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Smart Buildings Market by Product, Solution, and Geography - Forecast and Analysis 2021-2025

  • Published: Jan 2022
  • Pages: 120
  • SKU: IRTNTR44719
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The smart buildings market share is expected to increase by USD 64.43 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 13.36%.

This smart buildings market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers smart buildings market segmentation by product (BMS, HVAC, lighting control, security and access control, and others), solution (software, hardware, and services), and geography (North America, Europe, APAC, South America, and MEA). The smart buildings market report also offers information on several market vendors, including ABB Ltd., Advantech Co. Ltd., Cisco Systems Inc., Honeywell International Inc., International Business Machines Corp., Johnson Controls International Plc, Larsen and Toubro Ltd., Raytheon Technologies Corp., Schneider Electric SE, and Siemens AG among others.

What will the Smart Buildings Market Size be During the Forecast Period?

Smart Buildings Market Size

Download Report Sample to Unlock the Smart Buildings Market Size for the Forecast Period and Other Important Statistics

 

Smart Buildings Market: Key Drivers, Trends, and Challenges

The stringent government regulations on energy consumption in buildings is notably driving the smart buildings market growth, although factors such as challenges in integrating building automation software coupled with interoperability issues may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the smart buildings industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Smart Buildings Market Driver

Stringent government regulations on energy consumption in buildings are one of the key factors driving the growth of the global smart buildings market. Growing awareness about global climate change has led to stringent regulations imposed by governments and regulatory authorities worldwide, which, in turn, have increased the demand for building automation software across the world. Regulations on the use and management of energy and energy systems are becoming increasingly stringent as the world is facing a global threat because of climate change. Therefore, more countries are introducing guidelines and legislation to minimize the global carbon footprint. Such factors are playing an important role in driving the growth of the market under focus. The above factors will increase the global smart buildings market growth during the forecast period.

Key Smart Buildings Market Trend

The emergence of customized building automation software will fuel the global smart buildings market growth. Building automation software is developed for the easy monitoring of safety and security controls, using a flexible user interface. With the increase in competition among the vendors of building automation software, more features and operational capabilities are being incorporated into these systems to improve the operation of organizations. Thus, with advances in technology and the need to fine-tune building automation software, several vendors are developing comprehensive, application-specific building management solutions to enhance the overall performance of facility management. The above factors will increase the global smart buildings market growth during the forecast period.

Key Smart Buildings Market Challenge

Challenges in integrating building automation software coupled with interoperability are major issues for the global smart buildings market growth. The integration and running of complex building automation software require technical skills and expertise. As the size of the building increases, the number of subsystems, as well as the related complexity of the overall system, also increases. Building automation systems integrate multiple pieces of equipment and appliances, which makes the interface even more complex. As effective communication between the different hardware systems is necessary for building automation systems to operate efficiently, the interfacing software must ensure that all these devices are compatible while configuring them together on the same platform. In addition, integrating existing legacy systems with new, more complicated software may lead to various integration issues, which may result in faulty installations, increasing the chances of security breaches. Such factors are acting as a market inhibitor for the growth of the market under focus.

This smart buildings market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global smart buildings market as a part of the global information technology (IT) spending market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the smart buildings market during the forecast period.

Who are the Major Smart Buildings Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • Advantech Co. Ltd.
  • Cisco Systems Inc.
  • Honeywell International Inc.
  • International Business Machines Corp.
  • Johnson Controls International Plc
  • Larsen and Toubro Ltd.
  • Raytheon Technologies Corp.
  • Schneider Electric SE
  • Siemens AG

 

This statistical study of the smart buildings market encompasses successful business strategies deployed by the key vendors. The smart buildings market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • ABB Ltd. - The company offers smart building solutions for homes, hotels, offices, industrial buildings, and healthcare.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The smart buildings market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Smart Buildings Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the smart buildings market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global information technology (IT) spending market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Smart Buildings Market?

