Beyond Customary Energy and Cost Saving Advantages, both 'Hard' and 'Soft' Benefits Extend Immense Growth Opportunities in Building Analytics Market; Growth Trajectory projected at Stellar ~15% CAGR from 2021 - 2031 - TMR - Seite 2

For such tangible benefits, building analytics systems are now mostly installed in all types of buildings. The continual integration of avant-garde technology in building analytics systems has led to improved efficiency and reliability of these systems. With prospects of promising demand, the building analytics market is estimated to exceed a valuation of US$ 20.1 Bn by 2030.

Building Analytics Market – Key Findings of the Report

Capability to Gauge Building Health, Energy Consumption Remotely favors Deployment

Building analytics systems are invaluable for situations, such as the ongoing COVID-19 that require remote monitoring of building establishments. Building analytics systems are strongly connected with each and every small process in the entire monitoring activity, unlike traditional systems that can communicate with only proprietary systems. Precisely, building analytics systems are designed to integrate easily with open systems and provide alerts, notifications even from predecessor systems. Fault detection and diagnostics for estimation of energy requirements and cost savings are also some features of building analytics systems. Collectively, this favors growth in building analytics market.

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Use of Cloud Computing, Data analytics in the Construction Sector creates Massive Opportunities

In recent years, complex workflows and challenging environments in the construction sector have necessitated the use of data analytics and artificial intelligence applications. Earlier, SaaS solutions were used in the construction sector to use the leverage the potential of data analytics and cloud computing. This has attracted contractors in the construction sector to invest in cloud computing technologies. Applications of cloud computing in the building analytics market include powerful data processing, data storage, advanced analytics, connected job sites, and improved security.