A new study from Juniper Research (UK) has found that the number of buildings globally deploying smart building technologies will reach 115 million in 2026, up from 45 million in 2022.
According to the study, titled Smart Buildings: Key Opportunities, Competitor Leaderboard & Market Forecasts 2022-2026, this growth of over 150% reflects increasing demand for energy efficiency from businesses and residents alike, as energy costs spike. Juniper Research defines a smart building as "a building that uses connectivity to enable economical use of resources, while creating a safe and comfortable environment for the occupants."
By enabling buildings to monitor and automate common functions, smart building technologies can lead to significant efficiency gains while improving the environment for workers and residents, according to the report. It also recommends that vendors focus on building analytics platforms for the most value to be driven from deployments.
Non-residential smart buildings driving investment
The research found that nonresidential smart buildings will account for 90% of the smart-building spend globally in 2026—a similar level to 2022. The researcher says this dominance is due to the larger economies of scale in commercial premises, as well as the commercial focus of most smart building technologies.
Research co-author Dawnetta Grant explained: “Smart building platform vendors will understandably focus on non-residential use cases, as these provide a stronger return on investment, but they should not neglect the importance of residential deployments, as environmental concerns intensify.”
Smart building sensor shipments to accelerate quickly
The research found that the global shipments of sensors used in smart buildings will exceed 1 billion annually in 2026 from 360 million in 2022, representing a growth of 204%.
The study notes that sensors, when combined with intelligent management platforms, will allow smart buildings to adapt to conditions, matching elements such as lighting, heating and ventilation to live requirements.
The report recommends that smart building vendors partner with AI vendors to maximize the benefits of automation, such as reduced energy costs and improved working environments.
