July 29, 2013: Big Data for Smart Buildings to Show Big Growth
Big Data Can Provide Building Insight
LONDON — The market for fault detection based on big-data building analytics is forecast to expand at a compound annual growth rate (CAGR) of more than 40 percent during the next five years, according to a new report entitled “Value Added Services in Intelligent Buildings” from IMS Research, part of IHS.
Fault detection in 2012 represented 27 percent of the $16 million global market for building analytics, with building optimization accounting for the remainder. However, as the market develops and grows, fault detection will take a larger share of the market, IHS forecasts.