The advancement in technology has resulted in adoption of various technology enabled products and services for enabling smart building solutions. Moreover, increase in adoption of smart home and building automations solutions has facilitated in improved operational efficiencies of building assets, critical components, equipment and machineries for seamless functional operation of the building. For instance, currently some of the commonly available smart building related products & services are intelligent security solutions, energy management, building automation, and network management among other solutions that facilitate assistance in improving the building operation efficiency.
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Moreover, the growing penetration of smart building solutions across different end-users such as commercial complexes, manufacturing plant, malls, recreational buildings, universities, residential complexes and offices among others is also anticipated to be major market driving force in the coming years. Thus, the market for smart building is expected to provide numerous lucrative profitable opportunities for the market players in the coming years.
Some of the key players influencing the market are ABB Ltd., BuildingIQ, Cisco, Delta Controls, Honeywell International, IBM, Johnson Controls, Schneider Electric, Siemens AG, and United Technologies Corporation among others.
As leading companies in Smart Building market continues to broaden their addressable market, by expanding its current product portfolio, diversifying its client base, and developing new applications and markets, all the prominent players faces an increasing level of competition, both from start-ups as well the leading global technology and industrial companies in the world. Various companies in the value chain are acquiring other local players and operating through joint ventures with retailers in the market to maintain their position in market and provide efficient solutions to its customers.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It also provides market size and forecast till 2027 for overall smart building market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 16 countries globally along with current trend and opportunities prevailing in the region.
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Besides this, the report analyzes factors affecting Smart building market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions considered in the global Smart building market report.
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