Smart Building Market Trends 2022-2027 | Industry Size, Growth, Top Companies and Research Report

According to IMARC Group's latest report, titled "Smart Building Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global smart building market is expected to exhibit a CAGR of 11.24% during 2022-2027. Smart building involves the use of structurally centralized automated technology, such as the Internet of Things (IoT)-based solutions for controlling and monitoring operations, including lighting, security, and heating, ventilation, and air conditioning (HVAC). It aids in evaluating data after generating usage insights and managing network, workforce, and building infrastructure management (BIM) systems. Apart from this, smart building comprises sensors, lighting controllers, and security devices, which assist in minimizing energy consumption, optimizing space utilization, ensuring safety, and enhancing energy performance.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Smart Building Market Trends and Drivers:

With rapid urbanization, particularly in emerging economies, there has been an increasing need for smart cities and energy-efficient, IoT-enabled building management systems (BMS) across both commercial and residential sectors. This, in turn, represents one of the prime factors currently driving the market growth. Smart buildings assist in reducing operational costs, managing tenants, enhancing builder user experience, and maintaining premises systems, thus supporting the market growth significantly. Additionally, the integration of HVAC systems, occupancy sensors, advanced lighting controls and parking assistance solutions is propelling the market growth. Moreover, various initiatives undertaken by governments of several nations promoting and funding smart infrastructure development projects are contributing to the market growth.

Smart Building Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the global smart building market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• ABB Ltd
• Cisco Systems Inc.
• Hitachi Ltd.
• Honeywell International Inc
• Huawei Technologies Co. Ltd.
• IBM Corporation
• Intel Corporation
• Johnson Controls International Public Limited Company
• Schneider Electric SE
• Siemens AG

Key Market Segmentation:

The report has segmented the global smart building market on the basis of technology, component, end user and region.

Breakup by Technology:

Building Infrastructure Management (BIM):
• Parking Management System
• Smart Water Management System
• Elevators and Escalators Management System

Security and Emergency Management:
• Access Control System
• Video Surveillance System
• Safety System

Energy Management:
• HVAC Control System
• Lighting System

• Network & Communication Management
• Workforce Management
• Others

Breakup by Component:

• Hardware
• Software
• Service
• Professional Service
• Managed Service

Breakup by End User: 

• Commercial
• Residential
• Government & Public Infrastructure
• Healthcare
• Education
• Transport
• Manufacturing & Industrial
• Others

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=2360&flag=C

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.