HVAC Breaking News / Building Automation Systems

May 14, 2012: Smart Building Services Market to Top $4 Billion by 2018

May 14, 2013
NEW YORK — A drive for cost savings and energy efficiency has brought a wave of new players and capabilities into the commercial building automation market, according to ABI Research. Rather than competing directly with the giants of the established building automation system (BAS) market, these new entrants are bringing additional managed data services to help drive greater efficiency. From 2013 to 2018, these commercial building managed BAS services will deliver annual revenues of more than $4 billion dollars worldwide, says ABI Research, growing at a compound annual growth rate (CAGR) of 29 percent during the period.

“We are seeing a rush of investment, creativity, and revenues in developing what can be achieved with BAS data,” said Jonathan Collins, principal analyst, ABI Research. “These software as a service (SaaS) or cloud services have the ability to pull together management of multiple buildings and applications within them, simplifying the process of improving energy efficiency for building owners.”

Growing BAS network connectivity has opened up these systems to SaaS applications developed to analyze building environmental performance alongside a range of other data feeds such as local weather or energy pricing.

But it is not a market just for start-ups such as BuildingIQ, Sky Foundry, or Viridity Energy, says ABI Research. The established giants of building automation systems including Johnson Controls, Siemens, and a handful of others have responded and are taking a range of approaches towards competing or integrating in the managed smart building market. Also, the largest IT and systems integrator companies have also seen potential in the market with IBM, HP, and Cisco all bringing their own approaches.

Publication date: 5/13/2013

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