Smart Buildings Market by Component (Hardware, Software, Services) by Solutions (Building Infrastructure Management, Security and Emergency Management, Energy Management), by End-user (Residential, Commercial, Industrial) by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2020 to 2027)

Smart Building Market - Global Industry Analysis and Forecast 2020 to 2027

Smart Building Market: Summary

The Global Smart Buildings Market is projected to reach a value of USD 1,30,422.37 million by 2027 at a CAGR of 11.9%

Smart Buildings are enabled with technologies for automated control of the building operations. Such infrastructure reduces human control by enhancing energy efficiency, promotes sustainability, and increase occupant comfort. The global Smart Buildings market is growing at a rapid pace owing to the higher adoption rate of energy-saving technologies to minimize energy usage. Rapid implementation of the Internet of Things (IoT) in the Building Automation Technology for hassles free updates, reducing cost and environmental footprint, with overall facility management is further fueling the market growth. However, constantly escalating privacy and security concerns hamper market growth.

Smart Buildings Market

Smart Buildings Market: Market Dynamics

Market Driver:

  • Growing Adoption of Energy Saving Technologies
    • With the advent of new and novel methods of building planned, constructed, and managed is experiencing a huge shift from the conventional energy-demanding technology towards energy efficient one.
    • The smart building is constructed by using information and communication technologies (ICT) for enhancing overall building automation and control.
    • It involves smart lighting, smart heating, ventilation, and air conditioning (HVAC) system, automated system optimization, window shading, daylighting controls, smart power strips, and smart plugs, BMS, and others that promote the energy-saving up to 40% compared to conventional buildings
    • Increasing issues regarding high energy consumption in the building infrastructure especially the HVAC and lighting across the commercial and residential buildings is driving the demand for smart building.
    • As per the Quadrennial Technology Review 2015 by the Department of Energy of the United States of America, major energy consuming areas in the buildings are heating, ventilation, and air conditioning accounting for 35% of total building energy; lighting for 11% of the total building energy
    • New legislation by the federal agencies of developed economies for reducing energy use in combination with the rising interest in sustainability is creating higher affinity towards smarter buildings for less operating cost and low energy usage.

 

  • Implementation of IoT Platform In The Building Automation Technology

Market Restraint:

  • Rising Privacy and Security Concerns

Market Opportunities:

  • Growing Demand for Smart Cities Project Across the Globe   
    • Implementing smart city design provides numerous energy saving as well as return on investment for its population.
    • It includes efficient traffic management, better urban planning with the development of energy-efficient and sustainable infrastructures, among others.
    • Due to this factor, the demand for smart cities projects are on the rise worldwide.
    • Increased urbanization in the especially in the emerging nations is driving the demand for smart cities. As per the United Nations data, by 2030, 60% of the global population would be residents in cities, with one out of three individuals will live in a city with a population of half a million or more.
    • The research report by the U.S.-China Economic and Security Review Commission published in January 2020, states China has around 800 smart cities pilot programs underway or in pipeline accounting for more than half of the total smart cities around the world.
    • Owing to favorable investment, technology adoption and increasing urbanization resulting into smart cities projects, in turn, creates immense opportunity for the smart building market.
  • Increasing Awareness About Energy Consumption
  • The emergence of 5G Technology

Smart Buildings Market: Key Segments

The Smart Buildings market is majorly segmented into components, solutions, and end-user. 

On the basis of components, the market is bifurcated into hardware, software, and services. Hardware is segmented into sensors and cameras, controllers, and other devices. Sensors and cameras are sub-segmented into sensors and cameras. Sensors are categorized into temperature sensors, motion /occupancy sensors, electrical current monitoring sensors, humidity sensors, gas/air quality & smoke sensors, and others. In 2019, hardware dominated the component segment and is projected to grow till USD 56,551.3 million by 2027. The growth of the segment is attributed to increasing demand for cameras, controllers, actuators, and sensors for improving occupant comfort.

On the basis of solutions, the market is sub-segmented into building infrastructure management, security and emergency management, and energy management. Building infrastructure management is segmented into smart water management systems, parking management systems, and others. Security and emergency management is classified into access control system, video surveillance system, and safety system. Energy management is sub-segmented into HVAC control system and lighting control system.

