Smart Building Market Overview :
Global Smart Building Market is estimated to reach $81.6 billion by 2025; growing at a CAGR of 34.7% from 2017 to 2025. 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 restraint 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, building type, and geography. Type segment is classified into building automation software and services. Building type segment is bifurcated into residential buildings, manufacturing facilities, commercial buildings, government & public infrastructure facilities, university, school, & hospital buildings, and other building types.
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., Schneider Electric, Johnson Controls, Emerson Electric Co, General Electric, Delta Controls, Cisco Systems, Inc., Ingersoll-Rand plc, and Hewlett Packard Enterprise, 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 and building type
- 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 Automation Software
Building Type Segments
- Residential Buildings
- Manufacturing Facilities
- Commercial Buildings
- Government & Public Infrastructure Facilities
- University, School, & Hospital Buildings
- Other Building Types
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East