Smart Building Market Size 2021
Global Smart Building Market Size estimated to Reach US$ 33,547.3 Mn by 2022, Due to Increasing Demand for Integrated Security & Safety Systems
Integrated communication and control systems provide a flexible, effective, comfortable, and secure building environment for operators and occupants. Integrated communication increases building functionality by allowing operators to use a single interface to control an entire network of building automation systems. Intelligent building technology utilizes building automation systems to improve and control many operations. Growing need for integrated security and safety systems in buildings and the implementation of the IoT platform in building automation technology are expected to drive the growth of the Smart Building Market Size.
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Major Key Players:
Smart Building Market Size Participants include Siemens AG, ABB Group, Cisco Systems, Schneider SE, United Technologies Corporation, Building, Inc., Honeywell International, IBM Corporation, Johnson controls, Delta Controls, among others. For instance, On Oct 1, 2017, Schneider Electric launched EcoStruxure Building, a new platform designed to support the management of smart buildings. This new solution integrates both system and application data covering an entire building operation into one single interface.
Key findings of the report:
Europe is expected to account for the largest Smart Building Market Size share during the forecast period due to the increased initiatives by the region’s governments to build smart and intelligent structures. Also, with the increasing technological developments and adoption of new infrastructure security & services, this region is projected to boost the market.
Commercial buildings include office buildings, retail infrastructures such as malls, shopping stores, and others. All these buildings have huge utilization of energy and require high-tech security systems and thus commercial buildings have increased utilization of the automated systems. It also helps to create and maintain a safer and more secure, productive and comfortable environment as cost-effectively as possible. The commercial buildings segment accounted for the largest share in 2017 and is expected to retain its dominance throughout the forecast period 2018-2026.
Market Segmentation
Smart Building Market Size - By Automation Type
Energy Management
Intelligent Security Systems
Infrastructure Management
Network & Communication Management
Smart Building Market Size By Services
Professional Services
Managed Services
Market By Application
Commercial
Residential
Government
Airports
Hospitals
Institutes
Manufacturing & Industrial Facilities
Others
Smart Building Market Size By Region
North America
U.S.
Rest of North America
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
Southeast Asia
Rest of Asia Pacific
Middle East and Africa
GCC Countries
Southern Africa
Rest of Middle East and Africa
Latin America
Brazil
Rest of Latin America
.…
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