Smart Building Market 2020 Global Industry Trends and Forecast to 2027

Smart Building Market Size, Share, Growth, Trends Analysis, Market Demand, Business Opportunities, Consumption, Production, Revenue Status, Company Analysis, Regional Outlook and Forecasts, 2020 – 2027

Smart building applies sensors, microchips, and actuators to control and regulate air-conditioning, ventilation, lighting, heating, and other systems. It leverages integrated and advanced building technologies that include advanced telecommunications systems, building automation, facility management system, and fire safety equipment to improve comfort, safety, productivity of occupants. It can automatically manage the building systems as per the environmental condition, pre-set & variable schedules, and emergency events.Energy efficiency stays at the front of IoT Smart Building trends.

As per Precedence Research, the smart building market size was US$ 49.35 billion in 2020. It is projected to grow US$ 127.09 billion by 2027 at a CAGR of 12.5% from 2020 to 2027. The report contains 150+ pages with detailed analysis.

The report provides the overall revenue of the global smart building market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year. The study includes drivers and restraints of this global market. It offers a thorough analysis of the market revenue status, growth, future trends, and forecast of the global smart building market for the period from 2016 to 2027.

Request PDF Sample Copy Report: (Including TOC, List of Tables & Figures, and Chart) @ https://www.precedenceresearch.com/sample/1005

Growth Factors

Several laws and regulations imposed by the government of different countries have encouraged the smart usage of the buildings without compromising their safety and sustainability. The European Commission has submitted its nearly zero-energy buildings national plans, under which it describes its intention to increase the NZEBs by 2020. Furthermore, the UK government has also issued a directive under which it had planned to reduce the energy consumption in government building by 20%.This initiative was mainly focused towards reducing the carbon footprint along with energy consumption in building sector. Similarly, Asian countries and other regions government are take strong initiative for transforming traditional buildings into green building. For instance, Singapore has started zero energy building that is running entirely on solar power.

Report Highlights

• North America led the global smart building market in 2019 owing to emergence of smart building offering using advanced technologies such as big data, IoT, data analytics, cloud computing, artificial intelligence, and deep learning. Moreover, the U.S. and Canadian governments are significantly investing in smart building solutions to enhance energy efficiency and deliver smarter, sustainable, and safer buildings.
• Asia Pacific exhibits the fastest growth during the forecast period owing to rapid penetration IoT-enabled smart devices in the region. In addition, rising public awareness towards energy conservation laws and smart and reliable solutions for buildings and infrastructures are driving the market growth.
• Solutions segment led the global smart building market with remarkable revenue share in 2019. Rising popularity for smart building infrastructure management solutions are uplifting the segment growth. For instance, demand for smart and automated elevators and escalators have conquered nearly 60% of the revenue share in building infrastructure management segment.
• By application, commercial building held the major revenue share in the global smart building market in 2019 owing to initiatives taken by real estate sector and builder to modernize the commercial spaces to enhance public experience. On the contrary, residential sector expected to exhibit the fastest growth over the forecast period. The prime factor attributed to this is augmented awareness for energy conservation among public along with aesthetic and smart featured solutions trending in the market.

COVID-19 Impact:

The industrial report mentions the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The smart building report proficiently explains the resulting factors and concerns of manufacturers. Researchers have also well-explained how the producers and providers will tackle the ongoing epidemic and the key strategies to be adopted post-pandemic for turning their businesses back to normal.

Regional Snapshots

North America dominated the global smart building market in 2019 and projected to augment the market in the coming years. The prime factor attributed for its growth is technological advancement in the region along with government initiatives supporting smart and sustainable buildings & infrastructure. In addition, rising investment for the smart infrastructure in the region is another important factor accelerating the growth of the region. In March 2019, InnerSpace, an IoT-based smart building solution platform, announced that BDC Capital’s Women in Technology had funded USD 3.2 Mn in the company.

Asia Pacific projected as the most opportunistic region during the forecast period. The prime factor attributed to this is proliferating penetration of smart devices and advanced technologies in the region such as IoT, big data, and other new technologies. In 2019, the Asia Pacific expected to be the global leader in IoT spending with around 36% of the total spending across the globe. This in turn will exhibit the smart building market growth in the region.

