Smart facilities that utilize building automation systems and IoT technologies are nothing new, but they’re about to become a lot more popular. In fact, the global smart building market is projected to grow from $67.60 billion in 2021 to $265.37 billion in 2028 at a compound annual growth rate of 21.6%, according to a Fortune Business Insights report.
The reason for the surge in demand for smart building technologies isn’t simply due to operational efficiencies, however. The pandemic is accelerating the need for facility managers and corporate tenants to offer safe office environments for employees as they return to work, and smart technologies will help enable that process, the report noted.
