Smart Building Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028


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Future Market Insights

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Need of lower operating cost, lower CO2 emissions and scarcity of energy resources are the factor which increases the demand for smart building solutions. The energy monitoring is one of the major solution which help to monitor the energy consumption rate and optimize the energy usage. As the smart building market comes under automation and control sector which is rapidly growing it leads to the growth of smart building solution market which is largely driven by electronic security & safety segment due to increasing demand for CCTV and biometrics based security systems in the buildings.

In Heating, Ventilation and Air Conditioning (HVAC) building, increasing the demand for thermostat, zone and climate control, sensors and keypads which supports the growth of smart building market, while emerging carbon dioxide & combine sensors will have significant impact on overall smart building market.

Smart Building Solutions Market: Drivers and Restraints

The initiatives taken by government for building automation is the primary driver in the global smart building solutions market. In addition to this, the concept enables an efficient energy management system of a building which reduces the wastage of energy consumption. Therefore, it drives the demand for smart building solutions. Furthermore, the connectivity achieved between devices on internet, with the introduction of IoT, will enhance the overall efficiency of smart building. Henceforth, the introduction of IoT will drive the overall growth of global smart building solutions market. The on-going innovation and research for optimizing energy consumption and serving high degree of automation in buildings represents the increasing demand for global smart building solutions market.

High installation and manufacturing cost are the major factors restraining the growth of smart building solutions market.

Smart Building Market: Market Segmentation

Global Smart Building Solution Market can be divided into the following segments - based on type and by end-user

Segmentation on basis of Solutions for Smart Building Type Market:

The major segments of Smart Building Solutions market on basis of Type include:

  • Building Management System

  • Electricity Control

  • Air Conditioning and Ventilation System

  • Security Solutions

  • Audio and Visual Effects

Segmentation on basis of End-User forSmart Building Solutions Market:

The major segments of Smart Building Solutions market on basis of End-User include:

  • Residential

  • Commercial

  • Government

  • Industrial

  • Manufacturing

  • Others

Global Smart Building Solutions Market Trends

Minimizing the usage of wire and implementing a wireless connection for automation of a building is a key tend followed by major vendors. The trend is majorly implemented in Residential building for integrating various connected devices with each other.

Global Smart Building Solutions Market Technology Regional Overview

Europe dominates the global Smart Building Solutions market as the government has taken many initiatives in the region, for the same. Europe is expected to be followed by North America and APAC with the increasing awareness in the regions for adopting smart building solutions in their buildings. The availability of resources, innovations in IT and increasing adoption of smart building solutions concept is, furthermore, encouraging new players to step into the market.

Global Smart Building Solutions Market Key Players

Some of the major Smart Building Solutions global players include ABB, Siemens AG, Intel Corporation, Honeywell International Inc., Schneider Electric, Legrand SA, Panasonic Corporation, BuildingIQ, Cisco Systems Inc. and DELTA CONTROLS

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

  • Tailwinds and headwinds molding the market’s trajectory
  • Market segments based on products, technology, and applications
  • Prospects of each segment
  • Overall current and possible future size of the market
  • Growth pace of the market
  • Competitive landscape and key players’ strategies

The main aim of the report is to:

  • Enable key stakeholder’s in the market bet right on it
  • Understand the opportunities and pitfalls awaiting them
  • Assess the overall growth scope in the near term
  • Strategize effectively with respect to production and distribution

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