Digitalisation in Built-Environment Market: Smart building concept is gaining in popularity. IoT-enabled smart building is an expected growing market, undergoing through a moderate growth of 15% between 2015 and 2025 Full-scale digitalisation in non-residential construction would, within 10 years, be capable of producing annual global cost savings of $0.7-1.2 trillion (13-21%) on building ‘Engineering & Construction’ value chain and $0.3-0.5 trillion (10-17%) in the ‘Operation’ phase. The installed base in volume of smart home and smart building management IoTenabled devices will grow from 233 to over 980 million units by 2025, when also taking into account the energy management and security-based devices. Main innovations are currently coming from the USA and services are firstly deployed in the country. The growing importance of IoT for smart buildings is emphasised in a 2017 by Navigant, where the IoT market in commercial buildings is expected to rise from $6.3 billion in 2017 to over $22 billion in 2026. Europe is actually lagging behind but the market is forecasted to grow reaching 24% of market share by 2025. Main reasons consist in the insufficient push by Europe in stimulating legacy building smartness retrofitting and lower-cost deep renovation packages, and underling financing contractive with a result-oriented perspective for existing non-smart buildings
Digital Twin Market: Digital Twin market is an emerging market, aiming in creating digital replicas of physical objects and ecosystems to provide high precision simulations and forecasts in multiple domains. The global digital twin market size was valued at USD 3.1 billion in 2020 and is projected to reach USD 48.2 billion by 2026, i.e., a growth of CAGR of 58.0% during the forecast period is expected increasing demand for digital twins in many different sectors, including industrial, environmental and healthcare domains. In this context, Digital Twins in construction sector are a relatively new concept that is expected to increase its market penetration in the forthcoming years.
Urban Planning Software and Services Market: According to a new report published by KBV research, the Global Urban Planning Software and Services Market size is expected to reach $190.97 billion by 2027, rising at a market growth of 5.1% CAGR during the forecast period. Key trends contributing to the growth of the market are the significant rise in the demand for building planning, the need for new software tools assisting urban planners, infrastructure planning, and consulting services. It is notable that in 2020, the web-based segment accounted for a significant revenue share of the urban planning software and services market. In addition, it is expected that the real estate and infrastructure companies segment would experience the highest growth rate in the urban planning software and services market over the forecast period. The growth of this segment can be justified by the increasing demand of the governments globally on infrastructural development projects and pressing need to develop climate resilient infrastructure for supporting sustainable cities.
