The Smart Buildings Market is expected to grow from USD 82.55 billion in 2020 to USD 229.10 billion by 2026 at a CAGR of 11.33% from 2020 to 2026.
Buildings installed with structured wiring which allows occupants control an array of electronic home equipments from a remote location are referred as smart buildings. These electronic devices can be line up by entering a single and simple command. Advent of smart building has allowed homeowners to control home or building lighting system, program their entertainment system, to switch on and off home appliances and other tasks. Smart building helps in minimize the operating costs, carbon emission as well as energy consumption. The surging number of smart cities across the world combined with the escalating demand for energy-efficient buildings is significantly driving the market growth. Moreover, the rising penetration of Internet-of-Things (IoT)-enabled devices for remote monitoring of devices is also enhancing the market for smart buildings. The increasing popularity of building automation systems concerning to security, entertainment, telecommunications and facility management, is further compelling the smart building market growth. The market is also propelled by the increasing levels of urbanization along with the rising number of government initiatives for developing smart infrastructures, among both developed as well as developing countries. In addition to this, the increasing consumer inclination towards the requirement for energy conservation has further resulted in the emergence of energy-efficient and environmentally sustainable buildings. Furthermore, the significant penetration of Building Information Modeling (BIM) and intelligent prefabrication systems is also boosting the development of advanced infrastructures. Several innovative technologies, such as big data, cloud computing, data analytics, and artificial intelligence (AI), are also assisting in eliminating building equipment downtime and minimizing operational costs. Apart from this, the increasing security concerns have also resulted in the increasing adoption of access control, video surveillance and emergency systems in smart buildings. On contrary, the dearth of cooperation among standard bodies is a factor which is limiting the market growth.
Additionally, the emergence of 5G technology improves new and powerful intelligent building capabilities and plays an important role in the growth of IoT-enabled devices by facilitating efficient real-time operational and analytic capabilities. A large amount of data is produced due to IoT-enabled devices in smart buildings; anyhow 5G technology allows faster building data transport, interpretation and efficient actions taken in an economical manner.
The global Smart Buildings Market is segregated on the basis of System as Parking Management System, Physical Security System, BEMS and Others. Based on Technology the global Smart Buildings Market is segmented in Wireless Technology, Bus Technology and Others. Based on Application the global Smart Buildings Market is segmented in Residential, Commercial and Industrial.
The global Smart Buildings Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Smart Buildings Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Honeywell International, Inc., Control4 Corporation, Hcl Technologies Limited, Advantech Co. Ltd, Hitachi Ltd and others are among the major players in the global Smart Buildings Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Smart Buildings Market has been segmented as below:
Smart Buildings Market, By System
Smart Buildings Market, By Technology
Smart Buildings Market, By Application
Smart Buildings Market, By Region
Smart Buildings Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
The global Smart Buildings Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Smart Buildings Market share. Major industry players with significant revenue share include Honeywell International, Inc., Control4 Corporation, Hcl Technologies Limited, Advantech Co. Ltd, Hitachi Ltd and others.
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1.1. Key Points
1.2. Report Description
1.3. Markets Covered
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
220.127.116.11. Secondary Research
18.104.22.168. Primary Research
22.214.171.124. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
5. Smart Buildings Market, By System
5.1. Key Points
5.2. Parking Management System
5.3. Physical Security System
6. Smart Buildings Market, By Technology
6.1. Key Points
6.2. Wireless Technology
6.3. Bus Technology
7. Smart Buildings Market, By Application
7.1. Key Points
8. Competitive Landscape
8.2. Start-up companies- Smart Buildings Market
8.3. Recent Developments
8.3.1. Mergers & Acquisitions
8.3.2. New Product Developments
8.3.3. Portfolio/Production Capacity Expansions
8.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
9. Company Profile
9.1. Honeywell International, Inc.
9.2. Control4 Corporation
9.3. Hcl Technologies Limited
9.4. Advantech Co. Ltd
9.5. Hitachi Ltd
9.6. Schneider Electric Se
9.7. Ibm Corporation
9.8. Cisco Systems
9.9. Panasonic Corporation
9.10. Emerson Electric Co.
9.11. Geze Gmbh
9.13. Abb Group
9.14. United Technologies Corporation
9.15. Huawei Technologies Co. Ltd,
9.16. Johnson Controls International Plc