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.
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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.
The Smart Buildings Market research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on a detailed analysis of the technological and product developments undertaken by these companies.
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.
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Key Highlights from the Report
In January 2020, Johnson Controls International announced the launch of new commercial Rooftop Units (RTUs), which will exceed Department of Energy (DoE) energy efficiency standards of smart buildings by 22%.
New commercial rooftop units will help to maximize control, extend smart building equipment life, and reduce operating cost.
Lightning control system segment accounted for significantly large revenue share in 2020 owing to smart time scheduling and daylight harvesting, which helps to save energy.
It also helps to analyze patterns of movements and show areas of congestion, and frequently used paths.
The global Smart Buildings market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Smart Buildings market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
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
Highlights of Table of Contents (TOC):
Overview of Global Smart Buildings Market
Competitive analysis of the Smart Buildings market
Regional analysis of Global Smart Buildings market production and revenue
Regional analysis of Global Smart Buildings market supply, consumption, and export & import
Type-based market analysis of global Smart Buildings production, revenue, and price trends
Application-based analysis of the global Smart Buildings market
Manufacturer profiles, manufacturing cost, and upstream and downstream analysis of global Smart Buildings market
Global Smart Buildings market forecast (2021-2028)
Conclusion of the research report
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