Press release
Smart Building Market 2021: Strategic Analysis and Key Technological Developments
The Smart Building Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Smart Building market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Smart Building market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Smart Building market.The smart building market was valued at USD 82.55 billion in 2020 and is expected to reach USD 229.10 billion by 2026 at a CAGR of over 18.50% over the forecast period (2021 - 2026).
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Top Leading Companies of Smart Building Market are - ABB Ltd., Honeywell International Inc., Siemens AG, Schneider Electric SE, Huawei Technologies Co. Ltd, IBM Corporation, Cisco Systems Inc., Johnson Controls Inc, Legrand SA, Avnet Inc., Hitachi Ltd, Softdel (A UNIDEL Company) and others.
Industry News and Updates:
- August 2019 - Honeywell International, Inc. a global vendor in smart building technology and services, introduced the next generation of Enterprise Building Integration (EBI), Command and Control Suite (CCS), and Digital Video Manager (DVM), a suite of solutions enabled by the Honeywell Forge for Buildings platform. These solutions drive facility efficiency, streamline complex functions, and deliver savings across an enterprise.
- November 2019- ABB launched IoT Dashboard for mid-sized commercial building automation solutions. Pre-programmed frames make it easy to configure the dashboard and deliver quick results. The addition of the KNX standard drives interoperability and makes it ideal for use in all commercial building types. The IoT Dashboard can be accessed remotely via a PC or handheld device, allowing users to access several facilities from anywhere.
Key Market Trends:
Building Energy Management System to Witness a Significant Market Share
- The increasing demand for reduction in energy consumption level and continuing growth of energy use, owing to an increasing number of commercial buildings, created a need to develop innovative techniques, so as to reduce and optimize building energy use.
- Quite recently, building energy management system (BEMS) has gained popularity because of the increasing interest in energy conservation and savings. Building energy management system is capable to control and monitor the building's energy needs.
- Bigger buildings require advanced building and predictive analytics, building optimization and continuous optimization, demand response, automated building control, autoDR and enterprise integration, while small-sized buildings require a system that can provide information on incentive availability, historical billing analysis and behavioral, educational, and retrofit suggestions. BEMS is playing a key role in fulfilling these requirements.
North America to Dominate the Market Share
- North America holds the prominent share of the global market owing to the presence of the high volume of early adopters in the United States and Canada. Over the forecasted period, the region is expected to dominate the global market, owing to its developed infrastructure that can house smart automation solutions in both the residential as well as the commercial segments.
- The governments in the region are also pushing toward the adoption of such smart solutions due to the energy-saving benefits offered by such systems. The US Green Building Council runs the 'LEED' program in collaboration with the Bank of America Charitable Foundation providing support to the local governments that are looking for adopting sustainable solutions.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Smart Building Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Smart Building Market (%),2016 - 2026
- Smart Building Market Share, By Brand
- Smart Building Market Share, By Company
- Smart Building Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Smart Building Market Value Analysis & Forecast
- Promising Smart Building Development by Major Companies
- Detailed Smart Building Portfolio of the Major Companies
- Major Deals in the Smart Building Market
- Major Companies Analysis
Browse Full Report at:
https://www.marketinsightsreports.com/reports/02082592736/smart-building-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=namita
We Offer Customization on Report Based on Specific Client Requirement:
- Country Level analysis for any 5 countries of your choice.
- Competitive analysis of any 5 key market players.
- 40 analyst hours to cover any other data point.
Contact Us:
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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