Top 7 Growth Opportunities in Smart Buildings, 2024

Top 7 Growth Opportunities in Smart Buildings, 2024

Decarbonization and Occupant Experience Enhancement to Shape Future Growth Potential of Smart Buildings

RELEASE DATE
15-Dec-2023
REGION
Global
Deliverable Type
Market Research
Research Code: PFAB-01-00-00-00
SKU: EN_2023_455
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SKU
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$2,450.00
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Description

The COVID-19 pandemic has accelerated the need to automate buildings, presenting opportunities to increase digitalization and underscoring the need to decrease energy consumption in buildings. This has resulted in a spurt in demand for smart building management solutions. The Internet of Things (IoT), artificial intelligence (AI), and cloud technologies continue to make buildings smarter. These technologies are causing significant disruptions, influencing how buildings are designed, operated, and managed and shifting roles away from traditional skills toward technological expertise and collaborative efforts. Market trends are driving the need for new investments and business model changes while focus gradually shifts from providing individual products to offering holistic occupant experiences.

In this study, Frost & Sullivan reveals the top 7 trends for smart building industry participants to look out for in 2024. Major trends relate to decarbonization and building occupant experience, and overall the smart building industry will remain technology-driven. Industry participants should explore and leverage the growth opportunities highlighted in this research and expand their portfolios in the listed areas to create new revenue streams and solidify growth in this highly competitive field.

Author: Viswesh Vancheeshwar

Table of Contents

Strategic Imperatives

Top 7 Growth Opportunities

Growth Opportunity 1: Digitalized Management to Drive Development of Intelligent Buildings

Growth Opportunity 2: Adoption of Advanced Building Maintenance Solutions to Gain Momentum

Growth Opportunity 3: Health and Wellness Solutions to Enhance Occupant Experience

Growth Opportunity 4: Advanced Building Controls to Support Energy Efficiency and Sustainability Targets

Growth Opportunity 5: Digital Twin to Enhance Building Operations and Management

Growth Opportunity 6: New Business Models to Accelerate Transformation of Smart Buildings

Growth Opportunity 7: Cybersecurity Solutions to Enhance and Protect Smart Building Systems

Next Steps

Legal Disclaimer

The COVID-19 pandemic has accelerated the need to automate buildings, presenting opportunities to increase digitalization and underscoring the need to decrease energy consumption in buildings. This has resulted in a spurt in demand for smart building management solutions. The Internet of Things (IoT), artificial intelligence (AI), and cloud technologies continue to make buildings smarter. These technologies are causing significant disruptions, influencing how buildings are designed, operated, and managed and shifting roles away from traditional skills toward technological expertise and collaborative efforts. Market trends are driving the need for new investments and business model changes while focus gradually shifts from providing individual products to offering holistic occupant experiences. In this study, Frost & Sullivan reveals the top 7 trends for smart building industry participants to look out for in 2024. Major trends relate to decarbonization and building occupant experience, and overall the smart building industry will remain technology-driven. Industry participants should explore and leverage the growth opportunities highlighted in this research and expand their portfolios in the listed areas to create new revenue streams and solidify growth in this highly competitive field. Author: Viswesh Vancheeshwar
More Information
Deliverable Type Market Research
Author Viswesh Vancheeshwar
Industries Environment
No Index No
Is Prebook No
Keyword 1 Smart Building Industry
Keyword 2 Building Technology Forecast
Keyword 3 Smart Building Technology Trends
Podcast No
WIP Number PFAB-01-00-00-00