Global Smart Buildings Market: Snapshot

Digital technology-enabled, people-centric, and sustainable solutions form the backbone of next generation of buildings. The drive for smart buildings among businesses is hidden in their people-centric nature. That is, how flexible are buildings to the changing needs of occupants, architects, and end users should define their business proposition. Over the years, the inroads made by internet of things technologies and their seamless integration with the entire infrastructure fabric are reinforcing the lucrativeness of the smart buildings market. Providers of smart building solutions are leveraging new assortments of sensors and automation systems. The most virulent momentum to the evolution of the smart buildings market perhaps come from the strides made in digital transformation to reduce the carbon footprints in the smart buildings market. This is enabled by the reducing costs of a wide spectrum of technologies that make buildings smart. Another compelling proposition driving interest of facility managers in smart buildings is reducing the return on investments

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Growing numbers of smart energy systems are expected to open new avenues in the smart buildings market. Relentless pursuit of improving the access, efficiency, sustainability, and comfort is expected to propel new advances in the smart buildings market. Technology players who are increasingly focused on expanding the IoT backbone of smart buildings will pave way for innovations in the smart buildings market. They are aiming at improving the interoperability of smart building technologies. However, a telling concern for all stakeholders is the threat of physical and digital stores. The advent of standardized security solutions is a large unmet need. In the coming years, integration of internet of things solutions that consolidate disparate building systems is expected to gather traction in the smart buildings market.      

The research report on the global smart buildings market is an analytical study of the trends and growth indicators that will influence this market over the forecast period of 2016 to 2024. The report providers a granular view of the global smart buildings market and tracks both current and emerging trends that will steer the course of this market in the near future. This report touches upon varied yet important facets such as the construction, maintenance and design of smart buildings. It also discusses technologies that will define the future of smart buildings and their adoption worldwide. Technologies that promote efficiency are central to the growth of this market, which is why our analysts have consulted with key opinion leaders and industry participants to give clients an accurate assessment of what the future holds for the smart buildings market.This market is relatively new, which leads it to be subjected to certain threats – all of these barriers to growth are documented in detail in this market research report. We also offer an overview of the regulatory environment and other rules pertaining to smart cities in general, and smart buildings in particular. Market forecasts are provided on the basis of revenue and by technology/software and hardware that is integrated in smart buildings.  

Overview of the global smart buildings market 

That the construction market will largely be focused on Asia over the next decade (or more) is a well-known fact. However, the future of the construction market lies in smart buildings. A smart building incorporates real-time systems for managing the functioning of a building via a single interface. Smart buildings rely heavily on the use of hardware and software that can not only make the building operate more efficiently, but also make improve its life-span by tracking problems and alerting residents of the same. This is enabled via the installation of building automation systems (BAS) and networking technologies. BAS is the largest segment within the smart buildings market, by market size. Based on building systems that can be automated, the smart buildings market is classified as: building communication systems, parking management, plumbing and water management, and elevator and escalator management systems. The growth of the smart buildings market will be supported by a widespread movement for the reduction of CO2 emission. This market will also witness growth on account of an increasing need for security in both commercial and residential buildings. 

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Segmentation of the global smart buildings market

The market research report on smart buildings segments the overall market by type and application. By type, the smart buildings market is segmented as: building energy management system (BEMS), physical security system, building communication systems, plumbing and water management system, parking management systems, and elevators and escalators management system.  By application, the smart buildings market is classified as: residential buildings, commercial buildings, hospitality, airports, institutional, industrial, and others. 

Companies mentioned in the global smart buildings market research report

 Key market participants that have been profiled in this market research report include: Johnson Controls, ABB, General Electric, CISCO, Hewlett-Packard, Accenture, Ingersoll Rand Security Technologies, Delta Controls, Emerson Electric, Honeywell, Hitachi, IBM, Schneider Electric, Johnson Controls, TYCO International and Siemens.