Smart Buildings Market for Construction Industry Worth USD 141.71 Billion by 2028 – Exclusive Report by Emergen Research

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Smart Building Market Trends size is expected to reach USD 141.71 Billion in 2028 and register a revenue CAGR of 9.9% over the forecast period, according to the latest report by Emergen Research. Increasing number of smart cities across the globe and rising adoption of IoT-enabled Building Management Systems (BMS) and deployment of embedded sensors in buildings and devices are driving global smart buildings market revenue growth.Smart buildings function on advanced digital technologies, algorithms, and building analytics, which mutually benefits tenants, building owners, and management operators. Building analytics converts data created by IoT-enabled building management systems into intelligence, which enables building owners to identify threats, enhance tenant comfort level, and identify cost saving opportunities. Building analytics increases tenant safety and security and helps to lower operating cost, which in turns give higher satisfaction.

Smart Building Market Trends market research report on market, samples and measures quality data on the overall business environment for the forecast period 2018-2028. Comprehensive data on growing investment pockets evaluated in the report on smart buildings market are powered and backed by human answers. The smart buildings report also offers details about market size, market share, revenue growth, and CAGR during the forecast period of 2021-2028. The report also offers key insights about top companies in the market along with a thorough SWOT analysis, Porter’s Five Forces analysis, and feasibility analysis to offer competitive edge to the readers. The report focuses on the recent trends, major challenges and opportunities, and limitations pertaining to the ongoing pandemic.

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Smart Building Market Trends market growth is hampered by factors such as high upfront costs and privacy and security concerns related to hacking or similar threats. State governments, corporations, and others shareholders require co-operation among themselves for Internet of Things (IoT) and existing smart technologies to work together. This co-operation is crucial to leverage maximum potential of these technologies in building smart cities. In addition, rising privacy and security concerns owing to vulnerabilities of IoT-enabled devices is another factor expected to hamper market growth to some extent during the forecast period.

Major Players/Manufacturers profiled in the report are:

Cisco Systems, Inc., Honeywell International Inc., Johnson Controls Internationals, Hitachi Ltd., Schneider Electric, ABB Ltd., Legrand, Siemens AG, Robert Bosch GmbH, and Telit.

Some Key Highlights from the Report

  • Lightning control system segment accounted for significantly large revenue share in 2020 owing to smart time scheduling and daylight harvesting, which helps to save energy. It also helps to analyze patterns of movements and show areas of congestion, and frequently used paths.
  • Educational institutions segment accounted for significantly robust revenue share in 2020 and is expected to register a rapid growth rate during the forecast period. Smart technologies in educational institutions provides brighter lighting, proper ventilation, and adequate energy, among others. This helps to boost learning experience of students.
  • Market in North America accounted for largest revenue share in 2020 owing to rapid adoption of latest smart building solutions and technologies, which include advanced technologies such as data analysis, IoT, and Artificial Intelligence (AI).
  • In January 2020, Johnson Controls International announced the launch of new commercial Rooftop Units (RTUs), which will exceed Department of Energy (DoE) energy efficiency standards of smart buildings by 22%. New commercial rooftop units will help to maximize control, extend smart building equipment life, and reduce operating cost.

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Emergen Research has segmented the global smart buildings market on the basis of automation type, service type, building type, and region:

Automation Type Outlook (Revenue, USD Billion; 2018–2028)

  • Building Management System (BMS)
  • Heating, Ventilation, and Air Conditioning (HVAC)
  • Lightning Control System
  • Emergency Alarm and Evacuation System
  • Audio and Visual Effects
  • Video Surveillance System
  • Elevators and Escalators Systems
  • Fire and Life Safety Alarm
  • Energy Management
  • Others

Service Type Outlook (Revenue, USD Billion; 2018-2028)

  • System Integration and Deployment
  • Support and Maintenance
  • Consulting

Building Type Outlook (Revenue, USD Billion; 2018–2028)

  • Commercial Buildings
  • Residential Building
  • Governmental and Public Infrastructure Facilities
  • Educational Institutions
  • Others

The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2020-2028. According to the regional analysis, the market is primarily spread over key geographical regions as follows:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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The report covers key points of the Smart Building Market Trends market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.

Overview of the Smart Buildings Market Report:

  • Introduction, Product Scope, Market Overview, and Opportunities
  • Analysis of the Manufacturers with sales, revenue, and price analysis
  • Comprehensive analysis of the competitive landscape
  • Extensive profiling of the key competitors along with their business strategies and market size
  • Regional analysis of the market along with sales, revenue, market share, and global position
  • Country-wise analysis of the market along with types, applications, and manufacturing
  • Strategic recommendations to established players as well as new entrants
  • In-depth analysis of the risks, restraints, and limitations in the industry

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