The global smart buildings market size is expected to reach USD 141.71 Billion in 2028 and register a revenue CAGR of 9.9% over the forecast period, according to the latest report by Emergen Research. Increasing number of smart cities across the globe and rising adoption of IoT-enabled Building Management Systems (BMS) and deployment of embedded sensors in buildings and devices are driving global smart buildings market revenue growth.
Smart buildings function on advanced digital technologies, algorithms, and building analytics, which mutually benefits tenants, building owners, and management operators. Building analytics converts data created by IoT-enabled building management systems into intelligence, which enables building owners to identify threats, enhance tenant comfort level, and identify cost saving opportunities. Building analytics increases tenant safety and security and helps to lower operating cost, which in turns give higher satisfaction.
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Increasing investment in smart technologies helps to increase efficiency of smart buildings. Intelligent buildings allows leveraging of the latest innovations in an intuitive way. Smart buildings with automated door opening, voice control devices, and fall detection provide comfortable and easier accessibility for disabled persons. Increasing need for more efficient space utilization and enhanced energy efficiency and sustainable buildings are some other key factors driving growth of the global smart buildings market.
The global Smart Buildings Market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Smart Buildings Market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Some major companies in the global market report include Cisco Systems, Inc., Honeywell International Inc., Johnson Controls Internationals, Hitachi Ltd., Schneider Electric, ABB Ltd., Legrand, Siemens AG, Robert Bosch GmbH, and Telit.
Key Benefits of the Report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
In-depth 8-year analysis of the Global Smart Buildings Market
Critical understanding of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market
Emergen Research has segmented the global smart buildings market on the basis of automation type, service type, building type, and region:
Automation Type Outlook (Revenue, USD Billion; 2018–2028)
Building Management System (BMS)
Heating, Ventilation, and Air Conditioning (HVAC)
Lightning Control System
Emergency Alarm and Evacuation System
Audio and Visual Effects
Video Surveillance System
Elevators and Escalators Systems
Fire and Life Safety Alarm
Service Type Outlook (Revenue, USD Billion; 2018-2028)
System Integration and Deployment
Support and Maintenance
Building Type Outlook (Revenue, USD Billion; 2018–2028)
Governmental and Public Infrastructure Facilities
Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Regional Outlook of Smart Buildings Market:
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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