Global Smart Building Market (2020-2023) Industry Research Report is a proficient and in-depth research report on the world’s major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific). It covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key Vendors operating in this Global market.Smart Building Market 2020 reportdescribes an in-depth analysis of the Smart Building industry players coupled with the profiles and their tendency towards the market. That analyzes Smart Building Market price, cost, gross, revenue, specifications, product picture, company profile, and contact information.
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A smart building is a structure which uses automated processes to control various building operations such as air conditioning, heating, security, energy management, and ventilation. Smart buildings are equipped with various types of smart devices and electronic components such as sensors, microchips, microcontrollers, and microprocessors to collect and process relevant data and manage it to control automatic operations of the building. This helps the facility managers and owners of the building to reduce energy use, increase comfort level, improve performance, enable optimal use of building space, and minimize environmental degradation. The increasing requirement for energy efficient buildings and favorable government initiatives towards smart infrastructure is driving the market growth. As smart buildings can monitor everything remotely from lighting and elevators to security and temperature of the building, they save a lot of power. Automatic and remote monitoring of such elements of the building reduces manual procedures, operating cost, and error in building systems.
In 2017, the global smart building market accounted for USD 7,458.5 million and is expected to grow with a CAGR of 29.96% during the forecast period 2018–2023. In 2017, North America dominated the accounting for USD 2,615.31 million and is expected to grow with a CAGR 27.17% during the forecast period 2018–2023. However, Asia-Pacific region is projected to be the fastest growing market with a CAGR of 33.03% during the forecast period, and 22% of the total market in 2017. The presence of developed and developing countries in Asia-Pacific drives the growth of the smart building market; furthermore, various initiatives taken by the government for green buildings also contribute to the market growth. For instance, the Chinese government has initiated a project for the development of smart building and Green Building policies for school, airports, railway stations and others. Similarly, in India, the government is taking an initiative for adopting smart cities for the reduction of building maintenance cost and also to enhance the quality of living.
The global smart building market has been segmented based on automation and application. Based on automation, building energy management system accounted for the largest market share of 36.8% in 2017, with a market value of USD 2,743.90 million and is projected to grow at the CAGR of 26.6% during the forecast period 2018–2023. Based on application, the commercial segment held the largest market share in 2017, with a market value of 2,826.09 million, and is expected to grow with a CAGR of 28.33% during the forecast period.
The key players of the smart building market areCisco Systems, Inc. (US), ABB Group(Switzerland), IBM Corporation(US), Honeywell International, Inc. (US), Siemens AG (Germany), Control4 Corporation (US), Emerson Electric Co (US), Schneider Electric (France), United Technologies Corporation (US), Johnson Controls International PLC (US), and Legrand SA (France) among others.
Global Smart Building Market Analysis & Forecast, from 2017 to 2023
•To provide a detailed analysis of the market structure along with a forecast of the various segments and sub-segments of the smart building market
•To provide insights about factors affecting the market growth
•To analyze the smart building market based on Porter's five force analysis
•To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries— North America, Europe, Asia, and the rest of the world
•To provide country-level analysis of the market with respect to the current market size and future perspective
•To provide country-level analysis of the market for its segments on the basis of automation, application, and region
•To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
•To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the smart building market
•System Design & Development Vendors
•System Integrators/Migration Service Providers
•Support & Maintenance Service Providers
•Network Service Providers
•Smart Building Product & Solution Provider Companies
•Academic and Research Institutes
•The global smart building market is expected to reach USD 33,707.3 million by 2023.
•Based on the automation, the building energy management system segment dominated the market by generating the highest revenue of USD 2,743.90 million in 2017 and is expected to grow with 26.61% CAGR in the forecast period.
•Based on the application, the commercial segment dominated the market by generating the highest revenue of USD 2,826.09 million in 2017 and is expected to grow with 26.12% CAGR during the forecast period.
•Geographically, North America has been projected to hold the largest market share in the global smart building market, followed by Europe.
Regional and Country Analysis of Smart Building Market Estimation and Forecast
Global smart building market, by region, is led by North America with a CAGR of 27.17% during the forecast period. Europe has successfully counted on the second position in smart building with a CAGR of 31.58%. Asia-Pacific is the fastest growing market with a 33.03% CAGR. However, the market in the rest of the world is expected to grow with a moderate growth rate at a CAGR of 25.93% during the forecast period.
The report on the global smart building market also covers the following country-level analysis:
oRest of Europe
oRest of Asia-Pacific
•Rest of the World
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Key Features of Smart Building Market Research Report:
- This report provides detail analysis of the market and have a comprehensive understanding of the Smart Building market and its commercial landscape.
- Learn about the various market strategies that are being adopted by leading companies.
- It provides a five-year forecast assessed based on how the Smart Building market is predicted to grow.
- It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.
- To understand the future scope and outlooks for the Smart Building market.
- Smart Building Market Forecast by regions, type and application, with sales and revenue, from 2020 to 2023.
- Smart Building Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
- Smart Building Market Size (sales, revenue) forecast by regions and countries from 2020 to 2023 of Smart Building industry.
- The global Smart Building market Growth is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2023. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
- Smart Building Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
- Smart Building Market Report also mentions market share accrued by each product in the Smart Building market, along with the production growth.
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Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
Total Chapters in Smart Building Market Report are:
Chapter 1 Overview of Smart Building Market
Chapter 2 Global Market Status and Forecast by Regions
Chapter 3 Global Market Status and Forecast by Types
Chapter 4 Global Market Status and Forecast by Downstream Industry
Chapter 5 North America Market Status by Countries, Type, Manufacturers and Downstream Industry
Chapter 6 Europe Market Status by Countries, Type, Manufacturers and Downstream Industry
Chapter 7 Asia Pacific Market Status by Countries, Type, Manufacturers and Downstream Industry
Chapter 8 Latin America Market Status by Countries, Type, Manufacturers and Downstream Industry
Chapter 9 Middle East and Africa Market Status by Countries, Type, Manufacturers and Downstream Industry
Chapter 10 Market Driving Factor Analysis of Low End Servers
Chapter 11 Smart Building Market Competition Status by Major Manufacturers
Chapter 12 Smart Building Major Manufacturers Introduction and Market Data
Chapter 13 Upstream and Downstream Market Analysis of Smart Building Market
Chapter 14 Cost and Gross Margin Analysis of Smart Building Market
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