According to a market research
report "Smart Buildings Market by
Component (Solution (Safety and Security Management, Energy Management,
Building Infrastructure Management, Network Management, IWMS), Services),
Building Type (Residential, Commercial, Industrial), Region - Global Forecast
to 2025", published by
MarketsandMarkets™, the Smart Buildings Market size is expected to grow from USD 66.3 billion in 2020 to USD 108.9
billion by 2025, at a Compound Annual Growth Rate (CAGR) of 10.5% during the
forecast period.
The major drivers
for the Smart building include the rising adoption of IoT-enabled building
management system, rising awareness of space utilization, increased industry
standards and regulations, and increase demand for energy-efficient system.
Browse and
in-depth TOC on “Smart Buildings
Market”
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The
safety and security management solution in the solution type segment is
expected to lead the Smart Buildings Market in 2020.
The safety and security
the prime concern for most of the buildings be they residential or commercial.
Access control and video surveillance systems help to track every activity
across a facility. This helps to detect intruders and keep the environment
safe. Rising deployment of advanced access control systems, video surveillance
systems, and fire and life safety systems to safeguard the occupant and assets
is contributing to the high market share if this segment.
Industrial building
segment is expected to grow with the fastest growth rate during the forecast
period.
Industrial buildings are
often large and have many moving parts. Smart industrial building solutions
automate building temperature control, security, and maintenance for more
efficient property management through various mobile computing devices, such as
mobile devices and computers.
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North America to lead the Smart Buildings Market during the
forecast period.
The growth of the market in North America can be attributed to
the region has witnessed the emergence of latest smart building solutions that
leverage new technologies, such as IoT, big data, cloud computing, data
analytics, deep learning, and artificial intelligence, for saving energy,
reducing operational expenditures, increasing occupancy comfort, and meeting
increasingly stringent global regulations and sustainability standards.
Moreover, North America is a technologically advanced region in the world due
to the rapid adoption of emerging technologies by the organizations in the
region. Furthermore, the US and Canada are prominent countries contributing to
technological development in this region; for instance, US organizations are
heavily investing into smart building measures, such as building controls and
building systems integration, to leverage energy efficiency and energy storage
and deliver smarter, safer, and more sustainable buildings while the Canadian
government is taking initiatives to support Canadas commitment to protecting
the environment and its resources by making federal buildings more
energy-efficient and reducing greenhouse gas emissions, driving the growth of
smart buildings.
Market Players
The major vendors covered in the Smart Buildings Market include 75F (US), ABB (Switzerland),
Aquicore (US), Bosch (US), BuildingIQ (US), Cisco (US), CopperTree Analytics
(Canada), ENTOUCH (US), Hitachi (Japan), Honeywell (US), Huawei (China), IBM
(US), Igor (US), Intel (US), Johnson Controls (Ireland), KMC Controls (US),
Legrand (France), Mode: Green (US), PTC (US), Schneider Electric (Germany),
Siemens (Germany), Softdel (US), Spaceti (Czechia), Telit (UK), and Verdigris
Technologies (US).
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Content
Source: https://www.marketsandmarkets.com/PressReleases/smart-building.asp
Report:https://www.marketsandmarkets.com/Market-Reports/smart-building-market-1169.html
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