Navigant Research Report Shows Global Revenue Associated with IoT Solutions for Small and Medium Commercial Buildings is Expected to Exceed $4 Billion in 2027

Strong use cases and increasingly compelling IoT products and
services are encouraging growth

BOULDER, Colo.–(BUSINESS WIRE)–#Buildings–A new report from Navigant
Research analyzes the global market for Internet of Things (IoT)
solutions aimed at small and medium-sized buildings, including hardware,
software, and services, with global market forecasts for revenue,
through 2027.

While owners and occupants of small and medium-sized buildings have not
been aggressive adopters of IoT technologies, signs of growth beyond the
early adopters are emerging. As increasingly compelling IoT products and
services come to market and strong use cases for small and medium-sized
buildings become more apparent, market traction is increasing. Click
to tweet: According to a new report from @NavigantRSRCH,
global revenue associated with IoT solutions for small and medium
commercial buildings is expected to increase from $533.8 million in 2018
to over $4.0 billion in 2027 at a compound annual growth rate of 25.1%.

“Among the key market drivers are prices that continue to drop for IoT
hardware and vendors that are willing to bundle solutions for use cases
that provide benefits to the building owners and tenants,” says Neil
Strother, principal research analyst with Navigant Research. “At the
same time, prices for data processing and analytics related to IoT
solutions have dropped, creating further interest in this market
segment.”

Other drivers of adoption include viable use cases for small and medium
buildings, according to the report. For example, a well-designed
IoT-enabled lighting or HVAC system can produce double-digit energy
savings for a tenant or building owner. The payback might not be
immediate, but over the course of a few months or a year, the savings
can be apparent.

The report, IoT
for Small and Medium Buildings, analyzes the global market for
IoT solutions aimed at small and medium-sized buildings, including
hardware, software, and services. It examines the competitive landscape
and use cases and provides case studies highlighting IoT solutions for
HVAC, lighting, and security applications. Global market forecasts for
revenue, segmented by offering type, building type, and region, extend
through 2027. The study also examines the market issues, including key
drivers and barriers for IoT solutions in small and medium commercial
buildings, as well as prevailing and emerging communication protocols
for IoT systems. An Executive Summary of the report is available for
free download on the Navigant
Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.

* The information contained in this press release concerning the
report, IoT for Small and Medium Buildings, is a summary and
reflects Navigant Research’s current expectations 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
Navigant Research nor Navigant undertakes any obligation to update any
of the information contained in this press release or the report.

Contacts

Navigant Research
Lindsay Funicello-Paul, +1-781-270-8456
lindsay.funicello.paul@navigant.com