Global Smart Buildings Market Size, Share

Industry Insights

[223+ Pages Report] The latest findings and offering on the smart buildings market released by Facts & Factors provides complete historical and future market study. We at facts and factors estimate that the global smart buildings market will be valued at USD 65.3 Billion in the year 2020 and will grow at an estimated CAGR rate of 10.8% to an overall value of USD 106.2 Billion by 2026.

Market Overview

Smart buildings are infrastructure that have the capability to incorporate an automated process that can control the building’s operations in terms of heating, ventilation, air conditioning, lighting, security, and other ranges of systems from time to time. These building structures use sensors, actuators, and microchips in order to collect an array of data in order to regulate the intended settings and controls. Smart buildings improve asset reliability and performing by reducing energy usage and often incorporating how space is utilized in the most efficient manner.

Industry Growth Factors

The primary driving factors for the global smart building market contributes to the rising adoption of IoT based building management systems coupled with increasing awareness about space utilization to name a few. Additionally, rising industry standards and regulation coupled with increasing demand for managing energy effectively is expected to increase the global smart building market during the advent of the forecast. Moreover, the rising demand from the sector of facility occupants coupled with the increasing integration of smart buildings for new office environments is expected to boost the global smart building market during the advent of the forecast.

The global smart building market is expected to be driven by factors pertaining to the rising need for safety and security coupled with reducing operational and maintenance costs to name a few. Additionally, factors attaining to reducing carbon dioxide (CO2) levels with proper implementation of smart building systems coupled with a rising number of initiatives and regulations by various government bodies are expected to boost the global smart building market during the advent of the forecast period.However, a lack of global coordination in regards to a common set of rules and regulations is expected to hamper the growth of the global smart building market during the forecast period.

Segmentation Analysis

The global smart building market is segmented intoproducts,building type, and region.

The global smart building market is divided intolighting, safety & security, monitoring, heating, ventilation & air conditioning (HVAC), energy management, emergency systems, and car parking management systems, and otherson the basis of products. The segment pertaining to energy management systems is expected to witness the largest market share during the advent of the forecast owing to rising demands for a reduction in energy-associated costs associated with buildings, schools, and buildings coupled with increased functionalities by continuous real-time monitoring of systems to name a few. On the basis of building type, theglobal smart building market is categorized into residential, commercial, and industrial. The commercial segment is expected to occupy the largest market share during the advent of the forecast owing to the increasing demand for appropriate and tailor-made solutions for optimized energy solutions from the commercial sector coupled with increasing comfort & security measures to name a few.

Report Scope

Regional Analysis

North America is expected to witness the largest market share during the advent of the forecast owing to integration of advanced technologies such as IoT, big data, cloud computing, data analytics, and deep learning & AI solutions within smart building systems coupled with rising regulatory hurdles towards increasing consumer sustainability standards to name a few. Additionally, an increasing amount of population contributing to technological advancements in the region coupled with rising demand for leveraging smart building systems forregulating energy and storage needs is expected to increase the footprint of the smart building market during the forecast period. Moreover, rising government support formaking smart building solutions more accessible and cost-effective is expected to open new revenue opportunities for the smart building market during the forecast period. Europe is expected to witness the subsequent market share owing to increasing number of service providers in the region coupled with increasing adoption of smart building systems in the region.

Competitive Players

The key market participants for the global smart building market are 75F, ABB, Aquicore, Bosch, BuildingIQ, Cisco, CopperTree Analytics, ENTOUCH, Hitachi, Honeywell, Huawei, IBM, Igor, Intel, Johnson Controls, KMC Controls, Legrand, Mode:Green, PTC, Schneider Electric, Siemens, Softdel, Spaceti, Telit, Verdigris Technologies, and Emerson Electric Co. Ltd., among others.

By Product Segment Analysis

• Lighting
• Safety & Security
• Monitoring
• Heating, Ventilation & Air Conditioning (HVAC)
• Energy Management
• Emergency Systems
• Car Parking Management Systems
• Others

By Building Type Segment Analysis

• Residential
• Commercial
• Industrial