(IT-NEWSWIRE.COM, May 08, 2019 ) Manufacturing facilities segment is growing at a highest CAGR during the forest period
Latest market study on "Building Analytics Market to 2027 by Deployment Type (Cloud-Based and On-Premise), Component (Software and Service); Building Type (Manufacturing Facilities, Residential Building, Commercial Building, Public Places, and Government Buildings); and Application (Fault Detection & Monitoring Facilities, Security Management, Energy Management, Emergency Management, Parking Management, Operations Management, and Network Management) - Global Analysis and Forecasts", the global building analytics market is expected to grow to US$ 19,655.7 million by 2027 from US$ 6,181.4 million in 2018. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
The deployment of building analytics platform in different types of building depends on varied applications demanded by the infrastructure and nature. As for example, fault detection and monitoring is one of the major application used by manufacturing facilities; and energy management is extensively used by commercial and residential buildings. By building type, the building analytics market is segmented into manufacturing facilities, commercial building, residential building, public places, and government building.
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Deployment of analytics in the manufacturing facilities enable the companies to monitor all the manufacturing processes in real-time and helps the facility manager to act in order to prevent failure, optimize field service, as well as vigorously reallocate production resources on time in case of any faults or changes. Further, it allows monitoring of individual asset performance at different levels of production thus, gaining insights regarding the productivity of various assets.
Presently, several manufacturing organizations are experiencing digital transformation in order to become smart digital manufacturing companies. This has resulted in the integration of sensors in production line equipment as well as in other assets to facilitate the collection and analysis of data for optimizing operations, boost asset performance, improve productivity and reduce risk. Fault detection and monitoring or FDD is the most common application of business analytics used by manufacturing companies worldwide. Other applications are also significant for manufacturing facilities such as emergency management, security management, energy management, and operations management among others.
Currently, the companies offer a mix of solution and services to their clients such as malls, airports, manufacturing & production plant residential complexes, hotels, offices, and government buildings among others for their seamless facility management. Further, the companies also offer insights and reports to relate to fault detection, monitoring, and risk assessment analytic reports for making informed decisions and framing policies for improved infrastructure management.
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Some of the leading companies operation in this market are Schneider Electric, IBM Corporation, SkyFoundry, Environmental Systems Inc., Senseware, Gooee, Acorn Engineering Group Limited, Waibel Energy Systems, Buildingiq, Siemens AG, General Electric, Iconics, Coppertree Analytics, Delta Electronics, Enernoc, Buildpulse, Engie Insight, Gridpoint, Ecovox, Buildinglogix, Crestron Electronics, Energy Advantage, Honeywell, AT Kearney, Xchanging PLC (CSC Computer Sciences International Operations Limited), and Arup Group among others.
The report segments the Global Building Analytics Market as follows:
Global Building analytics Market - By Deployment Type
Global Building Analytics Market - By Component
Global Building Analytics Market - By Building Type
Global Building Analytics Market - By Application
Fault Detection & Monitoring Facilities
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Global Building Analytics Market - By Geography
Rest of Europe
Asia Pacific (APAC)
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Middle East & Africa (MEA)
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South America (SAM)
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