Verdantix Says Spending On Smart Building Software Will Reach $7.0 Billion In 2023 Reflecting A 7% Growth Rate
Summary
The forecasted compound annual growth rate of 7% will be driven by maturing technologies and growing customer demands. Commercial real estate investment software will account for $300 million of the total $5.3 billion of spend in 2019. Between 2018 and 2023, spending will increase fastest across investment and workplace management solutions, with APAC seeing the growth outlook of 14%, North America 12% and EMEA 7%. “Our analysis indicates a slowdown in the growth outlook for the smart buildings software market, however some segments, such as investment and workplace management, as well as regions - such as APAC - indicate hotspots of strong growth” continued Yate. “Vendors looking to maintain and grow their market share need to ensure they adapt their messaging and outreach efforts to meet buyer’s new concerns, and convince buyers concerned about economic uncertainty of delivering a high and speedy return on investment.” Join the webinar How To Select The Correct Smart Building Software For Your Business.