Smart Buildings Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

34% of the market’s growth will originate from Europe during the forecast period. UK and Germany are the key markets for smart buildings market in Europe. Market growth in this region will be slower than the growth of the market in regions.

Stringent government regulations on energy consumption in buildings will facilitate the smart buildings market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The UK, Germany, Italy, and France were among the severely affected countries by the COVID-19 pandemic in the region. The global outbreak of COVID-19 posed certain challenges to the growth of the regional market in H1 2020 as office spaces and manufacturing sites had to completely shut down. Also, restrictions on cross-border import-export disrupted the supply chain in the regional market. However, the market has started to recover from H2 2020, with the rapid adoption of IoT devices at home. Also, the rising focus of governments across Europe regarding various smart city projects is expected to promote the adoption of smart buildings during the forecast period.

What are the Revenue-generating Product Segments in the Smart Buildings Market?

Smart Buildings Market Share

To gain further insights on the market contribution of various segments Request PDF Sample

The smart buildings market share growth by the BMS segment will be significant during the forecast period. According to Intel Corp., the minimum cost of implementing BMS is $2.50 per square foot, and the maximum cost can be up to $7.0 per square foot. Therefore, the return on investment (ROI) is a big challenge in the global smart buildings market. Usually, for very large buildings, it takes around four years to recover the ROI.

This report provides an accurate prediction of the contribution of all the segments to the growth of the smart buildings market size and actionable market insights on post COVID-19 impact on each segment.

 

Smart Buildings Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 13.36%

Market growth 2021-2025

$ 64.43 billion

Market structure

Fragmented

YoY growth (%)

12.52

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

Europe at 34%

Key consumer countries

US, UK, Germany, China, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ABB Ltd., Advantech Co. Ltd., Cisco Systems Inc., Honeywell International Inc., International Business Machines Corp., Johnson Controls International Plc, Larsen and Toubro Ltd., Raytheon Technologies Corp., Schneider Electric SE, and Siemens AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Smart Buildings Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive smart buildings market growth during the next five years
  • Precise estimation of the smart buildings market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the smart buildings industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of smart buildings market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis

    3 Market Sizing

    • 3.1 Market definition
      • Exhibit 03: Offerings of vendors included in the market definition
    • 3.2 Market segment analysis
      • Exhibit 04: Market segments
    • 3.3 Market size 2020
      • 3.4 Market outlook: Forecast for 2020 - 2025
        • Exhibit 05: Global - Market size and forecast 2020 - 2025 ($ million)
        • Exhibit 06: Global market: Year-over-year growth 2020 - 2025 (%)

      4 Five Forces Analysis

      • 4.1 Five forces summary
        • Exhibit 07: Five forces analysis 2020 & 2025
      • 4.2 Bargaining power of buyers
        • Exhibit 08: Bargaining power of buyers
      • 4.3 Bargaining power of suppliers
        • Exhibit 09: Bargaining power of suppliers
      • 4.4 Threat of new entrants
        • Exhibit 10: Threat of new entrants
      • 4.5 Threat of substitutes
        • Exhibit 11: Threat of substitutes
      • 4.6 Threat of rivalry
        • Exhibit 12: Threat of rivalry
      • 4.7 Market condition
        • Exhibit 13: Market condition - Five forces 2020

