AI IoT in Smart Cities Market – Changing Energy Consumption
Buildings are gradually becoming a central part of the world today. People live, work and play in these buildings along with socializing, learning and engaging in them. It’s been estimated that on an average a person spends 93% of the time in buildings. The demands based on facilities management as well as the cost of services have continued to increase over the years as the industry demanded relief. The AI (artificial intelligence) based systems that are connected using IoT (internet of things) allow modern buildings to function properly and has continued to expand as well across cities and boosting AI IoT in Smart Cities Market. These smart systems manage energy, security, elevators, HVAC and lighting along with generating data that are primarily needed for the purpose of running each. Companies are gradually understanding how connected buildings operate and will have huge competitive advantages in cost, productivity, and safety thereby increasing the demand for AI IoT in Smart Cities Market.
Given below is an estimate of the smart building cost structure in the US in 2017.
IBM IoT Building Insights, is one such solution that is available on the IBM Cloud, focusing primarily on energy optimization. The model buildings are connected using meters and sub-meters having historical readings for learning immediately. The offering by IBM presents a single view of the current energy profile across every building and its subsystem, warning in case of unusual patterns of consumption. IBM IoT Building Insights, uses responsive web app and hybrid mobile apps that allow building managers to easily navigate energy usage and zoom in to diagnose when the buildings are consuming too much (or too little) energy thereby bringing them down to a subsystem level. ARM is a UK based firm that has also used artificial intelligence and IoT technology for optimizing energy efficiency across smart cities and buildings as well as across devices.
Maximize Market Research is a global market research firm that has comprehensively analysed AI IoT in Smart Cities Market. The driving forces as well as considerable restraints have been explained in depth to attain a balanced scenario. Segment wise market size and market share during the forecast years is duly addressed to portray the probable picture of this exuberant industry. The competitive landscape comprising of key innovators, service providers, market giants as well as niche players is studied and analysed extensively with respect to their strengths, weaknesses as well as value addition prospects. The report presents significant case studies along with the success stories to motivate and guide the like minds. In addition, Report displays current consolidation trends with respect to prominent mergers and acquisitions, consequent Market fragmentation, new trends and dynamics in partnerships, emerging business models. This will enable the reader to comprehend whole IoT Ecosystem with utmost ease and clarity.
Click the link to read the report description and Table of Content of the Global IoT in Smart Cities Analysis and Forecast 2024.