Smart Building Market Size Projections Will It Reach $169.88 Billion by 2030 | Johnson Controls, Honeywell, Schneider, UTC

Smart Building Market Summary -

According to QYResearch New Study Report 'Smart Building Market 2024' provides a comprehensive analysis of the industry with market insights will definitely facilitate to increase the knowledge and decision-making skills of the business, thus providing an immense opportunity for growth. Finally, this will increase the return rate and strengthen the competitive advantage within. Since it's a personalised market report, the services are catered to the particular difficulty. The correct methodology and staff will be matched to the company need through marketing reports, which may involve survey work, in-depth interviews, or a combination of methodologies. also qualitative and quantitative analysis, we help you with thorough and comprehensive research on the global Smart Building market. We have also focused on SWOT, PESTLE, and Porter's Five Forces analyses of the global Smart Building market.

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The global Smart Building market was valued at US$ 77680 million in 2023 and is anticipated to reach US$ 169880 million by 2030, witnessing a CAGR of 12.0% during the forecast period 2024-2030.

The major players inglobal smart building market include Johnson Controls, Honeywell, Schneider, UTC, etc. The top 3 players hold over 20% of global market shares. North America and Europe are main markets, they occupy over 68% of the global market. Building management system (BMS), security and access control, emergency alarm and evacuation system are three main types, with a share about 60% altogher. Commercial buildings is the key application, which hold about 70% shares.

A Smart Building is: Also referred to as an Intelligent Building. Smart buildings improve the productivity of people and processes by leveraging technology & actionable information to help you & your building make better decisions and become smart, efficient and sustainable.An integrated Smart Building with various sub-systems including: Intelligent Integrated System (IIS), Information Technology System Infrastructure (ITSI), Information Technology Applying System (ITAS), Building facilities Management System (BMS), Public Security System (PSS) and Engineering of Electronic Equipment Plant (EEEP). The integrated system integrates the isolated devices, functionalities and information of BMS, PSS, ITAS into a correlated and harmonized system via ITSI, with stability, combinability and extendibility by ensuring to the combined management and correlations of the system's devices.

Market The Driving Factors:-

Growing customer demand for the product, effective marketing strategies in new states, and significant investments in product development are some of the major reasons that are driving the Smart Building industry. One of the biggest problems the Smart Building industry is facing is easy access to rivals. The inexpensive cost of alternatives is another barrier to the Smart Building market. Companies believe they can overcome this obstacle, though, by keeping pricing in check and expanding the market for their goods through the introduction of chemicals, specialized chemicals, polymers, metals, ceramics, composites, and new materials. Furthermore, market participants need to overcome significant obstacles in order to reduce risks, adjust their plans, and carry on with business as usual. As a result, businesses will have the ability to deploy their resources efficiently without sacrificing timely market supply or product quality.

Global Smart Building Market Trends:-

Smart Building The pre- and post-period regulatory situation plays an important role in shaping market dynamics. As governments introduce and refine regulations governing the production, distribution, and sale of Smart Building products, businesses must navigate complex compliance requirements to ensure lawful operations. Regulatory clarity and consistency are key factors that positively impact markets, providing certainty for businesses and giving people confidence in product safety and quality standards. Additionally, regulatory developments such as the approval of Smart Building chemical and material products and the establishment Smart Building of cultivation programs are opening up new opportunities for market expansion while setting standards for best practices in the industry.

Who are the World's Largest Manufacturers of Smart Building?

Johnson Controls
Honeywell
Schneider
UTC
Siemens
Ingersoll Rand (Trane)
Azbil
ABB
Emerson
Eaton
Control4
Bosch
Panasonic
Delta Controls
Legrand
Cisco
IBM
Advantech
Current (GE)
Carrier
Otis
Hitachi

Detailed of Smart Building Market Segmentation: -

Segmentation By Type :-

Building Management System (BMS)
HVAC
Lighting Control
Security and Access Control
Emergency Alarm and Evacuation System
Audio and Visual Effects
Escalator
Elevator
Others

Segmentation By Application : -

Government Buildings
Residential Buildings
Commercial Building

Regional Outlook :-

The Smart Building Market provides a diverse geographical landscape, with several areas exhibiting unique market characteristics. While some locations see rapid growth due to factors like economic expansion and technical advancements, other regions may experience slower but more consistent market expansion. Market trends vary greatly throughout regions due to factors including cultural influences, legal frameworks, and population developments. Businesses looking to go global must understand these regional differences and adjust their strategy to take advantage of local opportunities.

The primary research and secondary research of the analysis is the competitive landscape that exists between the top players present in the industry. An inventory of the actions the businesses have done in the previous years is included in the report. Growth statistics for the regional markets have been included in the research, along with a list of the key countries driving regional growth, including North America, Europe, China, Japan, Southeast Asia, and India.

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Table of Contents with Major Points:

1. Executive Summary

1.1. Market Analysis
1.2. Global & Segmental Market Estimates & Forecasts, 2024-2030 (USD Billion)
1.2.1. Smart Building Market, by Region, 2024-2030 (USD Billion)
1.2.2. Smart Building Market, by Type, 2024-2030 (USD Billion)
1.2.3. Smart Building Market, by Application, 2024-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

2. Global Smart Building Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

3. Global Market Dynamics

3.1. Smart Building Market Impact Analysis (2024-2030)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities

4. Global Industry Analysis

4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2024-2030)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion

5. Global Market, by Type

5.1. Market Analysis
5.2. Global Smart Building Market by Type, Performance - Potential Analysis
5.3. Global Smart Building Market Estimates & Forecasts by Type 2024-2030 (USD Billion)
5.4. Smart Building Market, Sub-Segment Analysis

6. Global Market, by Application

6.1. Market Analysis
6.2. Global Smart Building Market by Application, Performance - Potential Analysis
6.3. Global Smart Building Market Estimates & Forecasts by Application 2024-2030 (USD Billion)
6.4. Smart Building Market, Sub-Segment Analysis
6.4.1. Others

7. Regional Analysis

7.1. Smart Building Market, Regional Market Analysis
7.2. North America Smart Building Market
7.3. Europe Smart Building Market Analysis
7.4. Asia-Pacific Smart Building Market Analysis
7.5. Latin America Smart Building Market Analysis
7.6. Rest of The World Smart Building Market

8. Competitive Intelligence

8.1. Top Market Strategies
8.2. Company Profiles
8.2.1. Key player 1
8.2.1.1. Key In Durationation
8.2.1.2. Overview
8.2.1.3. Financial (Subject to Data Availability)
8.2.1.4. Product Summary
8.2.1.5. Recent Developments

9. Research Process

9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes

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