Smart Building Market Trends, Share, Industry Demand and Future Growth by 2025

(SUPER MARKET RESEARCH via Comtex)

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 and is expected to continue its strong growth during by 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. 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 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.

Competitive Landscape With Key Players:

The competitive landscape of the 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 component, technology, end user and region.

Breakup by Component:

  • Hardware
  • Software
  • Service
    • 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
  • Others

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

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Key highlights of the report:

  • Market Performance (2014-2019)
  • Market Outlook (2020-2025)
  • Market Trends
  • 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.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

About Us

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.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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