Smart Building Market Trends, Share, Industry Size, Growth, Opportunities And Forecast To 2029

Step into a world where buildings are not just structures but intelligent ecosystems-welcome to the Smart Building Market. Valued at US$ 80.92 billion in 2022, this dynamic market is poised to grow at a remarkable CAGR of 10.89%, shaping the future of our living and working spaces. Explore with us as we unravel the intricacies of smart building technology, predict future trends, and delve into the forces driving this evolution.

Smart Building Essentials:
A smart building is more than bricks and mortar; it's a fusion of technology and architecture. Embracing real-time systems, smart buildings use technology to enhance efficiency, safety, sustainability, and cost-effectiveness across diverse environments-universities, offices, hospitals, museums, malls, and more.

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Smart Building Market Dynamics:

Growing Energy Consumption:
Rising global energy demand prompts the adoption of new technologies for efficient energy management. Smart building solutions contribute to reducing electricity consumption, addressing concerns about energy sources and environmental sustainability.

Development of 5G Technology:
The introduction of 5G technology unlocks powerful capabilities for intelligent buildings, fostering the growth of IoT-enabled devices. 5G enhances user experiences, facilitates AI-enabled innovations, and supports the Building Internet of Things (BIoT).

Remote Building Management:
The COVID-19 pandemic underscores the importance of remote management technologies. Cloud-connected building management systems enable off-site engineers to receive alerts and optimize, monitor, and fix buildings remotely.

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Smart Building Market Segment Insights:

Component Segment:

Solution Segment: Expected to grow at a CAGR of nearly 12.84% due to increased demand for smart infrastructures and energy-efficient solutions.

by Component

Solutions
Building infrastructure Management
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 Management
IWMS
Services
Consulting
Implementation
Support and Maintenance

Building Type Segment:

Commercial Segment: Anticipated to grow at the highest CAGR of 13%, driven by the need for optimized energy efficiency in commercial buildings.

by Building Type

Residential
Commercial
Industrial

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Who are Smart Building Market Key Players?

1. CISCO
2. HONEYWELL
3. JOHNSON CONTROLS
4. SIEMENS
5. IBM
6. HITACHI
7. SCHNEIDER ELECTRIC
8. INTEL
9. HUAWEI
10. ABB
11. LEGRAND
12. BOSCH
13. TELIT
14. PTC
15. KMC CONTROLS
16. VERDIGRIS TECHNOLOGIES
17. ACQUICORE
18. 75F
19. BUILDINGIQ
20. ENTOUCH
21. SOFTDEL
22. MODE:GREEN
23. COPPERTREE ANALYTICS
24. SPACETI
25. IGOR

Table of content for the Smart Building Market includes:

Part 01: Executive Summary

Part 02: Scope of the Smart Building Market Report

Part 03: Smart Building Market Landscape

Part 04: Smart Building Market Sizing

Part 05: Smart Building Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Smart Building Market Regional Insights:

North America: Expected to account for nearly 52% of the market share in 2022, driven by technological advancements and substantial investments in smart building solutions.
Asia Pacific: Anticipated to grow rapidly, supported by increased defense spending, rising technological adoption, and the growing threat of terrorist activities.

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