As energy costs spike, the number of buildings globally deploying smart building technologies will reach 115 million in 2026, from 45 million in 2022, a new report showed on Monday.

This growth of over 150 percent reflects increasing demand for energy efficiency from businesses and residents alike, according to a new study from Juniper Research.

A smart building uses connectivity to enable economical use of resources while creating a safe and comfortable environment for the occupants.

The research found that non-residential smart buildings will account for 90 percent of smart building spend globally in 2026, at a similar level to 2022.

“Smart building platform vendors will understandably focus on non-residential use cases, as these provide a stronger return on investment, but they should not neglect the importance of residential deployments, as environmental concerns intensify,” said research co-author Dawnetta Grant.

By enabling buildings to monitor and automate common functions, significant efficiency gains can be made, while improving the environment for workers and residents.

The research also found that the global shipments of sensors used in smart buildings will exceed 1 billion annually in 2026 from 360 million in 2022, representing a growth of 204 percent.

Sensors, when combined with intelligent management platforms, will allow smart buildings to adapt to conditions; matching elements such as lighting, heating, and ventilation to living requirements.

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