Digital Transformation of the Australian Built Environment, Forecast to 2024

Digital Transformation of the Australian Built Environment, Forecast to 2024

Emergence of Cloud, IoT, and Analytics Creates New Challengers in the Building Management System Market

RELEASE DATE
20-Mar-2018
REGION
Asia Pacific
Research Code: P9A2-01-00-00-00
SKU: EN01037-AP-MR_21397

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Description

While the Australian market for digital built environment solutions is growing rapidly, it is still under-penetrated, particularly in the residential sector. Solutions that improve the energy efficiency of built environments have found the highest acceptance among asset owners due to their ability to demonstrate a clear return on investment (RoI). Asset monitoring solutions that can extend the life of assets and reduce maintenance costs by employing predictive analytics are expected to grow rapidly. While the market is still dominated by on-premise, stand-alone systems, built environment solutions are increasingly moving to the cloud and solution providers? are adopting a platform approach. Enabling users to make the most of their respective built environment solutions, either through improved user interface or training, is a critical success factor for competitors. Overall, the ease of use, customised data offerings, clearly defined 'citizen' / user involvement, vendor neutral offerings, and competitive pricing are considered the factors critical for success in this market.

This study analyses the drivers and restraints of digital transformation in the built environment, the size and growth of the building management systems market, as well as the segmentation of this market by building automation systems, energy & environmental performance, and emergency and security automation systems. It also covers the commercial, institutional, and residential segments.

Apart from outlining the competitive structure and competitive tools, this study presents disruptive technologies and emerging use cases that are gaining traction in the Australian market. Australia’s rate of urbanisation is expected to further rise, fuelling the need for digital solutions in urban built environments. Particularly, the rise in the value of non-residential buildings creates a fertile market for digital enhancements that enable further energy savings and ease of maintenance. High property prices due to the recent property boom and rising energy costs are justifying the increased investment in built environment technologies. In addition, energy efficiency is becoming a priority across sectors. In terms of end-use, the number of flexible workspaces has been growing exponentially in Australia and there is a similar growth trend in remote working practices. On a broader level, there are higher expectations among building occupants in terms of the convenience, green credentials, and the 'smarts' of work environments. Federal, state, and local government initiatives and star ratings for buildings are expected to support further growth. However, ambiguous RoI and funding challenges, concerns over security, as well as issues regarding the interoperability of complementary systems continue to restrain the market.

Table of Contents

Executive Summary

Research Scope and Definitions

Market Definitions

Market Definitions (continued)

When the Smartest in the Room..is the Room Itself

Smart Digital Urban Infrastructure Solutions—Outcomes

What is the Aim of Making a Built Environment Smart?

What is a Smart Built Environment?

Evolution to Smart Built Environment

Technology Convergence Enabling the Digital Transformation of Urban Built Environments

Roadmap for Smart Buildings

Mega Trend Impact on the Built Environment

Mega Trend Impact on the Built Environment (continued)

Highly Urbanised Population

Internet Penetration

Regained Momentum in Non-Residential Construction

Property Trends

Energy Efficiency

Increased Crime Rates and Terrorist Threats

Digital Solution Adoption in Australian Urban Built Environment

Large Urban-centred Services Sector

The Change in the Australian Workforce and Workspace

Technology Ecosystem of Smart Urban Built Environments

The Internet of Things—Smart Sensors

IoT Networks—Communication Protocol

Bandwidth vs Range of Communication Protocol

IoT and a New Era of Challenges

Security—Preventing Data Breach

Analytics

Dimensions of Big Data and its Value Addition for Building Management

Technology Trends—Big Data Analytics (BDA)

Cloud Technology Components and Benefits

Cloud Computing Trends

Impact of Key Market Drivers

Market Drivers—Rising Energy Cost

Market Drivers—Prioritising Environmental Impact Minimisation

Market Drivers—Maturing Technologies

Market Drivers—Increased User Expectations

Market Drivers—Government Initiatives

Impact of Key Market Restraints

Market Restraints—Measuring Return on Investment and User Ability to Maximise Benefits

Market Restraints—Security Concerns and Interoperability Issues

Market Size and Growth

Forecast Discussion

Expenditure on Digital Solutions in Buildings

Smart Buildings—Why and How it Works

Smart Buildings—Why and How it Works (continued)

Building Management System Market by Commercial, Institutional and Residential

End Market Analysis—Commercial Buildings

End Market Analysis—Institutional Buildings

End Market Analysis—Residential Buildings

Industry Competitive Structure

Competitive Structure (continued)

Buildings Alive

Hux Connect

BuildingIQ

Quantify Technology (QT)

Data 61 CSIRO

Newcastle Smart City Strategy

Stucco Cooperative Living

Barangaroo Towers

Virtual Building Management Dashboards—Barangaroo Towers

Sydney Smart City Strategy

South Australian Health and Medical Research Institute

The Shift towards X-as-a-Service Business Model:Vivid Technology

Smart Lighting from Honeywell and Vivid Technology

Growth Opportunities—‘Retrofittable’, Scalable, Open Solutions

Growth Opportunities—Asset Monitoring and Energy Efficiency

Growth Opportunities—Training and AI

Futuristic Business Models in Buildings Industry

Strategic Imperatives for Success and Growth

Conclusions

Legal Disclaimer

List of Exhibits

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
While the Australian market for digital built environment solutions is growing rapidly, it is still under-penetrated, particularly in the residential sector. Solutions that improve the energy efficiency of built environments have found the highest acceptance among asset owners due to their ability to demonstrate a clear return on investment (RoI). Asset monitoring solutions that can extend the life of assets and reduce maintenance costs by employing predictive analytics are expected to grow rapidly. While the market is still dominated by on-premise, stand-alone systems, built environment solutions are increasingly moving to the cloud and solution providers? are adopting a platform approach. Enabling users to make the most of their respective built environment solutions, either through improved user interface or training, is a critical success factor for competitors. Overall, the ease of use, customised data offerings, clearly defined 'citizen' / user involvement, vendor neutral offerings, and competitive pricing are considered the factors critical for success in this market. This study analyses the drivers and restraints of digital transformation in the built environment, the size and growth of the building management systems market, as well as the segmentation of this market by building automation systems, energy & environmental performance, and emergency and security automation systems. It also covers the commercial, institutional, and residential segments. Apart from outlining the competitive structure and competitive tools, this study presents disruptive technologies and emerging use cases that are gaining traction in the Australian market. Australia’s rate of urbanisation is expected to further rise, fuelling the need for digital solutions in urban built environments. Particularly, the rise in the value of non-residential buildings creates a fertile market for digital enhancements that enable further energy savings and ease of maintenance. High property price
More Information
No Index No
Podcast No
Author Ivan Fernandez
Industries Environment
WIP Number P9A2-01-00-00-00
Is Prebook No
GPS Codes 9343-A4,9596,GETE