The number of global industrial smart building deployments will grow from 26 million in 2025 to over 165 million by 2030, according to Juniper Research.

To achieve this growth, leading platforms must develop bespoke offerings that tackle vertical-specific pain points, as well as driving greater energy efficiency.

“We have identified technologies that reduce energy consumption as key to attracting new smart building users,” said Frederick Savage, senior market data analyst at Juniper Research. “The increasing pressure to reduce operational spend on buildings, driven by global rising energy prices, is driving interest in solutions that enable sustainability goals to be met.”

Juniper Research expects to see more cloud-based energy management systems in smart building platforms, suitable for achieving sustainability initiatives. These let building owners adjust energy usage based on real-time information on occupancy and operations, reducing energy waste.

This will be most evident in industries such as healthcare, manufacturing and retail that require high energy usage for machinery. However, levels of requirement vary in each industry, and Juniper expects companies tailoring energy management offerings to each requirement to be the likeliest to succeed.

“Smart building platforms’ most substantial challenge is demonstrating a return on investment into energy management systems,” said Savage. “This will be most notable when targeting building managers in nascent industries, where there will be little real-world evidence on the benefits of smart building technology.”

The smart building market will place more attention on key industry verticals for deployment, particularly in education and healthcare. The research provides an assessment of smart building market revenue prospects and strategies to date, including market analysis and in-depth forecasts for 61 countries. The report includes a dataset covering a five-year period, a competitor leader board, and an examination of current and future market opportunities.

To download a sample copy of the report, go to www.juniperresearch.com/resources/free-research/foundations-of-smart-buildings-ai-iot-energy-efficiency.