According to a new IDC Energy Insights report, “Business Strategy: Global Smart Building Technology Spending 2015–2019 Forecast,”* smart building technology spending will grow from $6.3 billion in 2014 to $17.4 billion in 2019, registering a compound annual growth rate of 22.6 percent. The most aggressive adoption will be in Asia/Pacific, North America, and Western Europe. …Continue Reading
After several years of slower-than-expected growth, the smart building technology market is expected to grow rapidly as there is increasingly broad market awareness of the business value. Smart buildings enable facility optimization through the convergence of information technology and building automation.
In developing this forecast, several trends were identified. One trend is that vertical industries have a large impact on the rate of adoption of smart building technologies. Buildings managed in the government or healthcare verticals, for example, tend to be more mature in their appreciation of the benefits of…
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