Smart Building Market Size, Share, (By Component: Solution and Services; By Application: Commercial and Residential) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 - 2027
The global smart building market size was US$ 49.28 Bn in 2019 and expected to reach US$ 127.09 Bn by 2027, with a compound annual growth rate (CAGR) of 12.5% from 2020 to 2027.
The global smart building market report offers various segments analysis by size, trends, growth factors, opportunities and key country outlook to 2027. The report offers a detailed analysis and information as per smart building manufacturers, market segments helping our readers to get a comprehensive overview of the global market. Several players are planning to focus on developing cost-effective products or services, aiming to maintain a strong foothold in the market.
The company profiling of leading market players is included this report with Porter's five forces analysis and Value Chain analysis. Further, the strategies exercised by the companies for expansion of business through mergers, acquisitions, and other business development measures are discussed in the report. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market.
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.
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- 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.
Report Analyzes Market Opportunity By Following Region Regional Market Overview:
- North America (the United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
- South America (Brazil etc.)
- The Middle East and Africa (North Africa and GCC Countries)
Regional analysis is another highly comprehensive part of the research and analysis study of the global market presented in the report. This section sheds light on the sales growth of different regional and country-level markets. For the historical and forecast period to 2027, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Supply Chain Analytics market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Supply Chain Analytics market
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.
- Hitachi Ltd.
- Thales Group
- Emerson Electric Company
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It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and
Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews
of key industry participants. Insights from primary respondents help in validating the
secondary research findings. It also develops Research Team’s expertise and market
Industry participants involved in this research study include:
- CEOs, VPs, market intelligence managers
- Procuring and national sales managers technical personnel, distributors and resellers
- Research analysts and key opinion leaders from various domains
Segments Covered in the Report
- Security & Emergency Management
- Video Surveillance System
- Safety System
- Access Control System
- Building Infrastructure Management
- Elevators & Escalators System
- Parking Management System
- Smart Water Management System
- Energy Management
- Lighting Control System
- HVAC Control System
- Support & Maintenance
- System Integration & Deployment
- North America
- Asia Pacific
- South Korea
- Rest of the World