Press release
Smart Building Market Industry Analysis, Size, Share, Trends, Demand, Growth, Opportunities and Forecast 2029
The global smart building market size was USD 67.60 billion in 2021. The market is expected to grow from USD 80.62 billion in 2022 to USD 328.62 billion by 2029, exhibiting a CAGR of 22.2% during the forecast period. Growing smart city projects, the emergence of smart 5G technology, and increasing smart city projects are expected to boost the market growth. Fortune Business Insights™ presents this information in its report titled "Smart Building Market Revenue, 2021-2028."
Smart buildings comprise building operations and control systems sensors, microchips, and other components. The building offers low operational costs, building performance, efficient security management, tenant management, and performance management. Smart city projects and the emergence of 5G technology are expected to boost technology adoption. Furthermore, rising smart city projects are expected to boost adoption. These factors are likely to fuel the market development in the coming years.
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Companies Profiled in the Global Smart Building Market:
Cisco Systems, Inc. (U.S.)
Siemens AG (Germany)
ABB Ltd. (Switzerland)
Schneider Electric SE (France)
Endeavor Business Media (U.S.)
IBM Corporation (U.S.)
Legrand SA (U.S.)
Honeywell International Inc. (U.S.)
Johnson Controls Inc. (U.S.)
Hitachi, Ltd. (U.S.)
Drivers & Restraints
Increasing Energy Consumption to Fuel Market Development
Increasing concerns regarding energy consumption are expected to fuel energy-efficient technology and energy adoption. For example, IBM Corporation's IoT and Smart Building 2019 report mentions that real estate and commercial buildings utilize 50% hydro energy. Further, the report mentions that the buildings are expected to adopt maximum energy by the end of 2025. Also, stringent government investments and rising green building projects are expected to boost the product adoption. Additionally, improving lifestyles and rapid digitization are expected to bolster the technologies' demand. These factors are likely to drive the smart building market growth.
However, increasing cyber-attacks in connected buildings are expected to hamper industry development.
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Key Benefits to Purchase Smart Building Market Report:
Major countries in each region are mapped according to individual Smart Building Market revenue.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
The report includes an in-depth analysis of current research and clinical developments within the market.
Key players and their key developments in the recent years are listed.
Global Smart Building Market, by Regions:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Major Points Covered in TOC:
Overview: Along with an expansive outline of the worldwide Smart Building Market, this segment gives an outline of the report to give a thought regarding the nature and substance of the examination study.
Analysis of Strategies of Leading Players: Market players can use this analysis to gain a competitive advantage over their competitors in the Smart Building Market.
Study on Key Market Trends: This piece of the report offers a more significant assessment of the latest and future examples of the market.
Market Forecasts: Buyers of this report will approach precise and approved evaluations of the all market size as far as worth and volume. The report additionally gives utilization, creation, deals, and different conjectures for the Smart Building Market.
Local Growth Analysis: All critical regions and countries have been covered in the report. The neighbourhood examination will help with elevating players to exploit dismissed common business areas, prepare express philosophies for target regions, and contemplate the improvement of each and every regional market.
Segmental Analysis: The report gives precise and solid conjectures of the piece of the pie of significant portions of the Smart Building Market. Market members can utilize this examination to make key interests in key development pockets of the market.
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