The Smart Building report gives market definition in the form of market driving factors and market restraints which aids in estimating the requirement of particular product where several aspects have to be considered. This Smart Building report has been prepared by making sure that the key factors of the Construction and Technology industry are understood well to provide the market report that has complete overview of the market, covering various aspects such as product definition, market segmentation based on various parameters, and the prevailing vendor landscape.
According to Research for Markets, the Global Smart Building market is expected to grow from $8.49 billion in 2016 to reach $57.81 billion by 2023 with a CAGR of 31.5%. Factors such as increasing adoption of energy saving technologies, growing safety and security concerns are the fueling the market growth. Moreover, rapid urbanization in emerging countries is one of the major factors boosting the market growth. However, expensive set up costs, lack of skilled labour are the constraints limiting the market growth.
Some of the key players in Smart Building Market include:
Honeywell International, Siemens, Cisco, Johnson Controls, IBM, General Electric, Hitachi, Schneider Electric, ABB, BuildingIQ, Inc., Accenture, Legrand, Ingersoll Rand Security Technologies, United Technologies Corporation and Delta Controls
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By type, services segment is expected to grow at the highest rate owing to implementation of new and intelligent automation technologies by service providers for the effective maintenance of buildings which reduces the costs. The services include managed and professional services which are offered by various vendors in the market. Geographically, Europe accounts for the largest market share owing to development of initiatives by various governments in building smart and creative structures. In addition, the rising adoption of security solutions and energy management has led to the growth of the market in the European regions.
Building Types Covered:
- Commercial Buildings
- Government & Public Infrastructure Facilities
- Residential Buildings
- University, School, & Hospital Buildings
- Manufacturing Facilities
- Other Building Types
- Building Automation Software
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Table of Content
1 Executive Summary
3 Market Trend Analysis
4 Porters Five Force Analysis
5 Global Smart Building Market, By Equipment Type
6 Global Smart Building Market, By Application
7 Global Smart Building Market, By Geography
8 Key Developments
9 Company Profiling
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What Our Report Offers:
Market share assessments for the regional and country level segments
Market share analysis of the top industry players
Strategic recommendations for the new entrants
Competitive landscaping mapping the key common trends
Company profiling with detailed strategies, financials, and recent developments
Supply chain trends mapping the latest technological advancements
Reasons To Buy This Report:
- To get a comprehensive overview of the Smart Building market.
- To gain information about the top players in this industry, their product portfolios, and their key strategies.
- To gain insights about the major regional insights in which the Smart Building is flourishing.
- Recent industry trends and developments
- Potential and niche segments/regions exhibiting promising growth
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