On the basis of end-user, the market has been segmented into residential, commercial, and industrial. The commercial segment is further segmented into office, retail, hotels & restaurants, healthcare, transportation, educational institutes, and others. The office segment dominated the commercial end-user segment accounting for 51.3% in 2019 and is projected to grow at the fastest CAGR of 12.4% between the study period.

Smart Buildings Market: Key Regions

SMART BUILDINGS MARKET

On the basis of region, the market is divided into North America, Europe, Asia Pacific, Latin America, Middle East & Africa. North America dominated the smart building market by accounting for 38.2% of the total market share. Increasing adoption of smart cities with favorable investment for building automation is driving the market growth in North America. The Asia-Pacific emerged as the fastest-growing region growing at a CAGR of 14.1% in the review period, owing to the rising construction of the automated building in China, a prominent contributor in the Asia-Pacific market.

Smart Buildings Market: Report Scope

The report on the smart building market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report Features

Specifics

Historical/Estimated/Forecasted Market Size Years

2019-2027

Base Year for Market Calculation

2020

Forecasted Period

2021-2027 (2021 estimated year, forecasted up to 2027)

Measured Units

Value (USD Million)

Segments Included

Component, Solution, End-User, and Region

Regional Coverage

North America, Asia-Pacific, Europe, Middle East & Africa, South America

Key Companies Covered

  • 75F (Company Overview, Financial Overview, Product Synopsis, Key Developments, SWOT Analysis, & Key Strategy)
  • ABB
  • CISCO SYSTEMS, INC.
  • HITACHI, LTD.
  • HONEYWELL INTERNATIONAL INC.
  • HUAWEI TECHNOLOGIES CO., LTD.
  • IBM CORPORATION
  • INTEL CORPORATION
  • JOHNSON CONTROLS INTERNATIONAL PLC
  • POINTGRAB INC
  • PTC
  • SCHNEIDER ELECTRIC
  • SIEMENS
  • SPACEWELL INTERNATIONAL
  • TELIT
  • Other Key Companies

Smart Building Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Smart Buildings Market, by Component

  • Hardware
    • Sensors and Camera
      • Sensors
        • Temperature Sensors
        • Motion / Occupancy Sensors
        • Electrical Current Monitoring Sensors
        • Humidity Sensors
        • Gas/Air Quality & Smoke Sensors
        • Others
      • Camera
    • Controllers
    • Other Devices
  • Software
  • Services
    • System Integration And Deployment
    • Support And Maintenance
    • Consulting

Smart Buildings Market, by Solutions

  • Building Infrastructure Management
    • Smart Water Management System
    • Parking Management System
    • Others
  • Security And Emergency Management
    • Access Control System
    • Video Surveillance System
    • Safety System
  • Energy Management
    • HVAC Control System
    • Lighting Control System

Smart Buildings Market, by End-User

  • Residential
  • Commercial
    • Office
    • Retail
    • Hotels & restaurants
    • Healthcare
    • Transportation
    • Educational institutes
    • Others
  • Industrial

Smart Buildings Market, by Region

  • North America
    • US
    • Canada
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America 

Key Questions Answered By The Report

  • What are the prominent developments affecting the market worldwide and its growth?
  • What will be the impact of the developments in the market on the industry and on the market players in the future?
  • What are the evolving variations of the market globally?
  • What are the evolving functions of the market globally?
  • What are the prominent aspects that will affect market growth globally during the study period?
  • Who are the key players operating in the market across the globe?
  • How are the key players leveraging in the present market scenario worldwide?

Report Audience

  • Smart Building Market Providers
  • Smart Building Market Solution and Services Suppliers, Distributors and Dealers
  • End-Users of Varied Segments of Smart Building Market
  • Government Bodies and Intellectual Institutions
  • Associations and Industrial Organizations
  • Research & Consulting Service Providers
  • Research & Development Organizations
  • Investment Banks & Private Equity Firms

60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE Smart Building Market STUDY

