Industry Detail

Market Outline:

Global market was estimated nearly over USD 80 billion in 2023 and expected to grow at a CAGR of 17.7% over the analysis period.

Total market is expected to grow XX over the forecast period and offering $ opportunity value of around USD XX million from 2023-2036.

Smart Building are the Infrastructure integrated with advanced form of technologies, in orders to enhance the various aspects of building managements. These technologies covers wide spectrum of devices imperative for security, comforts, sustainability and others.  

Due to proliferation of technologies, smart building operation are widely adopting these technological tools, which are installed at various levels, such as devices, sensors, interconnected systems. These wide array of technologies, covers the large spectrum of area such as energy consumption, usage, performance management, water management, waste management, enhancing security and among others.  

Smart building equipped with high end technological equipment need to provide all necessities.  Earlier these building structure were confined to metro cities, now they are also migrating in tier two cities. This changes mainly driven by imitative take my gov. such as Smart cities projects around the globe. Smart building market expected to take big leap due to such advancements.

Report Insights Encompasses:

• Global market was estimated nearly over USD 80 billion in 2023 and expected to grow at a CAGR of 17.7% over the analysis period.
• Smart Building market witness to provide an $ opportunity of USD 340 billion over the forecast period. (2022-2036)
• There are expected 130 million smart building deployments by 2030.
• Smart Building going to impact over USD 800 billion worth business across technological sector
• More than 40% of new infrastructure going to adopt the smart building technologies.
• ~XX% respondents mentioned, they incline to adopt, these technologies, as it lowers their operational costs
• 15% respondents mentioned they use to enhance their energy efficiency systems
• Report also investigated the, use case analysis. For instance, The University of Technology, Sydney, adopted automated smart building technology to manage air conditioning platform
• Technological adoption accelerated dramatically over the last few years
• Commercial building is contributing larger pie of share in the overall market i.e. nearly 87%, as our research revealed
• Report investigated

Report Provides a comprehensive outlook w.r.t. below pointers:

• Technological Impact Analysis
• Use Case Analysis
• End User Adoption Analysis
• Impact on Productivity
• Key Players
• Investment Analysis
• Industry Experts Opinion on its Adoption
• Emerging trends
• Potential Disruptors
• Opportunities shaping the future of Smart Building over the forecast period
• Strategic recommendations for industry stakeholders.

Technological Landscape Shaping the Market: 

• Smart buildings integrate the network of IoT sensors and devices in order to gather intelligence pertaining to occupancy levels, air quality managements, equipment performance, permit data driven decision.
• Smoke, waste management, indoor smelling quality, oxygen level, among others are the prominent area of integration
• Our research has investigated the various types of technologies, and their penetration level, cost associated with its integration and application assessment 
• Report technological coverage:  IoT Sensors and Devices; Integrated Security Systems; Remote Monitoring and Management; Data Analytics and Optimization

Market Drivers Explored in the Report:

• The increasing need for resource optimization: In order to conserve the energy and encourage sustainable developments, resources optimization is integral in policy developments. Technology could play important role in reducing carbon footprint, enhancing efficiency, better smart managements.    
• Government Initiatives toward smart city developments
• Proliferation of technologies
• Rising awareness regarding climate change, energy usage, security and privacy
• Curtailing cost

Market Challenges Explored in the Report:

• High initial investment costs: Installation of these technologies is the costly affairs at the initial stage and mounting cost also hinder the adoption of these technologies. Huge investment needed especially for adopting high end technological solutions. As the market progress and evolve, these technologies could be cost effective, it could pave the way for greater adoption.
• Complexity of integration with existing building systems
• Concerns about job displacement
• Cybersecurity risks

Market Segmentation Analysis by Value (USD Million), Forecast Assessment 2022-2036:

• By Solution (USD Million), Forecast Assessment 2022-2036:
  • Building Infrastructure Management
    • Water Managements
    • Parking Management
    • Waste Management
    • Others
  • Energy Management
    • Lighting Management System
    • HVAC Control System
    • Others
  • Safety and Privacy Management
    •   Security Management
    •   Biometric based Access
    •   Fire and Life Safety System
  • Other Management
• By End-use Value (USD Million), Forecast Assessment 2022-2036:
  • Industrial Buildings
  • Commercial Buildings
  • Residential Buildings

Geographical Mapping, Value (USD Million), Forecast Assessment 2022-2036:

Global Smart Building Market Assessment

• Market Size and Forecast by Value (USD million)
• Market Dynamics and Trends
• Use Case Analysis
• End User Assessment
• Technological Impact Analysis
• Regulatory Assessment

North America Smart Building Market Assessment

• Market Size and Forecast by Value (USD million)
• Market Dynamics and Trends
• Use Case Analysis
• End User Assessment
• Technological Impact Analysis
• Regulatory Assessment

By Country

• United States
• Canada

Europe Smart Building Market Assessment

• Market Size and Forecast by Value (USD million)
• Market Dynamics and Trends
• Use Case Analysis
• End User Assessment
• Technological Impact Analysis
• Regulatory Assessment

By Country

• Germany
• United Kingdom
• France
• Italy
• Spain
• Rest of Europe

Asia Pacific Smart Building Market Assessment

• Market Size and Forecast by Value (USD million)
• Market Dynamics and Trends
• Use Case Analysis
• End User Assessment
• Technological Impact Analysis
• Regulatory Assessment

By Country

• China
• India
• Japan
• South Korea
• Rest of APAC

Rest of World Smart Building Market Assessment

• Market Size and Forecast by Value (USD million)
• Market Dynamics and Trends
• Use Case Analysis
• End User Assessment
• Technological Impact Analysis
• Regulatory Assessment

By Country

• Brazil
• Mexico
• GCC
• Israel

Competitive Landscape:

• ABB Building Automation
• Siemens Building Technologies
• Johnson Controls
• Schneider Electric
• Honeywell Building Technologies
• Cisco Systems
• IBM Watson IoT
• Trane Technologies
• Legrand
• ABB AbilityTM
• Delta Controls
• Crestron Electronics
• Other major players