Smart Building Market: Global Industry Analysis, Trends and Forecasts 2016–2024
The smart building industry has been transferring over the last few years. Many players are busy in becoming part of transformations of the smart building that make it easier to manage energy. Smart building is a building automation to automatically control the building operations such as heating, ventilation, air conditioning, lighting, security and other systems. This system involves different electronic component like sensors, actuators and microchips, in order to collect data and manage it according to a business’ operations and services. It is a distributed control system designed to monitor and manage the mechanical, security, fire and flood safety, lighting, HVAC and humidity control and ventilation systems in a building.
In 2016, the smart building market was valued around USD 15.60 billion and it is expected to grow at CAGR of around 30.02% for the forecast 2017 to 2024. So, the smart building market is expected to grow at around 74.40% by 2024. The report gives detailed segments analysis of smart building market in which the report describes the market into components, application and regional segments. For that, the analysts have considered the present and future trends and the market are estimated from 2017 to 2024. The report included a detailed competitive scenario and portfolio of leading vendors operating in smart building market all across the world. To understand the competitive landscape in the Smart building market, an analysis of Porter’s Five Forces model for the smart building market has also been covered. The study also gives a market attractiveness analysis, wherein the application and regional segments are benchmarked based on their market size, growth rate and general attractiveness for smart building market. In addition, report also describes the drivers, restraints and future opportunities along with their impact as from 2014 to 2024.
Global Smart Building Market: System Insights
Building energy management system, physical security system, building communication systems, plumbing & water management system, parking management systems, and elevators & escalators management system is the component segment of the smart building market. Building energy management system dominated the smart building market in 2016 due to the increasing need to save energy.
Global Smart Building Market: Application Insights
Residential buildings, commercial buildings, hospitality, airports, institutional, industrial, and others are the application segment for smart building market. Commercial building application segment dominated the smart building market due to the growing urbanization in developing countries.
The regional segmentation consists the current and forecast demand for the Middle East & Africa, North America (U.S., Mexico), Europe (UK, France, and Germany), Latin America (Brazil) and Asia Pacific (China, India and Japan) for smart building market.
The companies profiled in the report covered different parameters includes the company overview and financial overview, a product offered by them which can help in assessing competition in the market, business strategies adopted by them along with their recent developments and innovation. Key manufacturers for the global Smart building market share include ABB Ltd., Kawasaki Heavy Industries Ltd., Yaskawa Electric Corp., Fanuc Corp, Kuka AG, Mitsubishi Electric Corp, Adept Technology, Inc., Denso Wave Inc., Rockwell Automation, Inc., and Nachi-Fujikoshi Corp.
This report segment of global smart building market as follows:
Global Smart Building Market: System Segment Analysis
- Building Energy Management System
- Physical Security System
- Building Communication Systems
- Plumbing & Water Management System
- Parking Management Systems
- Elevators & Escalators Management System
Global Smart Building Market: Application Segment Analysis
- Residential buildings
- Commercial buildings
Global Smart Building Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa