Smart Building Market Company Profile and Market Segments Poised for Strong Growth in Future 2027 | Impact of COVID-19

 Description:

Global Smart Building Market Research Report: by Automation (Intelligent Security System (Video Surveillance System, Access Control System, Emergency Management System), Building Energy Management System(Energy Management System, HVAC Control System, Lighting Control System), Infrastructure Management System(Elevators and Escalators Management System, Smart Water Management System, Parking Management System) and Network Management System), By Application (Commercial, Industrial, Government & Public Infrastructure and Residential) by Region (North America, Europe, Asia-Pacific, Middle East & Africa and Central & South America) - Forecast till 2025

Market Overview

The global smart building market will touch USD 25,725.0 million at a 13..29% CAGR during the forecast period 2019- 2025, states the latest Market Research Future (MRFR) analysis. A smart building, put simply, is a structure which uses automated processes to control different building operations automatically like ventilation, energy management, security, heating, air conditioning, and other systems. It is equipped with different forms of smart devices and electronic components like microprocessors, microcontrollers, microchips, and sensors for collecting and processing pertinent data and managing them in controlling operations of the building automatically.

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Various factors are fuelling the global smart building technology market growth. As per the recent MRFR market estimates, such factors include the growing adoption of IoT-enabled building management system, growing awareness about space utilization, rising industry standards and regulations, increasing need for energy-efficient buildings, rising government initiatives to encourage smart infrastructure, and emergence of 5G technology.

On the contrary, lack of infrastructure and technical expertise in developing countries, lack of coordination and cooperation among standard bodies, the COVOID-19 impact, and increasing concerns on data privacy and security may limit the global smart building market growth over the forecast period.

Key Players

The Key Players of the Smart Building Market are Control4 Corporation (US), United Technologies Corporation (US), HCL Technologies Limited (India), Panasonic Corporation (Japan), Advantech Co. Ltd (Taiwan), Johnson Controls International PLC (Ireland), Hitachi Ltd (Japan), Sony Corporation (Japan), IBM Corporation (US), Cisco Systems (US), Honeywell International, Inc. (US), Emerson Electric Co. (US), GEZE GmbH (Germany), Overkiz (France), ABB Group (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), Legrand SA (France), and Huawei Technologies Co. Ltd, (China).

Smart Building Market - Segmentation

The MRFR report throws light on an inclusive segmental analysis of the global smart building market based on automation and application.

By automation, the global smart building market is segmented into network management system, infrastructure management system (parking management system, smart water management system, and elevators and escalators management system), building energy management system (lighting control system, HVAC control system, and energy management system), and intelligent security system (emergency management system, access control system, and video surveillance system). Of these, the building energy management system segment will lead the market over the forecast period.

By application, the global smart building market is segmented into residential, government and public infrastructure, industrial, and commercial. Among these, the commercial application segment will dominate the market in the forecast period.

Smart Building Market   - Regional Analysis

By region, the global smart building market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, South America, & the Middle East and Africa (MEA). Of these, North America will dominate the market over the forecast period. Reduction in management costs, growing awareness for energy and water management, safety and security, emergence of latest smart building solutions which leverage new technologies like artificial intelligence, deep learning, data analytics, cloud computing, big data, and IoT for saving energy, increasing occupancy comfort, reducing operational expenditures, and meeting increasingly strict global regulations and sustainability standards, technological developments in Canada and the US, heavy investments being made by US organizations into smart building measures like building systems integration and building controls for leveraging energy storage and energy efficiency and also deliver safer, more sustainable, and smarter buildings, and the Canadian government taking initiatives for supporting the countries commitment to safeguard the environment and its resources via making federal buildings highly energy efficient and cutting down greenhouse emissions are adding to the global smart building market growth in the region.

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About Us:

Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.

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