Guidehouse Insights Estimates Global Market for Intelligent Building Solutions Will Grow to Nearly $120 Billion by 2032

Many regions have mandated the use of intelligent building applications to reduce power requirements and lower emissions

BOULDER, Colo., July 25, 2023 /PRNewswire/ -- A new report from Guidehouse Insights explores the global market for intelligent building solutions.

Though financial incentives have not been as compelling as hoped, intelligent buildings have now evolved from a solution for early adopters to the mainstream. According to a new report from Guidehouse Insights, intelligent building solutions revenue is anticipated to grow from $54.8 billion in 2023 to $119.8 billion by 2032, globally, at a compound annual growth rate (CAGR) of 9.1%.

Intelligent building systems fall into three application categories. The first applies AI to the management of the facility's heating, ventilation, and air conditioning (HVAC) system to better anticipate needs for heating, cooling, and indoor air quality based on set priorities to lower costs, reduce carbon emissions, encourage employee productivity, and maintain employee comfort. The second is a building energy management system that offers insight into power usage within the facility and controls local power sources such as solar panels and local battery storage. The third connects multiple building automation systems (BAS) so they can operate as an integrated whole.

"The global market for intelligent building solutions will continue to experience strong growth as intelligent buildings move from a solution for early adopters into the mainstream," says William Hughes, principal research analyst with Guidehouse Insights. "Over a certain amount of floor space, determining whether a new commercial building will have an intelligent building application is no longer much of a question. Intelligent buildings generate significantly better outcomes."

Market trends for intelligent building solutions vary by building type and region. These trends reflect different needs for different building types across regions, and regional variations in economic prosperity levels, new building technology adoption rates, and regulatory mandates, according to the report.

The report, Intelligent Buildings, examines the global market for commercial intelligent building solutions that enable building owners, managers, and operators to manage and control major BAS. Market conditions, technology issues, and trends are analyzed to estimate the adoption and success of these systems. The report includes estimates of market size and revenue analyses from 2023 through 2032 for five global regions (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa), three segments, and eight building types. An executive summary of the report is available for free download on the Guidehouse Insights website. 

About Guidehouse Insights

Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today's rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.

About Guidehouse
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has over 16,500 professionals in over 55 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.

* The information contained in this press release concerning the report, Intelligent Buildings, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.

For more information, contact:

Cecile Fradkin for Guidehouse Insights
+1.646.941.9139
[email protected]

SOURCE Guidehouse Insights