Overview
The Smart Building Market is expected to reach a 19.7 % CAGR by the forecast period in 2030. The global smart building market is driven by adoption of smart building technology for public infrastructures and increasing use of automated systems in buildings. These factors have helped shape the smart building market and are expected to boost the growth. Companies in the Smart Building Industry could also face challenges such as high cost of connected devices and building systems as well as concerns regarding increased power consumption. The details covered in the smart building market report cover all the aspects of the industry. Smart building market analysts have also shared growth projections in the report and have suggested smart building market players to plan growth strategies accordingly.
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Market Segmentation
The global smart building market has been segmented based on automation and application. On the basis of application, the market for smart building is segmented based on residential, industrial, commercial, and government & public infrastructure. Additionally, the market on the basis of automation, is segmented into network management system, building energy management system (HVAC control system and energy management system, lighting control system), intelligent security system (emergency management system, access control system, video surveillance system), and infrastructure management system (smart water management system, elevators and escalators management system, parking management system).
Factors like high income and demand for increased quality of life and standard of living support the smart building market growth. The performance of the smart building market has also been studied for the past and current years. Additionally, the smart building market report provides analysis of these segments. The smart building market segmental analysis provided in the report offers major details about the smart building market performance and future.
Regional Overview
Companies in the smart building market are spread across the world. The smart building market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The North American smart building market has many companies across the United States, Canada, and Mexico. Europe has companies in the smart building market across Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of the smart building market across India, China, and Japan in the Asia-Pacific region is also presented in the report. The smart building market of the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of the smart building market can be found in the market research report.
Competitive Landscape
The smart building market is supported by rising demand for automated smart home systems and emergence of new connected devices for smart homes. The population growth around the world and increasing demand of smart building market based services and products also support the market growth. However, the smart building market growth can be affected due to lack of awareness and high cost of smart products. The report covers all such details which will help companies in the smart building market to strengthen their business plan and improve their product portfolio. The smart building market research report also provides company profiles of major companies. The company profile of organizations operating in the smart building market discusses strategies, growth plans, size, revenue, and mergers and acquisition details of top companies in the smart building market. The report suggests that a large number of people are using automated systems in buildings to make them smarter as well as energy-efficient. New entrants and established players can plan their strategies based on such insights provided in the smart building market research report.
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Industry News
Buildings IOT announces the selling of its distribution firm, Controlco, to long-time company executives Jason Dewar and Chip Cummins, the tech developer and construction services provider. Controlco recorded double digit growth last year, as well as the top distributor award from Johnson Controls, in the middle of a tumultuous 2020 and continued demand from online distributors.
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