Smart Building Market Forecast To Hit $24B By 2021
Want to get a jump-start on upcoming deals? Meet the major players at one of our upcoming national events!
The smart building market is forecast to grow to $24.7B by 2021, representing a 34% increase from 2016, according to a new report from the Continental Automated Buildings Association. The association's research shows there will be 70 billion Internet of Things-connected devices by 2025, and the proliferation of IoT within the building industry is causing a “dramatic shift” from siloed building systems to an interconnected system of devices and sensors that collect and share data within and across portfolios. The building-related IoT market is projected to reach $76B by 2020, according to CABA.