Earlier this year Compass Intelligence released a research report titled “Smart Buildings, Cities and Digital Twins Technology and Solutions, 2021-2026.”
“This research evaluates smart building technologies, players, and solutions,” Compass said when announcing the report’s availability, adding that it “analyzes smart buildings challenges and opportunities, assesses market potential, and provides accompanying smart buildings market sizing, globally as well as regionally, and by market segment for 2021-2026.
“It includes an analysis of technologies supporting smart building automation, IWMS [integrated workplace management system software], and smart workplace applications and services. Smart building technology integration areas addressed within the report include 5G, AI, data analytics, and edge computing.”
Specific findings from Compass Intelligence include the following.
- Smart building automation software and systems will reach $19.3 billion in North America by 2026.
- AI-enabled IoT (AIoT) systems will drive IWMS efficiencies and automation to an entirely new level by 2026.
- Smart facility water management systems will represent an $723-million market opportunity in Europe by 2026.
- The key to success in the smart building market is to intelligently integrate data, systems, processes, and assets for enterprise and industrial operations.
- Global asset twinning, component twinning, system twinning, process and workflow twinning in support of smart cities will reach $3.77 billion by 2026.
- Global deployment of 5G, AI, and IoT is substantially focused upon smart city solutions, representing 65%, 35%, and 55% of all total global investment for each respective technology.
“A digital twin is a virtual object representation of a real-world item in which the virtual is mapped to physical things in the real world such as equipment, robots, or virtually any connected business asset,” Compass further explained. “This mapping in the digital world is facilitated by IoT platforms and software that is leveraged to create a digital representation of the physical asset. The digital twin of a physical asset can provide data about its status such as its physical state and disposition. Conversely, a digital object may be used to manipulate and control a real-world asset by way of teleoperation.”
A global enterprise license for the 765-page report is available for $8,000. You can find out more about the report “Smart Buildings, Cities and Digital Twins Technology and Solutions, 2021-2026” here and purchase it here.
