Global Smart Building Market estimated to Reach US$ 33,547.3 Mn by 2026, Due to Increasing Demand for Integrated Security & Safety Systems

Buildings equipped with structured wiring that enables occupants control a range of electronic home equipment from a remote location are termed as smart buildings. These electronic devices can be programed by entering a single and simple command. Emergence of smart building has enabled homeowners to program their entertainment system, control home or building lighting system, switch on and off home appliances and other tasks. Smart building aids in lowering the operating costs, carbon emission as well as energy consumption.

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Smart Building Market is Consolidated as Multiple Large Organizations are Investing on Smart Building IoT Platforms

Smart Building Market Participants include Siemens AG, ABB Group, Cisco Systems, Schneider SE, United Technologies Corporation, Building, Inc., Honeywell International, IBM Corporation, Johnson controls, Delta Controls, among others. For instance, On Oct 1, 2017, Schneider Electric launched EcoStruxure Building, a new platform designed to support the management of smart buildings. This new solution integrates both system and application data covering an entire building operation into one single interface. 

The energy management segment is projected to grow with the most rapid growth rate from 2019 to 2027. Energy management solutions for smart building help to reduce and monitor the energy consumption of the building. Keeping operational expenses low is a continuous challenge for owners and managers of multistory buildings, schools, or building complexes. Some of the infrastructure available for managing energy in buildings is designed for large systems and not for managers with smaller budgets, resulting in high costs of adoption and integration.

IoT enables the connectivity of devices and data to deliver better insight on operations and equipment to direct changes for corporate goals. Furthermore, IoT is a significant concept when considering energy management and operational efficiency for business, because these technologies give new insight into smaller facilities as it is a pathway to cost-effective technology deployment.

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KEY BENEFITS FOR STAKEHOLDERS

  • The report provides a comprehensive analysis of current & future market trends and emerging avenues for the growth of the market across the globe
  • The report offers insights on competitive landscape, new technological developments, untapped segments
  • Value chain analysis of technology suppliers, original equipment manufacturers, system integrators, and key operators is offered in the report
  • This report entails the detailed quantitative analysis of the current market and estimations through 20152020, which assists in identifying the prevailing market opportunities
  • The report offers strategic analysis of financial status of key market players, and highlights market share of key vendors

Europe is Expected to Account for the Largest Market Share in the Smart Building Market During the Forecast Period from 2017-2026

Europe is expected to account for the largest Smart Building market share during the forecast period due to the increased initiatives by the region’s governments to build smart and intelligent structures. Also, with the increasing technological developments and adoption of new infrastructure security & services, this region is projected to boost the market.

  • Smart Building Market - By Automation Type
    • Energy Management
    • Intelligent Security Systems
    • Infrastructure Management
    • Network & Communication Management
  • Smart Building Market By Services
    • Professional Services
    • Managed Services
  • Market By Application
    • Commercial
    • Residential
    • Government
    • Airports
    • Hospitals
    • Institutes
    • Manufacturing & Industrial Facilities
    • Others 
  • Smart Building Market By Region
    • North America
      • U.S.
      • Rest of North America
    • Europe
      • France
      • The UK
      • Spain
      • Germany
      • Italy
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Southeast Asia
      • Rest of Asia Pacific
    • Middle East and Africa
      • GCC Countries
      • Southern Africa
      • Rest of Middle East and Africa
    • Latin America
      • Brazil
      •  Rest of Latin America

 

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