The value of smart building deployments is projected to grow by 95 per cent to $14bn by 2026 globally. This growth, up from $7bn in 2024, will be driven by sustainability initiatives and the need for cost reductions in building management, said Juniper Research, which has published the report. — Smart Cities World
As reported by Smart Cities World, the study found that artificial intelligence-based building management solutions will be key to both achieving sustainability and energy goals and securing a return on investment in smart buildings. Through in-depth data analytics, AI is capable of identifying potentially expensive issues, before they occur, which can increase safety and decrease operational costs. Additionally, the report predicts that through the integration of internet of things (IoT) networks and sensors with AI systems, the automation of building functionality in real-time can result in major savings and emissions reductions.
The study found that buildings, such as warehouses, factories, and agricultural buildings, could benefit the most from AI-based smart building technology as they tend to have high operational costs.
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