The smart building market is expected to grow at a CAGR of 20.59% over the forecast period 202–2027. The adoption of IoT-based building management systems is increasing rapidly, and the growth of the smart building market is driven by space utilization and raising awareness of industry standards and regulations. Lack of cooperation and coordination between standards bodies, and growing concerns about security and data privacy are factors limiting the smart building market. 5G technology is rapidly emerging and is an opportunity. The lack of availability of skilled professionals is one of the challenges faced by the smart building market.
A full report of Smart Building Market available at: https://www.orionmarketreports.com/smart-building-market/26714/
Key market players profiled in this report 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). These players have adopted various growth strategies such as partnerships, business expansions, agreements, and collaborations; and new product launches and product enhancements to further expand their presence in the Smart buildings market and broaden their customer base.
Smart Building Market- Segmentation
By Component
• Solution
• Services
By Application
• Residential
• Commercial
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
