Global Smart Buildings in Smart Cities Market to Top $10 Billion by 2026

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A new report from Navigant Research evaluates the relationship between smart building technologies and smart city goals, providing an analysis of market issues and global forecasts through 2026.

In major cities, buildings are responsible for approximately 30% of global greenhouse gas emissions and 70% of energy consumption. To better align with climate and sustainability goals, and to help improve public health and safety, smart cities are looking to smart building technologies to drive impactful changes in facilities management.

“There is a growing market opportunity at the intersection between the smart city concept and smart building technologies. Smart city agendas can encourage smart buildings market growth through regulations, incentive programs, and creative initiatives like open data platforms,” says Christina Jung, research analyst at Navigant Research. “Large volumes of data from benchmarking and reporting disclosure, as well as building management systems from public buildings, can be shared directly with the public, empowering city inhabitants with real-time information about their surroundings.”

According to the report, smart buildings can also become part of urban infrastructure to aid government operations and services by means of building security and motion sensors; remote shutdown of electrical equipment; temperature and humidity sensors for libraries and other sensitive environments; and building door and window sensors associated with alarm systems for security.