Navigant Research has released projections for intelligent building software, services and hardware. The key finding is that worldwide building data integration revenue will grow from $89.9 million this year to $971.3 million in 2025.
The press release says that while there is tremendous potential in using data to improve energy and operational efficiencies, challenges remain in organizing and understanding the data. Building management systems (BMS) can collect and process data, but are challenged in analyzing that data, the company said. The challenges also exist for integration of networked lighting, access controls and demand response (DR) systems, the report said.
IBM and Siemens Building Technologies entered a deal earlier this year that illustrates the possibilities of integrating Internet of Things (IoT) functionality in BMSes.