As per the recent report of a newspaper from Navigate Research, IoT enabled smart buildings technology is having a market of around $6.3 bn at present, by the end of 2026 it will surpass $22 billion smoothly.
The report also suggests that commercial building owners ‘feeling the pressure to invest in the future of intelligent building technologies that leverage the IoT, providing better insight on operations and equipment as well as access to real-time data for productivity, convenience, and sustainability’.
“Leveraging Internet-connected devices that collect and communicate data and software for data aggregation and analysis, IoT for smart building are secure, scalable, and interoperable,” said Christine Jung, research analyst with Navigant Research in a statement. “They support open communications and standards within the building space, assisting with reduced costs and improved integration possibilities.”