  1. Market Introduction
    1. RESEARCH OBJECTIVES
    2. Definition
    3. Scope of the Study
    4. Market segmentation
    5. REGIONAL COVERAGE
    6. List of Assumptions
  2. Research Methodology
    1. INTRODUCTION
    2. sssDATA MINING
    3. Secondary Research
    4. Primary Research
    5. Forecast techniques
    6. Market Size Estimation
    7. DATA VALIDATION AND TRIANGULATION
  3. Executive Summary
    1. Market Attractiveness Analysis
      1. Global Smart BUILDINGS Market, by component
      2. Global Smart BUILDINGS Market, by solution
      3. Global Smart BUILDINGS Market, by End user
      4. Global Smart BUILDINGS Market, by Region
  4. Market Dynamics
    1. Introduction
    2. Drivers
      1. Implementation of IoT Platform in The BUILDINGS Automation Technology
      2. Growing Adoption of Energy Saving Technologies
    3. Restraints
      1. Rising Privacy and Security Concerns
    4. Opportunities
      1. Growing Demand for Smart Cities Project Across the Globe
      2. Increasing Awareness About Energy Consumption
      3. Emergence of 5G Technology
    5. Challanges
      1. High Initial Investment
      2. Lack of Skilled Professionals
  5. Market Factor Analysis
    1. VALUE CHAIN ANALYSIS/SUPPLY CHAIN ANALYSIS
    2. Porter’s Five Forces Model
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
    3. IMpact of COVID-19 on Smart BUILDINGS market
      1. Impact on Production
      2. Impact on Growth Rate
      3. Impact On Supply Chain
    4. smart BUILDINGS technologies
      1. INTERNET OF THINGS (IOT)
      2. artificial intelligence and machine learning
      3. VIRTUAL REALITY AND AUGMENTED REALITY
      4. BUILDINGS AUTOMATION
      5. OTHERS
  6. Global Smart BUILDINGS Market, by component
    1. Introduction
    2. Hardware
      1. smart Sensors and camera
        1. smart Sensors
          1. Temperature sensors
          2. Motion / occupancy sensors
          3. Electrical current monitoring sensors
          4. Humidity sensors
          5. Gas/Air Quality & Smoke Sensors
          6. Others
        2. camera
      2. Controllers
      3. Other Devices
    3. Software
    4. Services
      1. System Integration and Deployment
      2. Support and Maintenance
      3. Consulting
  7. Global Smart BUILDINGS Market, by solution
    1. Introduction
    2. BUILDINGS Infrastructure Management
      1. Smart Water Management System
      2. Parking Management System
      3. Others
    3. Security and Emergency Management
      1. Access Control System
      2. Video Surveillance System
      3. Safety System
    4. Energy Management
      1. HVAC Control System
      2. Lighting Control System
  8. Global Smart BUILDINGS Market, by end user
    1. Introduction
    2. Residential
    3. Commercial
      1. Office
      2. Retail
      3. Hotels & Restaurants
      4. Healthcare
      5. Transportation
      6. Educational Institutes
      7. Others
    4. Industrial
  9. Global Smart BUILDINGS Market, by region
    1. Introduction
    2. North America
      1. US
      2. Canada
    3. Europe
      1. Germany
      2. France
      3. UK
      4. Italy
      5. Spain
      6. Rest of Europe
    4. Asia-Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Australia
      6. Rest of Asia-Pacific
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
    6. Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East and Africa
  10. Competitive Landscape
    1. Introduction
    2. Competitive Analysis
    3. Composition BenchMarkeing
    4. Key Developments
  11. Company Profiles
    1. PointGrab Inc.
      1. Company Overview
      2. Financial Overview
      3. Compositions Offered
      4. Key Developments
      5. SWOT Analysis
    2. 75F
    3. ABB
    4. Cisco Systems, Inc.
    5. Hitachi, Ltd.
    6. Honeywell International Inc.
    7. Huawei Technologies Co., Ltd.
    8. IBM Corporation
    9. Intel Corporation
    10. Johnson Controls International PLC
    11. PTC
    12. Schneider Electric
    13. Siemens
    14. SPACEWELL INTERNATIONAL
    15. Telit
    16. Other Key Companies
  12. Appendix
    1. Discussion Blueprint

Note1: Tentative table of contents, may get updated during the course of research.

Note2: Company financial information is subject to availability in public domain

60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY

Rep Id : ICT 0108

Published : September, 2020


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