Smart Building Market Global Scenario, Market Size, Outlook, Trend, and Forecast, 2019 – 2028

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Smart Building Market
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Smart Building Market Global Scenario, Market
Size, Outlook, Trend, and Forecast, 2019 2028

• The global smart building market was valued at
  US 58.96 billion in 2020 and is estimated to
  reach predictable to reach US 267.83 billion by
  2028 growing at a compound annual growth rate
  (CAGR) of 21.7 during the forecast period from
  2021- 2028. Smart building involves installation
  and usage of advanced and integrated system which
  includes telecommunication, life safety for fire
  crisis, building automation, lighting, HVAC,
  water supply and other related systems. These
  buildings are designed based on different
  approaches.

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Market Dynamics

• Demand of IoT- based building system is growing,
  awareness for efficient space utilization, energy
  efficient systems, building by laws structure
  along with standards and regulations are the
  major drivers for increasing demand of smart
  building market. Initiatives led by government
  for Building Energy Management System,
  Intelligent Security System and Infrastructure
  Management System, demand of higher consumption
  of energy are expected for advanced and efficient
  technology to reduce the carbon footprints.
  However, lack of helpful coordination including
  concerns for security and data privacy are the
  restraining factors for smart building market.
  Also, lack of skilled personnel for smart
  building construction restrains the market rise.
  Hackers can infiltrate into the network and snip
  valuable data or take control like cybercriminals
  intrude passenger lifts, gain access to security
  feeds from CCTV and disrupt power supplies of
  entire structure. Moreover, well-planned cyber
  threat may expose data storage, servers, and
  employee or customer information which could be
  used for nasty purposes. According to IoT and
  smart building report available by IBM, 50 of
  water and energy is consumed by commercial and
  real estate buildings. In addition, reports by
  Schneider Electric Whitepaper shows 36 carbon
  emission comes from buildings.

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• The global smart building market is segmented
  based on solutions, building type, services and
  region. By solution, it is categorised into
  building infrastructure management, security and
  emergency management, IWMS, energy management and
  network management. Based on solution, it is
  bifurcated into residential, commercial and
  industrial. On the basis of services, it is
  categorised support, consulting maintenance and
  integration deployment. On regional insights,
  it is categorized into North America (US, Canada,
  Rest of North America), Asia Pacific (China,
  India, South Korea, Rest of Asia Pacific), Europe
  (UK, Russia, Germany, Rest of Europe), Rest of
  the World (Latin America and Middle East
  Africa).
• Key players involved in the global smart building
  market includes General Electric, ASEA Brown
  Boveri Group, Phoenix Energy Technologies, Cisco
  Systems Inc., Honeywell International
  Inc., Johnson Controls, Inc., EFT Energy, Grid
  Point, Inc., eSight Energy, Inc. and IBM
  Corporation among others.

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Segmentation and Scope of the Global Smart
Buildings Market

• Global Smart Buildings Market is segmented
  into type, application, services and region.
• By Solutions
• Building infrastructure Management
• Security and Emergency Management
• Energy Management
• Network Management
• IWMS
• Parking Management System
• Smart Water Management System
• Elevators and Escalators Management System
• Access Control System
• Video Surveillance System
• Safety System
• HVAC Control System
• Lighting System

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• By Building Type
• Residential
• Industrial
• Commercial
• Office buildings
• Retail and public assembly buildings
• Hospital and healthcare facilities
• Airports and railway stations
• Others.
• By Services
• Consulting
• Integration and deployment
• Support and maintenance

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• By Region
• North America
• US
• Canada
• Rest of North America
• Europe
• UK
• Germany
• Europe
• Italy
• Rest of Europe
• Asia Pacific
• Japan
• China
• South Korea
• Rest of Asia Pacific
• Rest of World
• Middle East Africa
• Saudi Arabia

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Prominent players in the Global Smart Building
market includes

• General Electric
• ASEA Brown Boveri Group
• Phoenix Energy Technologies
• Cisco Systems Inc.
• Honeywell International Inc.
• Johnson Controls, Inc.
• EFT Energy
• Grid Point, Inc.
• eSight Energy, Inc.
• IBM Corporation

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