Global Smart Building Market Key Players, Share, Trend, Segmentation and Forecast to 2025
Smart Building integrates technology and energy management system with buildings, automating the process thereof. Some of the major functions of smart buildings are temperature control, air-condition control, security control,lighting control, network management, ventilation, water management, fire alarm etc. All these operations are controlled by sensors and microchips, which in turn accumulate data and organize them according to their respective functions and services. Smart buildings help in providing better asset security,performance, and experience to building owners, staff and operators. Key benefit of smart buildings is that they are energy efficient, thereby enhancing productivity gains.
One of the key factors supporting the growth of the market for smart buildings is a growing global need for reducing energy consumption, by both individuals and organizations. In addition, penetration of the Internet of Things (IoT), control systems and automation systems are also propelling growth of the smart building market. For instance, Siemens AG developed a building automation technology called as Desigo CC, which integrates all building systems such as heat, ventilation, lighting, video surveillance etc. into one single platform that can be operated intuitively. Moreover, development of smart cities across the globe is also a driving factor in the growth of the smart building market. However, factors such as high initial cost, lack of open standard and lack of a skilled workforce are some of the factors that are hampering the growth of the smart building market.
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The Global Smart Building market has been segmented based on the building type, building automation type and key geographies. Basing on the product type, the market is segmented into Residential and Commercial. Commercial buildings are further categorised into government, industrial, hospitals,airports, universities, among others. On the basis of building automation software type, the market is categorized into energy management software,security systems infrastructure management software and others and based on geography.
The research report ‘Global Smart Building Market’provides an in-depth analysis of global smart building market based on building type, building automation type and major geographies for the forecasted period,i.e. from 2018 to 2025. The report also highlights the major market drivers propelling growth, as well as indicates challenges faced by market participants; it also provides the market size, basing on which it forecasts the trend in the global smart building market ahead. In addition, the report also analyses the competitive landscape, highlights the major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
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Key questions answered in this research report
1- At what pace is smart building market growing? What will be the growth trend in the future?
2- What are the key drivers and challenges in the current market? Based on the same, what would be the impact of drivers and challenges in the future?
3- What are the regional revenue and forecast breakdowns?Which are the major regional revenue pockets for growth in the building market?
4- What are the various application areas and how they are poised to grow?
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