT network system designers for commercial buildings
- Components manufacturers for IoT network systems and interfaces
- Contractors that install IoT network systems in commercial buildings
- Systems integrators for the IoT network systems in commercial buildings
- Facilities managers responsible for commercial building networks and systems
- Identify the market drivers for Smart Cities
- Understand the technologies supporting Smart Cities
- Understand the impact of smart cities on ICT evolution
- Identify smart buildings market challenges and opportunities
- Understand the smart buildings marketplace including players and solutions
- Identify how key technologies such as AI and IoT support intelligent structures
- Identify how integrated workplace management systems support smart buildings
- Understand how virtual objects (software programs) function as an abstract of real-world things
- Understand how virtual reality will support digital twinning for advanced simulations and control