Browse More Related Reports

Data Center Cooling Market – The global market was valued at US$ 9.79 billion in 2019 and expected to reach US$ 27.53 billion by 2027, with at a compound annual growth rate (CAGR) of 13.8% during the forecast period 2020 to 2027.

Smart Manufacturing Market – The global market was valued at USD 199.18 Billion in 2019 and expected to reach USD 489.66 Billion by 2027, with at a compound annual growth rate (CAGR) of 11.9% during the forecast period 2020 to 2027.

Contactless Payment Market – The global market value is expected to surpass over USD 4.60 trillion by 2027 and predicted to register a compound annual growth rate (CAGR) of around 20.01% during period 2020 to 2027.

Key Players & Strategies

The global smart buildingmarket is highly competitive owing to development and investment by established market players. In March 2019, Advantech Co. Ltd announced to introduce two new routers for smart building solution that are LTE Cat-M1 router and ICR-3211B. These routers are significantly applicable for energy management, building automation, and remote SCADA application. Besides this, market players are also engaged in merger and collaboration to develop next level smart building solutions. For instance, in March 2017, Huawei, a chinese technology provider announced its collaboration with Honeywell for developing smart building solutions using IoT that makes building more secure, sustainable, and energy efficient.

Some of the prominent players in the smart building market include:

• Siemens AG
• Schneider Electric
• ABB Ltd.
• Cisco Systems Ltd.
• IBM Corp.
• United Technologies
• Delta Controls
• Building IQ
• Johnson Controls
• Honeywell International Inc.
• Legrand
• Hitachi Ltd.
• Thales Group
• Accenture
• Emerson Electric Company

Segments Covered in the Report

This research report analyzes and predicts growth of market size at global, regional, and country levels. It also offers comprehensive study of the up-to-date industry developments in all of the sub-segments from 2016 to 2027. In order to study thoroughly this research study classified global smart building market depending upon different parameters such as component, application and region:

By Component

• Solution
  • Security & Emergency Management
    • Video Surveillance System
    • Safety System
    • Access Control System
    • Others
  • Building Infrastructure Management
    • Elevators & Escalators System
    • Parking Management System
    • Smart Water Management System
    • Others
  • Energy Management
    • Lighting Control System
    • HVAC Control System
• Services
• • • Support & Maintenance
    • System Integration & Deployment
    • Consulting

By Application

• Commercial
  • Retail
  • Hotel
  • Healthcare
  • Others
• Residential

By Geography

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Rest of the World

Why should you invest in this report?

If you are aiming to enter the global smart building market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for smart building are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Some of the key highlights covered in the report include:

• Market Demand-Supply Analysis – The report covers detailed insights into demand and supply forces prevailing in the global smart building market. It examines trends and factors influencing demand for smart building globally and gauges the impact of the same on the production.
• Pricing Analysis – The report presents an exclusive pricing analysis. It compares pricing strategies adopted by the leading market players and identifies the most remunerative strategies.
• Market Segmentation – The report segments the global market in terms of diverse criteria. It identifies the leading segment within each category and identifies growth drivers and restraints affecting growth across each segment.
• Regional Analysis – The report segments the market in terms of North America, Europe, Latin America, Asia Pacific, and Rest of the World in terms of region. It has chapters exclusively dedicated to analyzing growth trends across each region. It identifies growth drivers as well challenges affecting demand for smart building across the world.
• Competitive Analysis – Some of the leading market players are profiled in the report on smart building. The report offers an estimation of share individually help by the market players and determines the impact of some of their popular strategies.

Key Topics Covered:

Chapter 1: Introduction

Chapter 2: Research Methodology

Chapter 3: Executive Summary

Chapter 4: Market Variables and Scope

Chapter 5: Market Dynamics Analysis and Trends

Chapter 6: Competitive Landscape

Chapter 7: Global Smart Building Market, By Component

Chapter 8: Global Smart Building Market, By Application

Chapter 9: Global Smart Building Market, Regional Estimates and Trend Forecast

Chapter 10: Company Profiles

Chapter 11: Research Methodology

Chapter 12: Appendix

Download this Premium Research Report@ https://www.precedenceresearch.com/checkout/1005

About Us:

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semiconductors, chemicals, automotive, and among different ventures present globally.

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@precedenceresearch.com