This IDC Energy Insights report provides updated projections of investment in smart building solutions globally. After several years of slower-than-expected growth, the market is expected to grow rapidly as there is increasingly broad market awareness of the business values generated by deploying smart building solutions. The 2015 global smart buildings forecast projects spending to grow from $7.0 billion in 2015 to $17.4 billion in 2019 (a 22.6% CAGR).
"While the 'Internet of Things' is the topic of much speculation in the consumer market, smart building technology has steadily been increasing its footprint and impact among commercial buildings. Smart building solutions are valuable technologies for deploying energy management strategies that generate operational efficiencies, cost containment, and sustainability benefits that appeal to key stakeholders in building management," said Jill Feblowitz, vice president, IDC Energy Insights.