According to IMARC Group’s latest report, titled “Smart Building Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global smart building market witnessed strong growth during 2014-2019. Looking forward, IMARC Group expects the global market has huge potential for growth during 2020-2025.
A smart building is an integration of various automated processes from heating, ventilation, and air conditioning to security and lighting. It primarily includes HVAC systems, security devices, occupancy sensors, water management devices, advanced lighting controls, parking assistance systems, etc. Smart buildings offer enhanced security, real-time monitoring, optimum space utilization, and reduce energy consumption. As a result, smart buildings are widely adopted across diverse sectors, including residential, healthcare, hospitality, retail, etc.
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Rapid urbanization, coupled with the increasing demand for energy-efficient buildings, is primarily driving the smart building market growth. Moreover, the growing penetration of Internet-of-Things (IoT)-based devices and automated systems to facilitate smooth functioning and monitoring within smart buildings is further propelling the global market. Additionally, the market is also driven by the introduction of numerous government initiatives to develop smart cities, particularly across the emerging economies. Furthermore, rising consumer awareness regarding the need for energy conservation has further led to the emergence of energy-efficient and sustainable infrastructures. Besides this, several innovative technologies, such as cloud computing, data analytics, and artificial intelligence (AI), are being integrated with automated building systems, thereby augmenting the global smart building market growth. Apart from this, the rising security concerns have also led to the adoption of video surveillance, access control and emergency systems in smart buildings.
Smart Building Market 2020-2025 Competitive Analysis and Segmentation:
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.
The report has segmented the global smart building market on the basis of component, technology, end user and region.
Breakup by Component:
- Professional Service
- Managed Service
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
Breakup by End User:
- Government & Public Infrastructure
- Manufacturing & Industrial
Breakup by Region:
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- Saudi Arabia
Explore full report with table of contents: https://www.imarcgroup.com/smart-building-market
Key highlights of the report:
- Market Performance (2014-2019)
- Market Outlook (2020- 2025)
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Market
- Value Chain Analysis
- Structure of the Global Market
- 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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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