Smart Building Market Research Report 2020: Industry Size, Share, Trends, Growth, Sales, Revenue, Risk and Opportunity Assessment with Regional Analysis and Segmentation By Automation (Intelligent Security System (Video Surveillance System, Access Control System, Emergency Management System), Building Energy Management System(Energy Management System, HVAC Control System, Lighting Control System), Infrastructure Management System(Elevators and Escalators Management System, Smart Water Management System, Parking Management System) and Network Management System), By Application (Commercial, Industrial, Government & Public Infrastructure and Residential) by Region (North America, Europe, Asia-Pacific, Middle East & Africa and Central & South America) – Forecast till 2025
In current times, where the need for convenience is rising among people, the need for more comfortable homestay is surging. This can surge the global smart building market, reveals Market Research Future (MRFR). In the case of smart buildings, the utilization of the available resource is high. This is observed as factor that can cause the global smart building market to thrive at 17.44% CAGR in the forecast period (2018 to 2025). Likewise, other benefits of smart buildings are anticipated to cause increase the market value by the end of the forecast period. As per MRFR findings, the worldwide smart building market value that was recorded at USD 8,540.3 Million in 2018, is expected to touch USD 25,725.0 Million by 2025.
MRFR’s list of key players for the global smart building market includes-
United Technologies Corporation (US), Control4 Corporation (US), Panasonic Corporation (Japan), HCL Technologies Limited (India), Johnson Controls International PLC (Ireland), Advantech Co. Ltd (Taiwan), Sony Corporation (Japan), Hitachi Ltd (Japan), Cisco Systems (US), IBM Corporation (US), Emerson Electric Co. (US), Honeywell International, Inc. (US), Overkiz (France), GEZE GmbH (Germany), Siemens AG (Germany), ABB Group (Switzerland), Legrand SA (France), Schneider Electric SE (France), and Huawei Technologies Co. Ltd, (China).
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Recent Industry Update
December 2019: Siemens, an EU company providing automation services, ranked as a leader in IoT platform providers for smart buildings.
In March 2019, Advantech Co., Ltd introduced Verizon-certified LTE Cat-M1 router, ICR-3211B. The ICR-3211B router is the first product launched in the US from Advantech’s new ICR-3200 router line. These two routers are an ideal choice for building automation, energy management, and remote SCADA applications.
In February 2019, Control4 Corporation acquired Switzerland-based NEEO, a manufacturer of the smart home remote, to accelerate its leadership in delivering remotes, touch panels, keypads, and other smart home devices.
In August 2018, Automated Logic, a part of United Technologies Co., launched the OptiFlex virtual integrator platform. This platform monitors a large amount of data across various building subsystems and devices regardless of their manufacturer.
In February 2018, Panasonic Corporation partnered with Schneider Electric, a French multinational corporation, to pioneer energy management systems for next-generation commercial buildings. Under this partnership, Panasonic’s AC smart connectivity solution is integrated with Schneider Electric’s EcoStruxture building solution and intelligent room controllers.
High Rate of Adoption of Automation Processes to Cause Smart Building Market to Gain High Profits
The global Smart Building Market study is segmented by automation and application.
By automation, the market segments are intelligent security system, building energy management system, infrastructure management system, and network management system. The intelligent security system segment comprises emergency management system, video surveillance system, and access control system. The building energy management system segment comprises HVAC Control System, Energy Management System, and Lighting Control System. The infrastructure management system segment comprises smart water management system, parking management system, and elevators and escalators management system. The building energy management segment is likely to contribute significantly to the smart building market growth. The growing need for energy-efficient building to cut-down expenses is driving the need for automated building management system. This is expected to impel the global smart building market growth.
Growing Need for Smart Commercial Space to Boost Smart Building Market
By application, the worldwide smart building market is segmented into government & public infrastructure, commercial, residential, and industrial. Changes in the commercial segment of the market are expected to dictate the progress of the global smart building market. Increase in commercial stores, hotels, and others and the growing application of automation processes in the construction of commercial infrastructure is expected to contribute largely to the expansion of the global smart building market.
Global Smart Building Market to Experience Surge in Revenue Generation
In North America, the early adoption of technologies is expected to cause the smart building market to generate substantial revenue. Companies that are dealing in smart buildings are deploying technologies, such as internet of things and robotics, which is effectively contributing to smanrt buildings. This is likely to cause the market in North America to expand at 13.29% CAGR. MRFR study reveals that the regional market value is likely to increase from USD 3,026.0 Million in 2018 to USD 25,725.0 million by 2025.
Smart city development initiatives by governments of the Asia Pacific region are likely to propel smart building market in the evaluation period. The presence of numerous tech-giants that can provide solutions to construct smart buildings and the affordable labor cost are factors that can impel the APAC market.
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Table of Contents
1 Executive Summary
1.2 Market Attractiveness Analysis
1.2.1 Global Smart Building Market, by Automation
1.2.2 Global Smart Building Market, by Application
1.2.3 Global Smart Building Market, by Region
2 Market Introduction
2.1 Market Definition
2.2 Scope of the Study
2.3 Research Objectives
2.4 Market Structure
3 Research Methodology
4 Market Dynamics
4.2.1 Growing Need for Energy Efficient Building
4.2.2 Increasing Government Initiatives Toward Smart Infrastructure
4.2.3 Drivers Impact Analysis
4.3.1 Lack of Technical Expertise and Infrastructure in Developing Countries
4.3.2 Restraints Impact Analysis
4.4.1 Integration With 5g Technology
List of Tables
Table 1 Prime Energy Consumption Among Asia, 2010 and 2030 (Forecast)
Table 2 Top Asian Smart City Projects and Initiatives
Table 3 Global Smart Building Market, by Automation, 2017–2021 (Usd Million)
Table 4 Global Smart Building Market, by Automation, 2022–2025 (Usd Million)
Table 5 Global Smart Building Intelligent Security System Market, by Type, 2017–2021 (Usd Million)
Table 6 Global Smart Building Intelligent Security System Market, by Type, 2022–2025 (Usd Million)
Table 7 Global Smart Building Video Surveillance System Market, by Region, 2017–2021 (Usd Million)
Table 8 Global Smart Building Video Surveillance System Market, by Region, 2022–2025 (Usd Million)
Table 9 Global Smart Building Access Control System Market, by Region, 2017–2021 (Usd Million)
Table 10 Global Smart Building Access Control System Market, by Region, 2022–2025 (Usd Million)
List of Figures
Figure 1 Market Synopsis
Figure 2 Global Smart Building Market Structure
Figure 3 Bottom-up and Top-down Approaches
Figure 4 Dro Analysis of Global Smart Building Market
Figure 5 Drivers Impact Analysis: Global Smart Building Market
Figure 6 Restraints Impact Analysis: Global Smart Building Market
Figure 7 Value Chain Analysis: Global Smart Building Market
Figure 8 Porter’s Five Forces Analysis: Global Smart Building Market
Figure 9 Global Smart Building Market, by Automation, 2018 (% Share)
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