Memoori’s new research report is an objective assessment of the market for Internet of Things Technologies, Networks and Services in Commercial Buildings from 2016 to 2021.
The report focuses on market sizing analysis and a comprehensive assessment of the competitive landscape. It also provides crucial insights and detailed analysis of the technology enablers, drivers and barriers shaping the market.
Memoori 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%.
Of the 4 markets that make up the BIoT, Enablement and Connectivity related services will be the early winners as companies work hard to develop telecoms infrastructures / bandwidth that can handle the increasing volumes of data they are generating. As these elements become more commoditized, an increasing proportion of BIOT revenue will come from Big Data & Cloud Based Software & Services; which will grow at a CAGR of 26.3% to $32Bn by 2021.
This is an exciting time for Smart Commercial Buildings as Internet of Things (IoT) technology converges with Building Automation Systems to create the Internet of Things in Buildings (BIoT). This development is set to fundamentally change the way we interact with the built environment and will create huge opportunities for the most forward-thinking players in the sector.