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Global Smart Building Market: By Component: Solutions, Services; By Type: Building Infrastructure Management (BIM), Security and Emergency Management, Energy Management, Others; By Building Type; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Smart Building Market Outlook
The global smart building market reached a value of about USD 18 billion in 2020. The industry is further expected to grow at a CAGR of about 30% in the forecast period of 2021-2026 to reach a value of around USD 83 billion by 2026.
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Increasing Demand for Energy Management Systems to Bolster the Smart Building Industry Expansion
Based on type, the energy management segment holds a major share in the global market. This can be attributed to the necessity of reducing energy associated costs. The growing demand for smart building management solutions due to their remarkable features, such as monitoring and minimisation of the total energy consumed, is expected to spur the growth of the energy management segment. Moreover, the increasing popularity of energy management systems due to the increasing focus on energy conservation and savings is spearheading current and future growth prospects. Meanwhile, the network management segment is anticipated to grow significantly in the forecast period owing to the proliferating need for remote monitoring and surveillance and the growing demand for communication systems.
North America to Dominate the Smart Building Industry Growth
North America holds a prominent share in the market and is expected to dominate the industry owing to the increasing investments in effective management of energy and water resources and the growing focus on safety and cost reduction. The development of smart building solutions with innovative technologies such as IoT, data analytics, cloud computing, and others, and the increasing infrastructure investments across the region have significantly contributed to the industry growth.
Smart Building: Industry Definition and Segmentation
A smart building is a structure that automates its processes to automatically control several building operations such as infrastructure, heating, lighting, security systems, air conditioning systems, and more. A smart building is mostly equipped with advanced devices such as microchips, sensors, and others, to make buildings more safer and efficient and reduce costs at the same time. It is designed to ease human lives by using complex and advance technology. It helps to improve performance, increase comfort, and reduce environmental degradation. These include residential buildings, industrial and governmental buildings, commercial buildings, and public infrastructure buildings.
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Based on component, the market is bifurcated into:
- Solutions
- Services
Based on type, the industry can be segmented into:
- Building Infrastructure Management (BIM)
- Security and Emergency Management
- Energy Management
- Network Management
- Workforce Management
- Others
By building type, it is categorised as:
- Residential
- Commercial
- Industrial
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Adoption of IoT Enabled Management Systems to Aid the Growth of the Smart Building Industry
The increasing penetration of IoT-enabled building management systems and the growing preference for energy-efficient systems are driving the growth of the smart building industry. In addition, the increasing awareness of space utilisation and the development of smart city projects are expected to provide promising opportunities for the industry's growth. Innovative technologies, such as sensors, smart thermostats, and HVAC and controls for lightings, help reduce energy usage in empty offices, conference rooms, and other places. Moreover, the increasing adoption of eco-friendly infrastructure has also facilitated the market growth. However, major complexities that are involved and high investment costs may hamper the smart building industry growth.
Key Industry Players in the Global Smart Building Market
The report gives a detailed analysis of the following key players in the global smart building market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- ABB Ltd.
- Honeywell International Inc.
- Siemens AG
- Huawei Technologies Co., Ltd.
- Schneider Electric
- Legrand
- Cisco Systems, Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Smart Building Market Analysis
8.1 Key Industry Highlights
8.2 Global Smart Building Historical Market (2016-2020)
8.3 Global Smart Building Market Forecast (2021-2026)
8.4 Global Smart Building Market by Component
8.4.1 Solutions
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2016-2020)
8.4.1.3 Forecast Trend (2021-2026)
8.4.2 Services
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2016-2020)
8.4.2.3 Forecast Trend (2021-2026)
8.5 Global Smart Building Market by Type
8.5.1 Building Infrastructure Management (BIM)
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2016-2020)
8.5.1.3 Forecast Trend (2021-2026)
8.5.2 Security and Emergency Management
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2016-2020)
8.5.2.3 Forecast Trend (2021-2026)
8.5.3 Energy Management
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2016-2020)
8.5.3.3 Forecast Trend (2021-2026)
8.5.4 Network Management
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2016-2020)
8.5.4.3 Forecast Trend (2021-2026)
8.5.5 Workforce Management
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2016-2020)
8.5.5.3 Forecast Trend (2021-2026)
8.5.6 Others
8.6 Global Smart Building Market by Building Type
8.6.1 Residential
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2016-2020)
8.6.1.3 Forecast Trend (2021-2026)
8.6.2 Commercial
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2016-2020)
8.6.2.3 Forecast Trend (2021-2026)
8.6.3 Industrial
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2016-2020)
8.6.3.3 Forecast Trend (2021-2026)
8.6.4 Others
8.7 Global Smart Building Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 ABB Ltd.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Honeywell International Inc.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Siemens AG
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Huawei Technologies Co., Ltd.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Schneider Electric
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Legrand
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Cisco Systems, Inc.
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 Others
13 Industry Events and Developments
List of Figures and Tables
1. Global Smart Building Market: Key Industry Highlights, 2016 and 2026
2. Global Smart Building Historical Market: Breakup by Component (USD Billion), 2016-2020
3. Global Smart Building Market Forecast: Breakup by Component (USD Billion), 2021-2026
4. Global Smart Building Historical Market: Breakup by Type (USD Billion), 2016-2020
5. Global Smart Building Market Forecast: Breakup by Type (USD Billion), 2021-2026
6. Global Smart Building Historical Market: Breakup by Building Type (USD Billion), 2016-2020
7. Global Smart Building Market Forecast: Breakup by Building Type (USD Billion), 2021-2026
8. Global Smart Building Historical Market: Breakup by Region (USD Billion), 2016-2020
9. Global Smart Building Market Forecast: Breakup by Region (USD Billion), 2021-2026
10. North America Smart Building Historical Market: Breakup by Country (USD Billion), 2016-2020
11. North America Smart Building Market Forecast: Breakup by Country (USD Billion), 2021-2026
12. Europe Smart Building Historical Market: Breakup by Country (USD Billion), 2016-2020
13. Europe Smart Building Market Forecast: Breakup by Country (USD Billion), 2021-2026
14. Asia Pacific Smart Building Historical Market: Breakup by Country (USD Billion), 2016-2020
15. Asia Pacific Smart Building Market Forecast: Breakup by Country (USD Billion), 2021-2026
16. Latin America Smart Building Historical Market: Breakup by Country (USD Billion), 2016-2020
17. Latin America Smart Building Market Forecast: Breakup by Country (USD Billion), 2021-2026
18. Middle East and Africa Smart Building Historical Market: Breakup by Country (USD Billion), 2016-2020
19. Middle East and Africa Smart Building Market Forecast: Breakup by Country (USD Billion), 2021-2026
20. Global Smart Building Market Structure
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