Automation and IoT are likely to govern majority of the technology trends in the future. The housing sector apparently is next in line to embrace these new-age inventions. Smart building has quickly become a reality. Innovation in residential building industry has been slower as compared to some of the other dynamic sectors. The stringent regulatory framework is partly responsible for the delay. However, there is a massive turnaround that is being noticed, as the industry forays into technologies such as connected device, sensor, artificial intelligence, etc. A move which has led to the emergence of smart buildings. MRFR notes that the global market value of smart building will be close to USD 33 Bn by the year 2023. Increased efforts towards improving energy conservation, resource management and building security is creating lucrative market opportunities for smart building solutions.
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ABB Group, Cisco Systems, Inc., Siemens AG, Control4 Corporation, Schneider Electric, Johnson Controls International PLC, IBM Corporation, Emerson Electric Co., United Technologies Corporation, Legrand SA
This MRFR report offers an all-round assessment of the Smart Building Market on a global scale. The primary objective of the report is to deliver a market forecast until 2023. In the report, the market assessment has been made after considering several macro and microeconomic elements. It also includes a thorough discussion on market dynamics such as challenges, opportunities and technology trends. The scope of the discussion also covers various automation systems used smart building such as intelligent security system, building energy management system and infrastructure management system. Application areas for smart building solutions mentioned in report include commercial, industrial, government & public infrastructure and residential.
Historical market trends, market dynamics, forecast, market value by region as well as by segmentation, country-level analysis for each market segment, key player’s market share analysis and market factor analysis which covers supply chain and Porter’s five forces analysis of the market.
MRFR's reports are curated with the help of world-class research models which assists in delivering unfettered market insights. Vital data points are gathered from an optimum mix of primary and secondary data. Secondary data sources such as whitepapers, corporate presentations, company websites, journals, and others are referred and combined with primary data. The analysis is not confined to the data collection itself, gathered information is validated through a multi-layer verification process to broaden the exploration landscape and contribute a more robust analysis. The top-down and bottom-up approaches are deployed to predict market propensities and to arrive at conclusions regarding the market size.
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Market Denomination- USD Mn
Base Year- 2017
Forecast Period- from 2018 to 2023
For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for smart building
Intelligent Security System
Video Surveillance System
Access Control System
Emergency Management System
Building Energy Management System
Energy Management Platform
HVAC control System
Lighting Control System
Infrastructure Management System
Parking Management System
Smart Water Management System
Elevators and Escalators Management System
Government & Public Infrastructure
The Middle East & Africa (MEA)
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• System Design & Development Vendors
• Research Consultants
• Network Service Providers
• Government Associations
• Raw Material providers
• Key executive (CEO and COO) and strategy growth manager
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