      5 Market Segmentation by Product

      • 5.1 Market segments
        • Exhibit 14: Product - Market share 2020-2025 (%)
      • 5.2 Comparison by Product
        • Exhibit 15: Comparison by Product
      • 5.3 BMS - Market size and forecast 2020-2025
        • Exhibit 16: BMS - Market size and forecast 2020-2025 ($ million)
        • Exhibit 17: BMS - Year-over-year growth 2020-2025 (%)
      • 5.4 HVAC - Market size and forecast 2020-2025
        • Exhibit 18: HVAC - Market size and forecast 2020-2025 ($ million)
        • Exhibit 19: HVAC - Year-over-year growth 2020-2025 (%)
      • 5.5 Lighting control - Market size and forecast 2020-2025
        • Exhibit 20: Lighting control - Market size and forecast 2020-2025 ($ million)
        • Exhibit 21: Lighting control - Year-over-year growth 2020-2025 (%)
      • 5.6 Security and access control - Market size and forecast 2020-2025
        • Exhibit 22: Security and access control - Market size and forecast 2020-2025 ($ million)
        • Exhibit 23: Security and access control - Year-over-year growth 2020-2025 (%)
      • 5.7 Others - Market size and forecast 2020-2025
        • Exhibit 24: Others - Market size and forecast 2020-2025 ($ million)
        • Exhibit 25: Others - Year-over-year growth 2020-2025 (%)
      • 5.8 Market opportunity by Product
        • Exhibit 26: Market opportunity by Product

      6 Market Segmentation by Solution

      • 6.1 Market segments
        • Exhibit 27: Solution - Market share 2020-2025 (%)
      • 6.2 Comparison by Solution
        • Exhibit 28: Comparison by Solution
      • 6.3 Software - Market size and forecast 2020-2025
        • Exhibit 29: Software - Market size and forecast 2020-2025 ($ million)
        • Exhibit 30: Software - Year-over-year growth 2020-2025 (%)
      • 6.4 Hardware - Market size and forecast 2020-2025
        • Exhibit 31: Hardware - Market size and forecast 2020-2025 ($ million)
        • Exhibit 32: Hardware - Year-over-year growth 2020-2025 (%)
      • 6.5 Services - Market size and forecast 2020-2025
        • Exhibit 33: Services - Market size and forecast 2020-2025 ($ million)
        • Exhibit 34: Services - Year-over-year growth 2020-2025 (%)
        • Exhibit 35: Description of services involved in smart buildings
      • 6.6 Market opportunity by Solution
        • Exhibit 36: Market opportunity by Solution

      7 Customer landscape

      8 Geographic Landscape

      • 8.1 Geographic segmentation
        • Exhibit 38: Market share by geography 2020-2025 (%)
      • 8.2 Geographic comparison
        • Exhibit 39: Geographic comparison
      • 8.3 Europe - Market size and forecast 2020-2025
        • Exhibit 40: Europe - Market size and forecast 2020-2025 ($ million)
        • Exhibit 41: Europe - Year-over-year growth 2020-2025 (%)
      • 8.4 North America - Market size and forecast 2020-2025
        • Exhibit 42: North America - Market size and forecast 2020-2025 ($ million)
        • Exhibit 43: North America - Year-over-year growth 2020-2025 (%)
      • 8.5 APAC - Market size and forecast 2020-2025
        • Exhibit 44: APAC - Market size and forecast 2020-2025 ($ million)
        • Exhibit 45: APAC - Year-over-year growth 2020-2025 (%)
      • 8.6 South America - Market size and forecast 2020-2025
        • Exhibit 46: South America - Market size and forecast 2020-2025 ($ million)
        • Exhibit 47: South America - Year-over-year growth 2020-2025 (%)
      • 8.7 MEA - Market size and forecast 2020-2025
        • Exhibit 48: MEA - Market size and forecast 2020-2025 ($ million)
        • Exhibit 49: MEA - Year-over-year growth 2020-2025 (%)
      • 8.8 Key leading countries
        • 8.9 Market opportunity by geography
          • Exhibit 51: Market opportunity by geography ($ million)

        9 Drivers, Challenges, and Trends

        • 9.1 Market drivers
          • 9.2 Market challenges
            • Exhibit 52: Impact of drivers and challenges
          • 9.3 Market trends

            10 Vendor Landscape

            • 10.1 Overview
              • Exhibit 53: Vendor landscape
            • 10.2 Landscape disruption
              • Exhibit 54: Landscape disruption
              • Exhibit 55: Industry risks
            • 10.3 Competitive landscape

