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Multi-Billion IoT in Smart Commercial Buildings Market 2016 to 2021
September 30, 2016 | Business WireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "The Internet of Things in Smart Commercial Buildings 2016 to 2021" report to their offering. Most recent assessment indicates that the underlying BAS without connectivity market saw sales of global building systems totalling $94.6Bn in 2015.
Sales of Building Energy and Control Systems (BECS) made up the largest proportion of the market, with sales of $30.9Bn, followed closely by physical security with sales of $27.2Bn, and Fire Detection & Safety with $21.9Bn. We forecast that the market will grow at a combined 7.2% CAGR through to the end of 2016, with the strongest growth being experienced in the lighting control area, at 13% growth.
Report Highlights
- The report projects that the combined global market for the Internet of Things in Buildings (BIoT) will grow significantly over the forecast period, rising from $23.5Bn in 2015 to $75.5Bn by 2021, at a CAGR of 20.7%. Growth in data volumes generated by the IoT will still drive significant investments; as organisations struggle to maintain the network capacity and bandwidth requirements to effectively transmit all this new data.
- We see the market for Connectivity Services and Related Hardware growing from a 2015 value of $8.8Bn to over $18.4Bn by 2021, a CAGR of 13.1%. while will see the Enablement Hardware segment's value grow from $6.8Bn in 2015, to $15.5Bn in 2021, which represents a CAGR of 14.7%.
- The Professional Value Add Services market is projected to grow at a rapid 20.7% CAGR from only $3.1Bn in 2015 to $9.6Bn by 2021. And finally, the Big Data and Cloud Based Software & Services market was valued at nearly $8Bn by the end of 2015 and is projected to grow at an impressive CAGR of 26.3% CAGR to $32Bn by 2021.
- We monitored a total of 597 different deals of different types from 2010 to the end of 2015. Over 63% of these deals (379) were venture capital investments, but we also picked up details of over 200 acquisitions, 4 mergers, 3 IPOs and 2 management buyouts, all of which indicates there is also a thriving demand for both new innovation and expansion via M&A in the BIoT space.
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