Market for smart buildings is expected to reach USD 232.23 billion by 2032 with Pro AV facilitating building automation
Dubai, UAE, 3rd May 2023, ZEX PR WIRE, Integrate Middle East, a significant new learning and networking event for the entire Pro Audio Visual (AV) integration value chain, is set to emphasise the significance and latest impacts of the Pro AV industry in the global smart building market, which is projected to grow at a compound annual growth rate (CAGR) of 11.3 per cent from 2023 to reach around USD 232.23 billion by 2032.[i]
The Smart Building market is undergoing a rapid transformation due to the increasing demand for energy-efficient and cost-effective solutions. Pro AV solutions are playing a significant role in this transformation by providing cutting-edge technologies that enable smart buildings to be more connected and efficient.
Estimated at USD 81.19 billion in 2022, the expansion of the global smart building market has been driven by factors including a growing demand for energy saving features and the expanding use of Internet of Things (IoT) and Pro AV technologies.
The utilisation of Pro AV technologies represents one of the primary elements facilitating building automation in smart buildings. Advanced Pro AV systems and solutions have paved way for building managers to streamline and improve building operations as well as minimise energy waste by obtaining real-time information on occupants, energy usage, and equipment status.
This collection and analysis of data are one of the most significant aspects of smart buildings. Building analytics – data analytics gleaned from smart building technologies such as networked sensors, building management systems (BMSs), integrated workplace management systems (IWMSs) and Internet of Things (IoT) edge devices – have become increasingly important in shaping the future of the smart building market as they can be used to increase efficiency, develop smarter equipment maintenance protocols, create a healthier building environment, and save resources and time.
Integrate Middle East aims to explore and highlight these emerging and more established Pro AV technologies that are transforming the smart building industry and optimising the way buildings are managed.
The three-day exhibition and summit will provide an excellent platform for exhibitors from the Pro AV industry to showcase their latest technology innovations and comprehensive solutions that are leading the way in the Smart Buildings sector.
Ragheed Haydar, Area Manager – Middle East at Lightware Visual Engineering, said: “We are excited to present our latest technology innovations and comprehensive solutions at the debut edition of Integrate Middle East. During the event, our team will highlight key concepts, features, and benefits of our state-of-the-art AV signal management solutions, which are designed to serve every application, requirement, and budget. We expect the event to offer a dynamic platform to further explore the needs of the industry in the region.”
As the UAE prepares to host Cop 28 in November 2023 and emphasises the importance of robust ESG strategies, there is a growing need to leverage smart technology. This presents a unique opportunity to improve building management practices, enhance sustainability efforts, and drive innovation in the industry.
Michael Bosworth, Executive Vice President, Enterprise, at Christie, added: “We are thrilled to exhibit our end-to-end visual solutions of projection, flat panels, and content management which transform spaces to provide dynamic experiences, at Integrate Middle East. We deliver comprehensive and integrated solutions for installations including lobbies, meeting rooms, and auditoriums using our expertise in AV technologies. Working with our partners, we can assist building managers and owners in developing more effective and welcoming spaces.”
According to a report by MarketsandMarkets, the digital signage market in smart buildings is expected to grow from $6.1 billion in 2018 to $13.2 billion by 2023, at a CAGR of 16.7 per cent[ii] as data generated by smart buildings can be of great relevance in ‘narrowcasting’ to the building’s users.
Once audio-visual integrators have determined which digital displays are most suitable for the needs of employees and the building itself, the data collected from smart buildings will become an integral part of the workplace environment. People can view the data on digital displays throughout the office, which creates more interactive experiences for building occupants by displaying wayfinding information, personalised messages, and social media feeds. As a result, staff will be cognisant of what’s happening behind closed doors and have a more significant amount of environmental awareness.
The role of digital signage and other cutting-edge Pro AV solutions in addressing environmental issues will be also discussed at the Integrate Middle East through a keynote on ‘The Smarter Buildings of the Future’. Industry expert Yasser Ahmed, Director of Digital Buildings and Software, Schneider Electric, UAE, will discuss themes including next-gen Pro Av solutions, efficient utilisation of IoT, data-driven Pro AV interfaces, and scalable Pro AV solutions for smart buildings and designs and share his valuable insights on smart building and highlight the importance of employing eco-friendly products and building automation features.
In addition to various scalable AV solutions for smart buildings and designs, the presentation will also highlight several sustainable AV practices and solutions based on IoT and open APIs that assist companies in the Middle East and Africa in reducing energy consumption and environmental effects.
The market for smart buildings is on track to experience significant growth over the coming years, with the adoption of Pro AV solutions playing a key role in driving this growth. As more buildings become ‘smart,’ companies are well-positioned to capitalise on this trend and help shape the future of the built environment.
Integrate Middle East, the premier event for the AV integration value chain, will bring together experts, specialists, and companies working in the smart building market to explore the effects of cutting-edge AV technologies on the market for smart buildings and how these ground-breaking solutions are altering the functionality of buildings, showcasing a range of comprehensive and integrated solutions and systems targeted at optimising building operations and increasing efficiency.
About Dubai World Trade Centre: With a vision to make Dubai the world’s leading destination for all major exhibitions, conferences, and events, DWTC has evolved from being the regional forerunner of the fast-growing MICE industry into a multi-dimensional business catalyst, focusing on Venues, Events and Real Estate Management. Complementary to the primary service offerings are a range of value-added services from media/advertising, engineering and technical consultation and wedding planning, security services and an award-winning hospitality portfolio.
About Integrate Middle East: Integrate Middle East is a leading forum and sourcing platform for the global Pro AV and Media Technology community that connects technology leaders with integrated solution buyers from the Education, Media, Entertainment, Hospitality, Retail, and Communication sectors. The platform provides an opportunity to expand businesses, gain access to cutting-edge solutions from the top broadcast, Pro AV, and media technology providers worldwide, as well as discover the best practices established across markets. As an interactive platform for Pro AV manufacturers and integrators, Integrate Middle East showcases a range of products and services, along with interactive learning zones, multi-conferencing demo areas, and smart home simulators.
[i] Precedence Research – Smart Building Market Size to Hit Around USD 232.23 billion by 2032
[ii] The digital signage market in smart buildings is expected to grow from $6.1 billion in 2018 to $13.2 billion by 2023
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Financial Reporting 24 journalist was involved in the writing and production of this article.