16-Jan-2020 | Facts and Factors
Facts and Factors Market Research has published a new report titled “Smart Buildings Market By Product (Lighting, Safety & Security, Monitoring, Heating, Ventilation & Air Conditioning (HVAC), Energy Management, Emergency Systems, Car Parking Management Systems, & Others), By Building Type (Residential, Commercial, & Industrial), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026”. According to the report, the global Smart Buildings market is predicted to be valued at approximately USD 65.3 Billion in 2020 and is expected to reach a value of around USD 106.2 Billion by 2026, at a CAGR of around 10.8% between 2021 and 2026.
A smart building is an edifice that makes use of mechanized methods for automated control of the building functions including heating, ventilation, lighting, air conditioning, and other household or residential systems. Moreover, the smart construction makes use of sensors, microchips, and actuators for garnering data and handling it as per business needs. The smart building infrastructure helps the owners of the houses, operators, and facility personnel for enhancing the asset performance for minimizing the power consumption and contributing towards the green ecosystem.
Browse the full “Smart Buildings Market By Product (Lighting, Safety & Security, Monitoring, Heating, Ventilation & Air Conditioning (HVAC), Energy Management, Emergency Systems, Car Parking Management Systems, & Others), By Building Type (Residential, Commercial, & Industrial), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” Report at https://www.fnfresearch.com/smart-buildings-market-by-automation-type-energy-management-291
Growing need for conserving energy to drive the market trends
Energy efficiency is a key issue for developers of the building structures as well as designers of the buildings. These structural engineers are trying to build sustainable structures through the use of smart building techniques which has proved to be an efficient way for reducing power consumption along with reducing the costs while improving the building environment for the residents. Additionally, escalating the need for eco-friendly living, effective resource management, cost-efficient management, and other beneficial features will lift the growth graph of the smart buildings market in an upward direction.
Furthermore, commercial constructions make use of a large amount of power, and hence automated systems that measure and check energy efficiency have become a key component of energy management activities. Apparently, huge concerns over energy preservation and green constructions will steer the business growth over the forecast period.
In addition to this, an escalating requirement of integrated security & safety systems in the new constructions is likely to steer the market expansion over the forecast period. However, high initial costs including development & deployment of automation in the buildings can restrict the market growth over the forecast timeline.
Intelligent Security Systems to lead the automation type segment by 2025 in terms of value
The growth of the intelligent security systems segment during the forecast period is credited to massive security concerns across the globe resulting in a need for new & reliable technologies for buildings.
Commercial segment to dominate the application landscape over the forecast timeline in terms of earnings
The segmental growth over 2019-2025 is due to the large-scale use of automated systems in commercial spaces like large commercial offices, retail shops, malls, parks, and shopping stores with a view to save energy.
Europe to contribute a major market revenue share over the forecast period
The regional market growth during the period from 2019 to 2025 is credited to the launching of new initiatives by the government for constructing smart buildings & intelligent commercial structures.
Top Market Players
The key market participants for the global smart building market are 75F, ABB, Aquicore, Bosch, BuildingIQ, Cisco, CopperTree Analytics, ENTOUCH, Hitachi, Honeywell, Huawei, IBM, Igor, Intel, Johnson Controls, KMC Controls, Legrand, Mode: Green, PTC, Schneider Electric, Siemens, Softdel, Spaceti, Telit, Verdigris Technologies, and Emerson Electric Co. Ltd., among others.
This report segments the Smart Buildings market as follows:
Global Smart Buildings Market: By Product Segment Analysis
- Lighting
- Safety & Security
- Monitoring
- Heating, Ventilation & Air Conditioning (HVAC)
- Energy Management
- Emergency Systems
- Car Parking Management Systems
- Others
Global Smart Buildings Market: By Building Type Segment Analysis
- Residential
- Commercial
- Industrial
Smart Buildings: By Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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