This IDC Energy Insights report provides updated projections of investment in smart building solutions globally. After several years of slower-than-expected growth, the market is expected to grow rapidly as there is increasingly broad market awareness of the business values generated by deploying smart building solutions. This global smart buildings forecast projects spending to grow from $6.3 billion in 2013 to $21.9 billion in 2018 (a 28.4% CAGR).
"As businesses recover following the Great Recession, building owners continue to focus on managing their operational energy costs and risks. Often, gathering building data is not the issue; rather, combining, interpreting, and prioritizing that data is becoming the key challenge. Smart building solutions are valuable technologies for deploying energy management strategies that generate operational efficiencies, cost containment, and sustainability benefits that appeal to key stakeholders across the chain of command in building management," said Jill Feblowitz, vice president, IDC Energy Insights.