Navigant Research Report Finds Global Annual Revenue Associated with Edge IoT Spend in Commercial Buildings Is Expected to Near $8 Billion in 2027
BOULDER, Colo.--(BUSINESS WIRE)--Jan 15, 2019--A new report from Navigant Research analyzes the edge computing market for the Internet of Things (IoT) in buildings, providing global market forecasts through 2027.
Edge computing distributes the power of data processing to the fringes of a system, giving devices, sensors, and gateways the power to act or make decisions locally and not always rely on a cloud environment. This approach aligns well with commercial building efficiency goals since computing at the edge can in some cases handle data processes locally as well or better than sending the data to a cloud—and do so at lower cost. Click to tweet: According to a new report from @NavigantRSRCH, global revenue associated with edge IoT spend in commercial buildings is expected to grow from more than $3 billion in 2018 to $7.8 billion in 2027 at a compound annual growth rate (CAGR) of 11.2%.
“In the commercial buildings sector, stakeholders are beginning to adopt edge computing technology to help create more intelligent and efficient facilities,” says Neil Strother, principal research analyst at Navigant Research. “Edge computing also fits with the IoT technology trend, which some buildings are adopting in the form of smart meters, smart thermostats, occupancy sensors, and advanced lighting systems.”
According to the report, when IoT technologies such as these integrate with edge computing power, the combination can yield positive benefits for a building. For instance, a well-designed HVAC system that leverages an edge IoT infrastructure could produce significant savings through its ability to react quickly to subtle changes in air temperature or occupancy levels and intelligently make automated adjustments at the optimal time.
The report, , analyzes the global market for edge computing for IoT in buildings, with a focus on hardware, software, and services. The study examines use cases and provides case studies highlighting edge and IoT solutions for commercial buildings. Global market forecasts, segmented by offering type, building type, and region, extend through 2027. The report also analyzes market issues, including key drivers and barriers and regional trends for edge IoT solutions in commercial buildings. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of clean, intelligent, mobile, and distributed energy. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Edge Computing for IoT in Buildings, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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CONTACT: Navigant Research
KEYWORD: UNITED STATES NORTH AMERICA COLORADO
INDUSTRY KEYWORD: BUILDING SYSTEMS ENERGY OTHER ENERGY TECHNOLOGY HARDWARE SOFTWARE OTHER TECHNOLOGY COMMUNICATIONS OTHER COMMUNICATIONS CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: Navigant Research
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PUB: 01/15/2019 05:15 AM/DISC: 01/15/2019 05:15 AM