Study shows 115 million smart buildings by 2026

Study shows 115 million smart buildings by 2026

Smart technology is increasingly being adopted by owners of both residential and business properties, enhancing user experiences offering convenience and improved security. Now, a new study undertaken by Juniper Research has discovered that the number of premises around the world deploying smart technology systems will rise from 45 million this year to 115 million by 2026.

This epic growth rate of more than 150% reflects an increased demand for greater levels of energy efficiency from both residents and enterprises alike, with energy costs now spiking.

In the report, Juniper Research defines a smart building as a structure that utilises connectivity to enable more economical use of available resources. Additionally, to qualify, the smart building must be able to perform this task while creating an environment that is both comfortable and safe for its occupants.

The study found that by enabling and empowering buildings to automate and monitor common functions, it is possible to make substantial efficiency gains.

Smart buildings for non-residential purposes are expected to account for around 90% cent of global spending for the sector in 2026. This represents a similar level to recorded figures for 2022.

While the available funds to implement smart technology are often greater for commercial properties, many homeowners and landlords are adding elements of smart technology to enhance living standards for family members and tenants. The recent hike in energy prices is seeing more UK consumers seeking ways to mitigate their costs, and energy efficiency delivered by smart home technology can be a valuable asset.

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