The Building Analytics Market is to Touch $22.4 Billion by 2030; Shift Towards Cloud-Based Solutions, Emphasis on Sustainability and Energy Efficiency and Increasing Demand for Energy Efficiency propels market growth.

The Building Analytics Market size is estimated to reach $22.4 billion by 2030, growing at a CAGR of 14.1% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “Building Analytics Market – By Building Type (Residential Buildings, Commercial Buildings (Offices, Retail, Hospitals, Hotels, Others), Industrial Buildings, Government Buildings, Public Places, Others), By Component (Software (Cloud-Based, On-Premises), Services (Professional Services, Managed Services), By Technology (IoT (Internet of Things), Artificial Intelligence (AI), Machine Learning (ML), Big Data Analytics, Cloud Computing, Edge Computing, Others), By Application (Energy Management, Security Management, Infrastructure Management, Network Management, Workforce Management, Asset Management, Emergency Management, Fault Detection and Monitoring, Parking Management, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030” The increasing integration of AI and ML technologies are the main drivers of market expansion and are fueling the growth of the Building Analytics industry during the forecast period.

Asia-Pacific's dominant market share of 30% in 2023, second only to North America, is fueled by rapid urbanization and extensive construction activities. Countries such as China, India, and Japan are significantly investing in smart infrastructure to support their growing populations and economic expansion. This investment includes integrating advanced analytics into building management systems to enhance operational efficiency and reduce energy consumption, thereby improving occupant comfort. Additionally, the region's robust technological advancements, particularly in IoT and AI, facilitate the deployment of sophisticated building analytics solutions, making these systems increasingly essential.

The drive for energy efficiency is a major market driver for building analytics. With rising energy costs and growing environmental concerns, building owners and facility managers are under pressure to reduce energy consumption and carbon footprints. Building analytics provide comprehensive insights into energy usage patterns and identify inefficiencies in HVAC, lighting, and other systems. By leveraging real-time data and advanced algorithms, these tools can suggest actionable measures to optimize energy use, such as adjusting temperature settings based on occupancy or implementing energy-saving schedules.

The integration of AI and ML into building analytics is transforming the way buildings are managed and operated. AI and ML algorithms analyze vast amounts of data from various building systems, identifying patterns and anomalies that would be difficult for humans to detect. This capability enables predictive maintenance, where potential equipment failures are anticipated before they occur, reducing downtime and maintenance costs. AI-driven analytics also facilitate advanced energy management by learning occupancy patterns and optimizing HVAC and lighting systems accordingly, leading to significant energy savings. Furthermore, these technologies enable automated responses to real-time data, such as adjusting temperature or lighting based on current occupancy, enhancing occupant comfort and operational efficiency.

Key companies profiled in the Building Analytics Market are Honeywell International Inc., IBM Corporation, Siemens AG, Schneider Electric,Delta Electronics, Inc.,Johnson Controls International PLC, ICONICS Inc., General Electric Company, Crestron Electronics , CopperTree Analytics and others.