The global smart building market valuation reached $72.6 billion and is likely to grow at a CAGR of around 10.9% and go beyond $121.6 billion by 2026. The elevation in these figures depends on various factors, like increasing energy consumption and costs and innovation in technologies like IoT and PoE.
Looking into this, property managers are coming forth to make commercial buildings smarter by leveraging advanced technologies and tools like IoT-based devices and sensors.