Smart Building Market: Industry Trends, Market Segments, Landsc

  • Smart Building Market 2021

    Global Smart Building Market estimated to Reach US$ 33,547.3 Mn by 2022, Due to Increasing Demand for Integrated Security & Safety Systems

    Integrated communication and control systems provide a flexible, effective, comfortable, and secure building environment for operators and occupants. Integrated communication increases building functionality by allowing operators to use a single interface to control an entire network of building automation systems. Intelligent building technology utilizes building automation systems to improve and control many operations. Growing need for integrated security and safety systems in buildings and the implementation of the IoT platform in building automation technology are expected to drive the growth of the smart building market.

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    Major Key Players:

    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. 

    Key findings of the report:

    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.

    Commercial buildings include office buildings, retail infrastructures such as malls, shopping stores, and others. All these buildings have huge utilization of energy and require high-tech security systems and thus commercial buildings have increased utilization of the automated systems. It also helps to create and maintain a safer and more secure, productive and comfortable environment as cost-effectively as possible. The commercial buildings segment accounted for the largest share in 2017 and is expected to retain its dominance throughout the forecast period 2018-2026.

    Market Segmentation

    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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