The global smart buildings market is anticipated to grow at a significant CAGR of 11.2% during the forecast period. The growing demand for energy efficient solutions will drive the smart buildings market. Energy costs are rising rapidly, and environmental issues have become major concern due to which there is growing focus to deliver more energy-saving solutions. Decline in energy consumption is a prime concern among commercial building owners to save money due to which various iniatives are being taken to provide energy efficient solutions to consumers. For instance, in February 2020, Honeywell launched Honeywell Forge Energy Optimization which is a machine learning solution that studies a building’s energy consumption patterns and robotically regulates to optimal energy saving settings. The new autonomous building solution is focused towards reducing energy consumption and decrease a building’s carbon footprint, which may result in growth of the smart buildings market.
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The COVID-19 pandemic has spread to almost every country globally. It has adversely affected various industries, however, it has created opportunities for the smart buildings market especially in commercial buildings sector. The COVID-19 has increased the need for better air quality and effective ventilation in buildings to reduce viruses. In the post-lockdown period, people have become more hesitant to touch light switches, elevator buttons, and regulators, which may result in increasing number of buildings being advanced with touchless technology such as hands-free doors, voice-activated elevators, and phone-controlled door locks. These advanced technologies in buildings will result in growth of the market post-COVID-19 period.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Smart Buildings Market by Building Type
- Residential
- Commercial
- Industrial
Global Smart Buildings Market by Solution
- Safety & Security Management System
- Energy Management System
- Building Infrastructure Management System
- Network Management
- Integrated Workplace Management System (IWMS)
Global Smart Buildings Market by Service
- Consulting
- Implementation
- Support & Maintenance
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- ABB Ltd.
- CopperTree Analytics Inc.
- eFACiLiTY
- ENTOUCH
- Endeavor Business Media, LLC
- 75F
- IGOR INC
- Intel Corp
- Johnson Controls Internationals
- KMC Controls
- Legrand North America, LLC.
- Mode:Green Integrated Building Technology
- PTC Inc.
- Schneider Electric SE
- Siemens AG
- Softdel System Pte. Ltd.
- Spaceti s.r.o.
- SPACEWELL INTERNATIONAL.
- Telit
- Thales Group
- Verdigris Technologies, Inc.
The Report Covers
- Market value data analysis of 2021 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global smart buildings market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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