Market Overview:

Smart buildings are fast becoming the norm across countries. This transformation can be attributed to automation and IoT that are proliferating sectors pervasively. The new-age innovations are assisting not only in the operational ease in the housing sectors but are curbing adverse environmental effects as well. Smart buildings are equipped with several gadgets such as sensors, microcontrollers, and microprocessors to introduce automation in the operations of the building. The global Smart Building Market is expecting a boost by 29.69% CAGR during the forecast period (2018-2023) and quadruples its previous market valuation of USD 7.45 billion in 2017 and attain a worth of USD 33.70 billion by 2023. Market research Future (MRFR) in their extensive report reveals factors and segmental analysis that can impact the market demography in the coming years. Among the factors, stringent laws imposed by governments across the globe can influence the buying pattern of consumers. At the same time, the International Energy Agency reveals that residential sector consumes almost 42% of the energy produced globally which calls for a reduction in intake.

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Despite all these efforts, the smart building market can experience a slip owing to the dearth of skilled labor. It is getting daunting as it is often failing to meet the supply and demand curve. However, the situation can be fast averted with timely introduction of the 5G technology which would encourage the installation of IoT in these smart buildings and steer out the smart building market out of any long-time plummet.

In 2018, Siemens took over Enlighted, Building Robotics Inc., and J2 Innovations, three California-based smart building software suppliers, to enhance its own IT infrastructure and capabilities of its building management system (BMS) platform, Desigo.

In November 2018, Honeywell acquired Transnorm, a German company known for its conveyor solutions. This acquisition will support Honeywell’s automation solutions, warehouse execution system software, and services.

Companies Profiled

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

Report Synopsis

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 Market 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.

Report Coverage

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.

Research Methodology

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.

Other Description

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

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By Automation

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
By Application

Commercial
Industrial
Government & Public Infrastructure
Residential
By Region

North America
Europe
Asia Pacific
The Middle East & Africa (MEA)
Latin America
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Intended Audience

• System Design & Development Vendors
• Research Consultants
• Network Service Providers
• Government Associations
• Raw Material providers
• Key executive (CEO and COO) and strategy growth manager

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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