Dallas, Texas, Oct. 12, 2022 (GLOBE NEWSWIRE) -- Growing government measures to reduce energy use are one of the main drivers boosting the growth of the global smart building market. These developments also show how inclined a nation is to adopt energy-saving technologies. Additionally, the Canadian government is placing a high priority on energy conservation, especially in smart buildings like homes and offices. To further reduce the energy consumption and carbon impact of the building sector, the UK has made notable investments in smart building technologies.
A smart building is a technology that automates certain operations to manage its infrastructure, heating, cooling, lighting, and security systems, among other things. Smaller buildings need a system that can offer information on historical billing analysis, incentive availability, and recommendations for education, behavior, and retrofits, whereas larger buildings need predictive analytics, advanced building, continuous optimization, and building optimization, auto DR, demand response, automated building control, and enterprise integration. To meet these demands, smart building technology is essential. Property owners can modify the temperature within a building by using information from exterior sensors about indoor air quality and how the area is being used. The interior environment is improved and conserved for the purpose of the real-time lighting system. The global smart buildings market size was estimated at USD 69.83 billion in 2021 and is expected to increase by 11.5% CAGR to reach USD 201.19 billion by 2031.
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During the forecast period, the service segment is anticipated to have a higher CAGR. Providers of solutions for the smart buildings sector offer a range of services. Consulting, implementation, support, and maintenance are the different categories of smart buildings solutions. As the global smart buildings industry develops and requires appropriate pre- and post-consulting, solution deployment, and overall management, the services area is predicted to have a bright future. The companies that offer services for smart buildings assist in putting intelligent automation and technology into practice for buildings' cost-effective and efficient operation and maintenance.
This report centers about the top players in global smart building market:
- Cisco Systems
- Siemens AG
- ABB
- Schneider Electric SE
- Endeavor Business Media
- IBM
- Legrand SA
- Honeywell International
- Johnson Controls
- Hitachi
North America is anticipated to have the largest market share in the smart buildings sector in 2021. Estimates predict that North America will make up the majority of the worldwide market for smart buildings. The market in this area is largely controlled by the US. Regarding the use of solutions and services based on Smart Buildings, North America dominates the global market. The US and Canada play a significant role in the development of technology in this region. For instance, US organizations are heavily investing in smart building technologies like building controls and system integration in order to take advantage of energy storage as well as energy efficiency and construct buildings that are safer, smarter, and more sustainable.
Smart Building market Type
Solutions
Services
Smart Building market end-users
Residential
Commercial
Smart Building market by Deployment
Energy Management
Building and Infrastructure
Security and Emergency
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For instance, Endeavor Business Media, LLC introduced Smart Buildings Technology in June 2021, a brand-new initiative aimed at integrating integrated intelligence into both new and existing commercial buildings. The advantages of using cutting-edge technology in commercial buildings will continue to fuel demand for smart buildings over the projection period.
In September 2021, Legrand unveiled Living Now Characteristics, which stands out for its high degree of design purity and the precision of its geometry to fit any home. It can be set up to demonstrate its inventive possibilities with linked smart systems.
Table of content
1. Introduction
2. Research Methodology
3. Market Outlook
4. Smart Building market Type, 2019-2029 (USD Billion)
5. Smart Building market end-users, 2019-2029 (USD Billion)
6. Smart Building market by Deployment, 2019-2029 (USD Billion)
7. Smart Building market Region 2019-2029 (USD Billion)
North America
US
Canada
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
South America
Brazil
Mexico
Rest of South America
Middle East & Africa
8. Competitive Landscape
9. Company Profiles
10. Appendix
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