Market Synopsis of the Global Smart Building Market

Inclusion of technology has trickled down to many areas of daily living, one such example being that of smart buildings. Market Research Future, a firm which specializes in market reports related to the Construction sector among others, recently published a report on this market. The industry is anticipated to generate revenues worth USD 25 billion by the end of the forecast period and is estimated to demonstrate growth at CAGR of 34.3% from 2016 to 2022.

Smart buildings are a newly emerging market on the global level, but they are showing tremendous potential for growth. Increasing expenses in terms of electricity and water consumption, has led to the development of the market. Smart building help in management of necessities like lighting, security and other services required in buildings, which has further motivated the growth of the market. Growth of the automation sector and intensification of environmental protection measures have been the other important motivating factors leading to expansion of the market.

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Key Players

The key players of global smart buildings market report include- Cisco Systems Inc., ABB Group, International Business Machines (IBM) Corporation, Control4 Corporation, Honeywell International Inc., Emerson Electric Co., United Technologies Corporation, Schneider Electric SE, Siemens AG, Delta Controls, Johnson Controls International PLC, Leviton Manufacturing Co. Inc., United Technologies Corporation, and BuildingIQ.

Market Research Analysis:

The market is highly application based. It is expected that the global Smart Buildings Market will advance with higher growth rate as compared to previous years. However the current challenge for the market is the availability of the technology and hardware in the remote areas.

On the basis of type, energy management system leads the market in all the major regions across the globe. The share owes to the growing need for energy saving building systems and efficient building practices across the globe. The segment is expected to show similar results by the end of the forecasted period.

On the basis of region, APAC takes the lead as the fastest growing market, followed by Europe and North America. APAC, due to its rising population and rapid urbanization demands more such building systems which are highly efficient as well as effective in energy savings. Furthermore, the government initiatives taken for bring up the eco-friendly buildings have led to the installation of the same in a big way. The region has also seen a lot of investment in R&D to bring advanced technology and automation, which further fuels the growth of the market.

Industry Segments:

The market for Smart Buildings Market is divided on the following criteria globally. On the basis of automation type the segments are energy management, intelligent security systems, infrastructure management, and on the basis of application, the types include commercial, residential, industrial, and infrastructure.

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Scope of the report

This study provides an overview of the global smart buildings industry, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global smart buildings market as type, and application. On the basis of type, it is segmented as energy management, intelligent security systems, infrastructure management, and others. On the basis of application, it is segmented as commercial, residential, industrial, and infrastructure.

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