Smart Building Market Overview :
Smart building integrates major building systems on a common network and shares information and functionality between systems to improve energy efficiency, operational effectiveness, and inhabitant satisfaction. It can be also referred as automated buildings, that integrate smart technology. Smart building refers to build environments such as offices, schools, apartments, museums, university campuses, hospitals, malls, and outdoor areas that are enabled for co-operation of smart objects and systems, and for ubiquitous interaction with frequent and sporadic visitors. Some of the smart technologies used for smart buildings are data gathering devices, automated systems, wireless technologies, intelligent building management systems, digital infrastructure, remote monitoring, energy efficiency measures, adaptive energy systems, information and communications networks, and networked appliances & assistive technologies.
The primary factors driving the growth of the global smart building market include increasing necessity for integrated security and safety solutions, rising demand for high operational efficiency in constructions and increasing government programs on smart building developments. In addition, rising electricity expenditures and increasing energy consumption have compelled proprietors for the smart buildings that are controlled by the automated systems and allow them to work effortlessly to prevent energy wastages are also supporting the market growth. However, High initial investment needed for well-integrated smart technologies is the restrain that would hamper the growth of the market. Moreover, increasing wave of smart cities and rising cloud based IoT platforms would generate profitable opportunities for the global smart building market.
The global smart building market is mainly classified on the basis of type, application and geography. Type segment is classified into building communication systems, parking management systems, elevators and escalators management system, plumbing and water management system, building energy management system (BEMS), and physical security system. Application segment is bifurcated into commercial buildings, institutional, airports, industrial, hospitality, residential buildings, and other applications.
Based on geography, smart building market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consists of UK, Russia, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into China, Japan, India, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Key players profiled in the report include Honeywell International Inc., Hitachi, Ltd., IBM, Schneider Electric, Johnson Controls, Johnson Controls, Emerson Electric Co, GENERAL ELECTRIC, DELTA CONTROLS, Cisco Systems, Inc., Ingersoll-Rand plc, Hewlett Packard Enterprise, and Accenture, among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Smart Building Market with respect to major segments such as type, application and geography.
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Smart Building Market has been included in the report
- Profile of the key players in the Global Smart Building Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Smart Building Market
- Building Communication Systems
- Parking Management Systems
- Elevators and Escalators Management System
- Plumbing and Water Management System
- Building Energy Management System (BEMS)
- Physical Security System
- Commercial Buildings
- Residential Buildings
- Other Applications
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East