Connected building systems to reach 483m devices by 2022
Berg Insights predicts BIoT systems will become $2.7bn market as buildings add new capabilities
The installed base of connected building automation devices will reach 483 million units worldwide in 2022, a market of $2.7bn.
According to a new research report from IoT analyst firm Berg Insight, the installed base of connected building devices reached 151 million units by the end of 2018, and will grow at a CAGR of 33% through to 2022, when it will reach 483 million units.
Berg Insight includes sensors, actuators, modules, gateways and other connected devices deployed as part of IoT-based building automation in the Building IoT (BIoT) category.
In terms of connectivity, about 4.5 million of these devices were connected via cellular networks in 2018. The number of cellular connections in the building automation market will grow at a CAGR of 44% to reach 19.4 million in 2022.
By revenue, the the global BIoT market was $ 1.2 billion last year, and will reach $2.7bn in 2022, a CAGR of 21%.
Berg analyses the market for building automation in smart buildings along multiple verticals including heating, ventilation and air conditioning (HVAC), indoor lighting, fire & safety, access & security, electric vehicle charging, irrigation systems and pool monitoring.
The sector is dominated by access and security, fire and safety, HVAC systems and elevators and escalators management at present. The market is shifting as building owners and operators put more focus on energy conservation and green construction, the company said.
“A major change is starting to happen now especially in new construction, where the primary driver is changing from cost reduction to features that enhance the user experience and change how users and buildings interact. Instead of there being a single killer-app, we are starting to see a combination of use-cases,” said Alan Varghese, Senior IoT Analyst, Berg Insight.
“These use-cases leverage the Internet of Things, sensors and connectivity to enable customization of spaces in offices and conference rooms based on occupancy levels and occupant preferences, efficient mobility throughout the building, and they help occupants with location and wayfinding – all controllable by mobile platforms. Most important, they are capable of predictive awareness of individual needs.”