Global intelligent building automation technologies market is anticipated to grow at a significant CAGR of 10.4% during the forecast period (2024-2031). The market growth is attributed to the growing adoption of artificial intelligence (AI) and machine learning technologies to optimize heating, ventilation, and air conditioning (HVAC) systems in smart buildings driving the market growth. These algorithms can minimize energy use by accurately predicting and adjusting based on real-time input and past data. For instance, in October 2021, ABB Ltd. invested in building technology startup BrainBox AI. ABB to integrate BrainBox AI’s predictive, self-adaptive artificial intelligence with the existing ABB Ability™ portfolio for smart buildings. BrainBox AI uses artificial intelligence to reduce energy costs and carbon emissions from heating, ventilation, and air conditioning (HVAC) systems in commercial buildings.
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Artificial intelligence (AI) and machine learning (ML) can identify irregularities and possible hazards in smart buildings by analyzing data from sensors, access control systems, and security cameras. For instance, in August 2023, Microsoft introduced a machine learning model, IoT for smart buildings. A new machine learning model and Internet of Things (IoT) sensors and automation enable real estate operations teams to rely on energy-smart buildings, and structures with interconnected automation and sensors, to responsibly maintain a base level of comfort.
Structures can function more effectively and efficiently when AI and ML are combined with Internet of Things devices to Increase automation, improve building performance, and enhance occupant experiences in smart lighting controls and thermostats. For instance, in June 2022, Siemens AG introduced Building X, an open AI-enabled suite for net zero buildings. The suite is the first next-generation offering built on the design principles of Siemens Xcelerator, an open digital business platform to accelerate digital transformation and value creation across the industry, transportation, grids, and buildings. The suite offers modular, AI-enabled applications, and built-in cyber security.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Component
o By Product
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Cisco Systems, Inc., General Electric Company, Honeywell International Inc., Schneider Electric SE, Siemens AG., among others.
Key questions addressed by the report.
Global Intelligent Building Automation Technologies Market Report Segment
By Component
By Product
By Application
Global Intelligent Building Automation Technologies Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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