Global industrial smart building deployments are forecast to surge from 26 million in 2025 to over 165 million by 2030. Juniper Research says this represents a remarkable 525% increase, driven primarily by the need to reduce energy wastage and the development of bespoke vertical solutions.
To achieve this substantial growth, Juniper Research emphasises the importance of leading platforms developing tailored solutions that address specific challenges within different industries, in addition to improving energy efficiency.
The energy efficiency imperative
"We have identified technologies that reduce energy consumption as key to attracting new smart building users," explains Frederick Savage, senior market data analyst at Juniper Research.
"The increasing pressure to reduce operational spend on buildings, driven by global rising energy prices, is driving interest in solutions that enable sustainability goals to be met." Frederick Savage
The report highlights cloud-based energy management systems as particularly effective for achieving sustainability initiatives. These systems allow building owners to adjust energy usage based on real-time data on occupancy and operations, thereby minimising energy waste.
Industries such as healthcare, manufacturing, and retail, which typically require high energy consumption for machinery, stand to benefit most from these solutions.
However, the report notes that energy requirements vary across industries, and companies that tailor their energy management solutions accordingly are likely to see the greatest success.
Overcoming the ROI challenge
According to Savage, "Smart building platforms’ most substantial challenge is demonstrating a return on investment into energy management systems. This will be most notable when targeting building managers in nascent industries, where there will be little real-world evidence on the benefits of smart building technology."
Despite this challenge, the compelling need for energy efficiency and the potential for substantial cost savings are expected to drive continued growth in the industrial smart building sector.
