Smart Building Market Garner Growth 12.5% from 2020 to 2027

Precedence Research says that the global smart building market is growing with a compound annual growth rate (CAGR) of 12.5% from 2020 to 2027.

The global smart building market size was US$ 49.28 Bn in 2019 and expected to reach US$ 127.09 Bn by 2027.

Rising interest of the buyers in building technology that optimizes energy consumption and lowers the operating cost acts as the key drivers of the smart building market. Besides this, with many prominent vendors investing in cutting edge solution for smart home has also added to the popularity of the industry. However, high cost of installation coupled with concerns over interoperability & lack of proper adherence to standards has hindered smart building market growth. Nonetheless, the growing adoption rate of smart building technology in commercial sectors such as hospitality industry and airports would create greater opportunities for the market in years to come.

The new regulations imposed by government authorities for construction operations and usage of buildings without compromising on the sustainability aspect will create new growth opportunities for the Smart Building Market trends. For instance, The European Union (EU) established several directives to enhance the energy performance of buildings and to meet their goal of constructing new zero-energy buildings (NZEB) by the end of 2020. Additionally, the UK government has shifted its focus towards constructing smart buildings to reduce the carbon footprint and reduce energy consumption from the building sector.

Buildings equipped with structured wiring that enables occupants control a range of electronic home equipment from a remote location are termed as smart buildings. These electronic devices can be programed by entering a single and simple command. Emergence of smart building has enabled homeowners to program their entertainment system, control home or building lighting system, switch on and off home appliances and other tasks. Smart building aids in lowering the operating costs, carbon emission as well as energy consumption.

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Report Highlights

North America was valued at USD 15.29 Billion in 2018 and is expected to reach USD 34.22 Billion by 2026 owing to the adoption of smart building solutions, including IoT, cloud computing, big data, data analytics, deep learning, and AI.

The contract signed by Siemens Saudi Arabia and the Tarshid, National Energy Services company for reducing carbon emissions by 43,00 tons will augur well for the Smart Building Market.

The rising awareness regarding the advantages of smart buildings, as it leverages sensors, cloud technology, and IoT connectivity to manage, monitor remotely, and control a range of building systems from heating. This factor will fuel demand, which, in turn, will boost the Smart Building Market revenue during the forecast period.

Scope of the Report

A recent study by Precedence Research on the smart building market offers a forecast for 2020 and 2027. The study analyzes crucial trends that are currently determining the growth of the smart building market. This report explicates on vital dynamics such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of smart building. The study also provides the dynamics that are responsible for influencing the future status of the smart building market over the forecast period.

A detailed assessment of the smart building market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the smart building market along with their product portfolio enhances the reliability of this comprehensive research study.

In this study, the years considered to estimate the market size of smart building are as follows:

· History Year: 2016-2019

· Base Year: 2019

· Estimated Year: 2020

· Forecast Year 2020 to 2027

Report Summary

The study offers a comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales in the smart building market across the globe.

A comprehensive estimate on the smart building market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of smart building during the forecast period. Price point comparison by region with global average price is also considered in the study.

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Market Size Evaluation

The smart building market has been analyzed for each market segment in terms of volume (kilo tons) and value (US$ Bn).

Market estimates at global and regional levels for smart building are available in terms of “US$ Bn” for value and in “kilo tons” for volume. A Y-o-Y growth contrast on prominent smart building market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global Smart building market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the smart building market report, which have helped deliver projections on regional markets. These chapters include regional macros (political economic and business environment outlook), which are expected to have a momentous influence on the growth of smart building market during the forecast period.

Country-specific valuation on demand for smart building has been offered for each regional market, along with market scope estimate sand forecasts, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

Segmentation

By Component

Solution

Security & Emergency Management

Video Surveillance System
Safety System
Access Control System
Others

Building Infrastructure Management

Elevators & Escalators System
Parking Management System
Smart Water Management System
Others

Energy Management

Lighting Control System
HVAC Control System

Services

Support & Maintenance
System Integration & Deployment
Consulting

By Application

Commercial

Retail
Hotel
Healthcare
Others

Residential

By Geography

North America

U.S.
Canada

Europe

U.K.
Germany
France

Asia Pacific

China
India
Japan
South Korea

Rest of the World

In-Depth Analysis on Competitive Landscape

The report sheds light on leading manufacturers of smart building, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of smart building has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolio, key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting market status and predicting the competition level in the smart building market.

Some of the prominent players in the smart building market include:

Siemens AG
Schneider Electric
ABB Ltd.
Cisco Systems Ltd.
IBM Corp.
United Technologies
Delta Controls
Building IQ
Johnson Controls
Honeywell International Inc.
Legrand
Hitachi Ltd.
Thales Group
Accenture
Emerson Electric Company

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Table of Content

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Smart Building Market, By Component

7.1. Smart Building Market, by Component Type, 2020-2027
7.1.1. Solution
7.1.1.1. Security & Emergency Management
7.1.1.2. Building Infrastructure Management
7.1.1.3. Energy Management
7.1.1.4. Market Revenue and Forecast (2016-2027)
7.1.2. Services
7.1.2.1. Support & Maintenance
7.1.2.2. System Integration & Deployment
7.1.2.3. Consulting
7.1.2.4. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Smart Building Market, By Application

8.1. Smart Building Market, by Application, 2020-2027
8.1.1. Commercial
8.1.1.1. Hotel
8.1.1.2. Retail
8.1.1.3. Healthcare
8.1.1.4. Others
8.1.1.5. Market Revenue and Forecast (2016-2027)
8.1.2. Residential
8.1.2.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Smart Building Market, Regional Estimates and Trend Forecast

9.1. North America
9.1.1. Market Revenue and Forecast, by Component (2016-2027)
9.1.2. Market Revenue and Forecast, by Application (2016-2027)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.1.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.1.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Component (2016-2027)
9.2.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.2.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.2.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Component (2016-2027)
9.2.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Component (2016-2027)
9.2.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.3.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.3.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Component (2016-2027)
9.3.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Component (2016-2027)
9.3.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.4.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.4.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Component (2016-2027)
9.4.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Component (2016-2027)
9.4.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Component (2016-2027)
9.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.5.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.5.4.2. Market Revenue and Forecast, by Application (2016-2027)

Chapter 10. Company Profiles

10.1. Siemens AG
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Schneider Electric
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. ABB Ltd.
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Cisco Systems Ltd.
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. IBM Corp.
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. United Technologies
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Delta Controls
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Building IQ
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Johnson Controls
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Honeywell International Inc.
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
10.11. Legrand
10.11.1. Company Overview
10.11.2. Product Offerings
10.11.3. Financial Performance
10.11.4. Recent Initiatives
10.12. Hitachi Ltd.
10.12.1. Company Overview
10.12.2. Product Offerings
10.12.3. Financial Performance
10.12.4. Recent Initiatives
10.13. Thales Group
10.13.1. Company Overview
10.13.2. Product Offerings
10.13.3. Financial Performance
10.13.4. Recent Initiatives
10.14. Accenture
10.14.1. Company Overview
10.14.2. Product Offerings
10.14.3. Financial Performance
10.14.4. Recent Initiatives

Chapter 11. Research Methodology

11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions

Chapter 12. Appendix

12.1. About Us
12.2. Glossary of Terms

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