Buildings installed with structured wiring which allows occupants control an array of electronic home equipments from a remote location are referred as smart buildings. These electronic devices can be line up by entering a single and simple command. Advent of smart building has allowed homeowners to control home or building lighting system, program their entertainment system, to switch on and off home appliances and other tasks. Smart building helps in minimize the operating costs, carbon emission as well as energy consumption. The surging number of smart cities across the world combined with the escalating demand for energy-efficient buildings is significantly driving the market growth. Moreover, the rising penetration of Internet-of-Things (IoT)-enabled devices for remote monitoring of devices is also enhancing the market for smart buildings. The increasing popularity of building automation systems concerning to security, entertainment, telecommunications and facility management, is further compelling the smart building market growth. The market is also propelled by the increasing levels of urbanization along with the rising number of government initiatives for developing smart infrastructures, among both developed as well as developing countries. In addition to this, the increasing consumer inclination towards the requirement for energy conservation has further resulted in the emergence of energy-efficient and environmentally sustainable buildings. Furthermore, the significant penetration of Building Information Modeling (BIM) and intelligent prefabrication systems is also boosting the development of advanced infrastructures. Several innovative technologies, such as big data, cloud computing, data analytics, and artificial intelligence (AI), are also assisting in eliminating building equipment downtime and minimizing operational costs. Apart from this, the increasing security concerns have also resulted in the increasing adoption of access control, video surveillance and emergency systems in smart buildings. On contrary, the dearth of cooperation among standard bodies is a factor which is limiting the market growth.

Additionally, the emergence of 5G technology improves new and powerful intelligent building capabilities and plays an important role in the growth of IoT-enabled devices by facilitating efficient real-time operational and analytic capabilities. A large amount of data is produced due to IoT-enabled devices in smart buildings; anyhow 5G technology allows faster building data transport, interpretation and efficient actions taken in an economical manner.

The global Smart Buildings Market is segregated on the basis of System as Parking Management System, Physical Security System, BEMS and Others. Based on Technology the global Smart Buildings Market is segmented in Wireless Technology, Bus Technology and Others. Based on Application the global Smart Buildings Market is segmented in Residential, Commercial and Industrial.

The global Smart Buildings Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Smart Buildings Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

Honeywell International, Inc., Control4 Corporation, Hcl Technologies Limited, Advantech Co. Ltd, Hitachi Ltd and others are among the major players in the global Smart Buildings Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In May 2019, Hitachi Vantara, a completely owned subsidiary of Hitachi, introduced Lumada Video Insights, an end-to-end, intelligent and adaptable suite of applications which provides operational safety and business intelligence BI utilizing IoT, artificial intelligence (AI), video and analytics. This solution improves the Lumada platform and services ecosystem with its advanced AI, computer vision, data integration, advanced analytics and orchestration abilities to help which assists enterprise and industrial customers to propel their IoT initiatives and improve their own smart spaces and ecosystems.
• In July 2019, Hitachi elevators utilize AI and IoT to develop a smart building ecosystem where the company intends to offer a broad range of buildings with multi-directional, custom-designed, in-building transportation solutions.
• In 2020, Johnson Control introduced a New York Rooftop line, particularly designed to enhance the energy efficiency and to meet the present and future requirements of end users and contractors.
• The global Smart Buildings Market has been segmented as below:

Smart Buildings Market, By System

• Parking Management System
• Physical Security System
• BEMS
• Others

Smart Buildings Market, By Technology

• Wireless Technology
• Bus Technology
• Others

Smart Buildings Market, By Application

• Residential
• Commercial
• Industrial

Smart Buildings Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

Smart Buildings Market, By Company

• Honeywell International, Inc.
• Control4 Corporation
• Hcl Technologies Limited
• Advantech Co. Ltd
• Hitachi Ltd
• Schneider Electric Se
• Ibm Corporation
• Cisco Systems
• Panasonic Corporation
• Emerson Electric Co.
• Geze Gmbh
• Overkiz
• Abb Group
• United Technologies Corporation
• Huawei Technologies Co. Ltd,
• Johnson Controls International Plc

The report covers the below scope:

• Global Smart Buildings Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Smart Buildings Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Smart Buildings Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Smart Buildings Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Smart Buildings Market share. Major industry players with significant revenue share include Honeywell International, Inc., Control4 Corporation, Hcl Technologies Limited, Advantech Co. Ltd, Hitachi Ltd and others.

Why to Buy this Report:

• Gain detailed insights on the Smart Buildings industry trends
• Find complete analysis on the market status
• Identify the Smart Buildings Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

Free and Paid Customization based on the requirement