International. According to a new research report from IoT analyst firm Berg Insight, the installed base of sensors, actuators, modules, gateways and other connected devices deployed as part of IoT-based building automation in smart, connected commercial buildings is estimated at 151 million units worldwide by the end of 2018.
With a compound annual growth (CAGR) of 33 percent, the installed base will reach 483 million units in 2022. 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 increase at a CAGR of 44 percent to reach 19.4 million by 2022.
In terms of revenue, Berg Insight estimates that devices connected to the global BIoT market generated revenues of more than $1.2 billion in 2018. This figure will rise to a CAGR of 21 percent to nearly US$2.7 billion by 2022.
This Berg Insight study analyzes the smart building automation market across multiple verticals ranging from the best-known such as heating, ventilation and air conditioning (HVAC), indoor lighting, fire and security, access and security, to the lesser-known ones such as electric vehicle charging, irrigation systems and pool monitoring.
The most successful building automation solutions to date, in terms of units sold, include access and safety, fire and security, HVAC and elevator systems, and escalator management. Automatic control can be performed through a centralized system, such as a building management system (BMS).
Building automation has been around for many decades, but there is a new urgency due to factors such as energy savings and mandates for green building. The latest smart building solutions leverage new technologies such as IoT, big data, cloud computing, data analytics, deep learning, and artificial intelligence for the benefits of saving energy, reducing operating expenses, increasing occupancy comfort, and meeting increasingly stringent global norms and sustainability standards.
Alan Varghese, Senior IoT Analyst, Berg Insight, said: "A major shift is starting to happen, especially in new construction, where the main driver is shifting from cost reduction to features that improve the user experience and change the way users and buildings interact. Instead of there being a single killer app, we're starting to see a combination of use cases."
These use cases leverage the Internet of Things, sensors, and connectivity to enable customization of office and conference room spaces based on occupancy levels and occupant preferences, efficient mobility throughout the building, and assist occupants with location and orientation. all controllable from the mobile. Most importantly, they are capable of a predictive awareness of individual needs.
