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Merging Physical and Virtual Environments though Connectivity
Advances in network connectivity are changing the world and creating dynamic opportunities in the building environment. Connectivity and Big Data analytics offer insights that building owners and operators can use to create occupancy and energy efficiencies that dramatically improve both bottom and top line concerns. Networking building systems together using interoperable standards and controls will be a major component of the Internet of Things. The research includes a discussion of smart buildings systems market drivers and restraints and offers pricing trends and revenue forecasts through 2018. The base year is 2013.
-A smart building system is a package of sensors, controllers/hardware, and software that allows a facility to sense its own environment and react to both real-time and historical data for maximum operational efficiency. The facility will have fully integrated building systems and a common logic in the control mechanism for those systems.
-For the purposes of market sizing in this research, a “smart building” is defined as having these systems to some degree, whether it be a simple energy management system or the realization of the total smart building concept. The addressable market is considered to be the total built environment in North America.
-The smart building systems market will exhibit a compound annual growth rate (CAGR) of% from 2013 at $million to 2018 at $million.
-Increased spending on new buildings as well as plentiful retrofit opportunities drive growth for smart systems. Increased focus on operational cost savings, occupancy efficiencies, and environmental sustainability also drive growth.
-Open-source software protocols will continue to erode the base of proprietary systems, with the effect of increasing interoperability between manufacturers’ products, increasing market competitiveness and opportunities for competitive bidding, decreasing the prices of systems dramatically, and proportionately increasing adoption rates of smart building systems.
-The value proposition of smart building systems still is not well understood by building owners and operators, and there is a lack of skilled personnel at all stages of the smart building systems value chain, including architects, engineers, contractors, system integrators, and operations and maintenance officials.
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