Press release
Smart Buildings (Nonresidential Buildings) Market 2021 To 2030 - Size, Share, Outlook, And Opportunity Analysis
Smart Buildings Market
The global smart buildings (nonresidential buildings) market reached a value of nearly $36.42 billion in 2020, having increased at a compound annual growth rate (CAGR) of 0.5% since 2015. The market is expected to grow from $36.42 billion in 2020 to $59.30 billion in 2025 at a rate of 10.2%. The market is then expected to grow at a CAGR of 8% from 2025 and reach $87.25 billion in 2030.
The key drivers of the smart buildings (nonresidential buildings) market include:
Economic growth and a rapidly growing urban population is expected to increase the demand for new smart buildings (nonresidential buildings) during the forecast period. Large opportunities are expected to arise in Asian countries such as Indonesia, Vietnam and the Philippines which are becoming increasingly popular for export-oriented manufacturing. According to the World Bank, urban population in South Asia is expected to grow by 250 million by 2030. According to a report by PwC, around 60% of the world’s population is expected to live in cities by 2030. This rapid urbanization is expected to boost the demand for new smart buildings (nonresidential buildings) going forward.
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Smart buildings (nonresidential buildings) Market Segmentation: -
By Automation Type-
a) Intelligent Security System
b) Building Energy Management System
c) Infrastructure Management System
d) Network Management System
By Application-
a) Government
b) Airports
c) Hospitals
d) Manufacturing Establishments
e) Other
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By Geography - The smart buildings (nonresidential buildings) market is segmented Into
1.Asia Pacific
2.North America
3.South America
4.Western Europe
5.Eastern Europe
6.Middle East
7.Africa
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Some of the major key players involved in the smart buildings (nonresidential buildings) market are
1. China State Construction Engineering Co., Ltd.
2. VINCI
3. Bechtel Corporation
4. Skanska AB
5. Turner Construction Company
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