Smart Building Market Share, Growth, Approaches and Forecast by 2024

A latest published report on “Smart Building Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.

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The Smart Building Market is projected to grow from US$ 60.7 Billion in 2019 to US$ 105.8 Billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.7% from 2019 to 2024. This report spread across 156 pages, profiling 20 companies and supported with 126 tables and 36 figures is now available in this research.

Topmost Outstanding Market Players:
Honeywell (US)
Johnson Controls (US)
Cisco (US)
Hitachi (Japan)
Siemens (Germany)
IBM (US)
Schneider Electric (Germany)
Intel (US)
Huawei (China)
ABB (Switzerland)
L&T Technology Service (India)
75F (US)
Telit (Switzerland)
Pointgrab (Israel)
LogicLadder (India)
Space well (Belgium)
PTC (US)
Avenet (US)
Softdell (US)
Spaceti (Czech Republic)

The energy management segment is projected to grow with the most rapid growth rate in 2019 to 2024.Energy management solutions for smart building help to reduce and monitor the energy consumption of the building.Keeping operational expenses low is a continuous challenge for owners and managers of multistory buildings, schools, or building complexes. Some of the infrastructure available for managing energy in buildings is designed for large systems and not for managers with smaller budgets, resulting in high costs of adoption and integration.

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The commercial building segment is expected to lead the smart building market in 2019. Energy performance of commercial buildings is a significant challenge for the commercial sector as these buildings consume higher energy and also generate more waste in the form of carbon and other solid wastes. Therefore, appropriate and tailor-made solutions are needed for optimized energy performance to reduce building energy consumption without compromising comfort or security.

The APAC smart building market is projected to grow at the highest CAGR during the forecast period. The growth of the market in Asia Pacific can be attributed to innovative building technologies are getting traction in the APAC region due to presence of various smart building market vendors to use such technology for gaining competitive advantage. Multiple governments in this region have started promoting smart building practices due to rising environmental concerns and the growing need for energy savings

Breakdown of primary participants’ profile:
• By Company Type: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15%
• By Designation: C-level – 38%, Directors – 30%, and Others – 32%
• By Region: North America – 40%,Europe– 15%, Asia Pacific– 35%, Middle East and Africa – 5%, Latin America – 5%

Competitive Landscape of Smart Building Market:
1 Competitive Leadership Mapping
1.1 Visionary Leaders
1.2 Innovators
1.3 Dynamic Differentiators
1.4 Emerging Companies

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Reason to buy this report:
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall Smart building market and its segments. This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies.

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This release was published on openPR.