Smart Buildings (Nonresidential Buildings) Market Size, Status and Forecast 2021- China State Construction Engineering Co., Ltd.; VINCI; Bechtel Corporation; Skanska AB

Smart Buildings (Nonresidential Buildings) Market 2021 report helps the clients to take business decisions and to understand strategies of major players in the industry. The report also calls for market- driven results deriving feasibility studies for client needs. Market Insights Reports ensures qualified and verifiable aspects of market data operating in the real- time scenario. The analytical studies are conducted ensuring client needs with a thorough understanding of market capacities in the real- time scenario.

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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.

Top leading Companies Profiled in Smart Buildings (Nonresidential Buildings) Market Report are China State Construction Engineering Co., Ltd.; VINCI; Bechtel Corporation; Skanska AB; Turner Construction Company

Markets Segmentation:

1) By Automation Type: Intelligent Security System; Building Energy Management System; Infrastructure Management System; Network Management System

2) By Application: Government; Airports; Hospitals; Manufacturing Establishments; Others

Regional Analysis:

Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Malaysia, and Others), North America (United States, Canada, and Mexico), Central & South America (Brazil, and Rest of South America), Europe (Germany, France, UK, Italy, Russia, and Rest of Europe), Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa and Other)

Market Overview

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.

Growth in the historic period resulted from strong economic growth in emerging markets, low interest rate environment, increase in internet penetration, favorable government initiatives and technology development

Going forward increased urbanization, increasing IoT, evolving smart cities and increasing demand for energy efficiency will drive the growth. Factors that could hinder the growth of the smart buildings (nonresidential buildings) market in the future include workforce shortage, decreasing affordability, falling consumer demand and Covid-19 pandemic

The smart buildings (nonresidential buildings) market is segmented by automation type into intelligent security system, building energy management system, infrastructure management system and network management system. The building energy management system market was the largest segment of the smart buildings (nonresidential buildings) market segmented by automation type, accounting for 46.4% of the total in 2020. Going forward, the intelligent security system segment is expected to be the fastest growing segment in the smart buildings (nonresidential buildings) market segmented by automation type, at a CAGR of 10.4% during 2020-2025.

The smart buildings (nonresidential buildings) market is segmented by application into government, airports, hospitals, manufacturing establishments and others. The hospitals market was the largest segment of the smart buildings (nonresidential buildings) market segmented by application, accounting for 39.3% of the total in 2020. Going forward, the manufacturing establishments segment is expected to be the fastest growing segment in the smart buildings (nonresidential buildings) market segmented by application, at a CAGR of 15.2% during 2020-2025.

The smart buildings (nonresidential buildings) market is segmented by geography into Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. Asia Pacific was the largest region in the global smart buildings (nonresidential buildings) market, accounting for 38.9 % of the total in 2020. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the smart buildings (nonresidential buildings) market will be Africa, and South America, where growth will be at CAGRs of 15.7% and 15.3% respectively. These will be followed by Eastern Europe and Middle East where the markets are expected to grow at CAGRs of 14.9% and 13.9% respectively.

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Competitive Analysis

The COVID-19 outbreak had a significant impact on the supply chain of the construction industry, including smart buildings as governments globally imposed lockdowns and suspended domestic and international transportation services to contain the virus. Manufacturing and supply of smart buildings materials and equipment was affected as facilities were shut down and the movement of people and goods were restricted. For instance, the US depends on China for 30% of its building materials imports and around 20% each from Canada and Mexico. As Canada and Mexico announced lockdown restrictions and closed their borders, the import of construction materials into the US was affected. Ports in the US witnessed a 20% decline in cargo volumes in the first quarter of 2020.

The smart buildings (nonresidential buildings) market is fairly fragmented with large number of global players operating in the market. The key players in the market are focusing on expanding its presence in developing countries through strategic partnerships with regional companies. The top 10 companies in the market occupied 35.72% of market share in the global smart buildings (nonresidential buildings) market. Major players in the market include China State Construction Engineering Co., Ltd., VINCI, Bechtel Corporation, Skanska AB, Turner Construction Company, Jacobs Engineering Group Inc., The Whiting-Turner Contracting Company, PCL Construction, AECOM and BESIX Group.

The top opportunities in the smart buildings (nonresidential buildings) market segmented by automation type will arise in the building energy management system segment, which will gain $10.6 billion of global annual sales by 2025. The top opportunities in segment by application will arise in the manufacturing establishments segment, which will gain $10.8 billion of global annual sales by 2025. The smart buildings (nonresidential buildings) market size will gain the most in the USA at $4.5 billion.

Market-trend-based strategies for the smart buildings (nonresidential buildings) market include adopting artificial intelligence and robotics to assist in construction activities, utilizing predictive analytics techniques to improve risk scans and reduce production costs, adopting IoT technologies to increase operational efficiencies, investing in security solutions to safeguard consumers, investing in smart switches and displays to provide a seamless user experience, adopting green construction and energy efficient techniques to develop environmentally-friendly smart nonresidential buildings, using living or green roofs to enhance efficiency of the green buildings, implementing low-emittance windows or smart glasses for better functioning of green commercial spaces.

Key Takeaways from Smart Buildings (Nonresidential Buildings) Report

─Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals

─Understand the different dynamics influencing the Smart Buildings (Nonresidential Buildings) market – key driving factors, challenges and hidden opportunities.

─Get in-depth insights on your competitor performance – Smart Buildings (Nonresidential Buildings) market shares, strategies, financial benchmarking, product benchmarking, SWOT and more

─Analyze the sales and distribution channels across key geographies to improve top-line revenues.

─Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

─Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.

─Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the Smart Buildings (Nonresidential Buildings)

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In conclusion, the Smart Buildings (Nonresidential Buildings) market report presents the descriptive analysis of the parent market supported elite players, present, past and artistic movement information which is able to function as a profitable guide for all the Smart Buildings (Nonresidential Buildings) Industry business competitors. Our expert research analyst’s team has been trained to provide in-depth market research reports from every individual sector which will be helpful to understand the industry data in the most precise way.

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