Smart buildings to reach 115 million in 2026: Juniper Research
Juniper Research found that the global shipments of sensors used in smart buildings will exceed 1 billion annually in 2026
The number of buildings globally deploying smart building technologies will reach 115 million in 2026, an increase from 45 million in 2022, according to a recent study by Juniper Research.
The consultancy firm noted that this growth of over 150% reflects increasing demand for energy efficiency from businesses and residents alike, as energy costs spike. Juniper Research defines a smart building as a building that uses connectivity to enable economical use of resources, while creating a safe and comfortable environment for the occupants.
The new research, dubbed “Smart Buildings: Key Opportunities, Competitor Leaderboard & Market Forecasts 2022-2026”, found that by enabling buildings to monitor and automate common functions, significant efficiency gains can be made, while improving the environment for workers and residents. The report recommends that vendors focus on building analytics platforms for the most value to be driven from deployments.
The research found that non-residential smart buildings will account for 90% of smart building spend globally in 2026; at a similar level to 2022. Juniper Research noted that this dominance is due to the larger economies of scale in commercial premises driving this spend, as well as the commercial focus of most smart building technologies.
Research co-author Dawnetta Grant said: “Smart building platform vendors will understandably focus on non-residential use cases, as these provide a stronger return on investment, but they should not neglect the importance of residential deployments, as environmental concerns intensify.”
The research found that the global shipments of sensors used in smart buildings will exceed 1 billion annually in 2026 from 360 million in 2022; representing a growth of 204%. “Sensors, when combined with intelligent management platforms, will allow smart buildings to adapt to conditions; matching elements such as lighting, heating and ventilation to live requirements,” stated the report.
The report recommends that smart building vendors partner with artificial intelligence vendors to maximize the benefits of automation, such as reduced energy costs and improved working environments.
“As the world begins to plan life post-pandemic, smart buildings are an attraction to help get staff away from home working. The core of smart buildings is an integrated smart technology system which allows greater control over the buildings’ environment and operations; fostering productivity, improved performance and overall wellbeing of occupants. Smart buildings deliver energy cost savings, space optimization and minimizing the environmental impact of buildings,” Juniper Research said in a recent white paper.
“The advantages that every company wants are reduced costs, long-term future-proofing and whole-life costs. However, other more ergonomic benefits will include improved wellbeing and productivity of staff. This suggests that truly ‘smart’ buildings are those that deliver better environmental, social and economic conditions.”