The global smart building market size is expected to reach US$ 127.09 billion by 2027 from US$ 5 billion in 2020 and is expected to grow at an impressive double-digit rate of 6% from 2020 to 2027.
The study includes drivers and restraints of this market. The study provides an analysis of the global smart building Market for the period 2017-2030, wherein 2021 to 2030 is the forecast period and 2020 is considered as the base year.
Smart building applies sensors, microchips, and actuators to control and regulate air-conditioning, ventilation, lighting, heating, and other systems. It leverages integrated and advanced building technologies that include advanced telecommunications systems, building automation, facility management system, and fire safety equipment to improve comfort, safety, productivity of occupants. It can automatically manage the building systems as per the environmental condition, pre-set & variable schedules, and emergency events.Energy efficiency stays at the front of IoT Smart Building trends.
Growth Factors
Several laws and regulations imposed by the government of different countries have encouraged the smart usage of the buildings without compromising their safety and sustainability. The European Commission has submitted its nearly zero-energy buildings national plans, under which it describes its intention to increase the NZEBs by 2020. Furthermore, the UK government has also issued a directive under which it had planned to reduce the energy consumption in government building by 20%.This initiative was mainly focused towards reducing the carbon footprint along with energy consumption in building sector. Similarly, Asian countries and other regions government are take strong initiative for transforming traditional buildings into green building. For instance, Singapore has started zero energy building that is running entirely on solar power.
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Regional Snapshots
North America dominated the global smart building market in 2019 and projected to augment the market in the coming years. The prime factor attributed for its growth is technological advancement in the region along with government initiatives supporting smart and sustainable buildings & infrastructure. In addition, rising investment for the smart infrastructure in the region is another important factor accelerating the growth of the region. In March 2019, InnerSpace, an IoT-based smart building solution platform, announced that BDC Capital’s Women in Technology had funded USD 3.2 Mn in the company.
Asia Pacific projected as the most opportunistic region during the forecast period. The prime factor attributed to this is proliferating penetration of smart devices and advanced technologies in the region such as IoT, big data, and other new technologies. In 2019, the Asia Pacific expected to be the global leader in IoT spending with around 36% of the total spending across the globe. This in turn will exhibit the smart building market growth in the region.
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Key Players & Strategies
The global smart buildingmarket is highly competitive owing to development and investment by established market players. In March 2019, Advantech Co. Ltd announced to introduce two new routers for smart building solution that are LTE Cat-M1 router and ICR-3211B. These routers are significantly applicable for energy management, building automation, and remote SCADA application. Besides this, market players are also engaged in merger and collaboration to develop next level smart building solutions. For instance, in March 2017, Huawei, a chinese technology provider announced its collaboration with Honeywell for developing smart building solutions using IoT that makes building more secure, sustainable, and energy efficient.
Some of the key players of the market are Siemens AG, Schneider Electric, ABB Ltd., Cisco Systems Ltd., IBM Corp., United Technologies, Delta Controls, Building IQ, Johnson Controls, Honeywell International Inc., Legrand, Hitachi Ltd., Thales Group, Accenture, and Emerson Electric Company among others.
Report Highlights
- North America led the global smart building market in 2019 owing to emergence of smart building offering using advanced technologies such as big data, IoT, data analytics, cloud computing, artificial intelligence, and deep learning. Moreover, the U.S. and Canadian governments are significantly investing in smart building solutions to enhance energy efficiency and deliver smarter, sustainable, and safer buildings.
- Asia Pacific exhibits the fastest growth during the forecast period owing to rapid penetration IoT-enabled smart devices in the region. In addition, rising public awareness towards energy conservation laws and smart and reliable solutions for buildings and infrastructures are driving the market growth.
- Solutions segment led the global smart building market with remarkable revenue share in 2019. Rising popularity for smart building infrastructure management solutions are uplifting the segment growth. For instance, demand for smart and automated elevators and escalators have conquered nearly 60% of the revenue share in building infrastructure management segment.
- By application, commercial building held the major revenue share in the global smart building market in 2019 owing to initiatives taken by real estate sector and builder to modernize the commercial spaces to enhance public experience. On the contrary, residential sector expected to exhibit the fastest growth over the forecast period. The prime factor attributed to this is augmented awareness for energy conservation among public along with aesthetic and smart featured solutions trending in the market.
Segments Covered in the Report
This research report analyzes and predicts growth of market size at global, regional, and country levels. It also offers comprehensive study of the up-to-date industry developments in all of the sub-segments from 2016 to 2027. In order to study thoroughly this research study classified global smart building market depending upon different parameters such as component, application and region:
By Component
- Solution
- Security & Emergency Management
- Video Surveillance System
- Safety System
- Access Control System
- Others
- Building Infrastructure Management
- Elevators & Escalators System
- Parking Management System
- Smart Water Management System
- Others
- Energy Management
- Lighting Control System
- HVAC Control System
- Security & Emergency Management
- Services
- Support & Maintenance
- System Integration & Deployment
- Consulting
By Application
- Commercial
- Retail
- Hotel
- Healthcare
- Others
- Residential
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Smart Building Market, By Component
7.1. Smart Building Market, by Component Type, 2020-2027
7.1.1. Solution
7.1.1.1. Security & Emergency Management
7.1.1.2. Building Infrastructure Management
7.1.1.3. Energy Management
7.1.1.4. Market Revenue and Forecast (2016-2027)
7.1.2. Services
7.1.2.1. Support & Maintenance
7.1.2.2. System Integration & Deployment
7.1.2.3. Consulting
7.1.2.4. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Smart Building Market, By Application
8.1. Smart Building Market, by Application, 2020-2027
8.1.1. Commercial
8.1.1.1. Hotel
8.1.1.2. Retail
8.1.1.3. Healthcare
8.1.1.4. Others
8.1.1.5. Market Revenue and Forecast (2016-2027)
8.1.2. Residential
8.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Smart Building Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Component (2016-2027)
9.1.2. Market Revenue and Forecast, by Application (2016-2027)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.1.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.1.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Component (2016-2027)
9.2.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.2.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.2.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Component (2016-2027)
9.2.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Component (2016-2027)
9.2.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.3.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.3.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Component (2016-2027)
9.3.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Component (2016-2027)
9.3.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.4.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.4.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Component (2016-2027)
9.4.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Component (2016-2027)
9.4.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Component (2016-2027)
9.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.5.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.5.4.2. Market Revenue and Forecast, by Application (2016-2027)
Chapter 10. Company Profiles
10.1. Siemens AG
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Schneider Electric
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. ABB Ltd.
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Cisco Systems Ltd.
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. IBM Corp.
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. United Technologies
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Delta Controls
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Building IQ
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Johnson Controls
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Honeywell International Inc.
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
10.11. Legrand
10.11.1. Company Overview
10.11.2. Product Offerings
10.11.3. Financial Performance
10.11.4. Recent Initiatives
10.12. Hitachi Ltd.
10.12.1. Company Overview
10.12.2. Product Offerings
10.12.3. Financial Performance
10.12.4. Recent Initiatives
10.13. Thales Group
10.13.1. Company Overview
10.13.2. Product Offerings
10.13.3. Financial Performance
10.13.4. Recent Initiatives
10.14. Accenture
10.14.1. Company Overview
10.14.2. Product Offerings
10.14.3. Financial Performance
10.14.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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