              11 Vendor Analysis

              • 11.1 Vendors covered
                • Exhibit 56: Vendors covered
              • 11.2 Market positioning of vendors
                • Exhibit 57: Market positioning of vendors
              • 11.3 ABB Ltd.
                • Exhibit 58: ABB Ltd. - Overview
                • Exhibit 59: ABB Ltd. - Business segments
                • Exhibit 60:ABB Ltd. - Key news
                • Exhibit 61: ABB Ltd. - Key offerings
                • Exhibit 62: ABB Ltd. - Segment focus
              • 11.4 Advantech Co. Ltd.
                • Exhibit 63: Advantech Co. Ltd. - Overview
                • Exhibit 64: Advantech Co. Ltd. - Business segments
                • Exhibit 65: Advantech Co. Ltd. - Key offerings
                • Exhibit 66: Advantech Co. Ltd. - Segment focus
              • 11.5 Cisco Systems Inc.
                • Exhibit 67: Cisco Systems Inc. - Overview
                • Exhibit 68: Cisco Systems Inc. - Business segments
                • Exhibit 69:Cisco Systems Inc. - Key news
                • Exhibit 70: Cisco Systems Inc. - Key offerings
                • Exhibit 71: Cisco Systems Inc. - Segment focus
              • 11.6 Honeywell International Inc.
                • Exhibit 72: Honeywell International Inc. - Overview
                • Exhibit 73: Honeywell International Inc. - Business segments
                • Exhibit 74:Honeywell International Inc.. - Key news
                • Exhibit 75: Honeywell International Inc. - Key offerings
                • Exhibit 76: Honeywell International Inc. - Segment focus
              • 11.7 International Business Machines Corp.
                • Exhibit 77: International Business Machines Corp. - Overview
                • Exhibit 78: International Business Machines Corp. - Business segments
                • Exhibit 79:International Business Machines Corp. - Key news
                • Exhibit 80: International Business Machines Corp. - Key offerings
                • Exhibit 81: International Business Machines Corp. - Segment focus
              • 11.8 Johnson Controls International Plc
                • Exhibit 82: Johnson Controls International Plc - Overview
                • Exhibit 83: Johnson Controls International Plc - Business segments
                • Exhibit 84:Johnson Controls International Plc - Key news
                • Exhibit 85: Johnson Controls International Plc - Key offerings
                • Exhibit 86: Johnson Controls International Plc - Segment focus
              • 11.9 Larsen and Toubro Ltd.
                • Exhibit 87: Larsen and Toubro Ltd. - Overview
                • Exhibit 88: Larsen and Toubro Ltd. - Business segments
                • Exhibit 89: Larsen and Toubro Ltd. - Key offerings
                • Exhibit 90: Larsen and Toubro Ltd. - Segment focus
              • 11.10 Raytheon Technologies Corp.
                • Exhibit 91: Raytheon Technologies Corp. - Overview
                • Exhibit 92: Raytheon Technologies Corp. - Product and service
                • Exhibit 93:Raytheon Technologies Corp. - Key news
                • Exhibit 94: Raytheon Technologies Corp. - Key offerings
              • 11.11 Schneider Electric SE
                • Exhibit 95: Schneider Electric SE - Overview
                • Exhibit 96: Schneider Electric SE - Business segments
                • Exhibit 97:Schneider Electric SE - Key news
                • Exhibit 98: Schneider Electric SE - Key offerings
                • Exhibit 99: Schneider Electric SE - Segment focus
              • 11.12 Siemens AG
                • Exhibit 100: Siemens AG - Overview
                • Exhibit 101: Siemens AG - Business segments
                • Exhibit 102:Siemens AG - Key news
                • Exhibit 103: Siemens AG - Key offerings
                • Exhibit 104: Siemens AG - Segment focus

              12 Appendix

              • 12.1 Scope of the report
                • 12.2 Currency conversion rates for US$
                  • Exhibit 105: Currency conversion rates for US$
                • 12.3 Research methodology
                  • Exhibit 106: Research Methodology
                  • Exhibit 107: Validation techniques employed for market sizing
                  • Exhibit 108: Information sources
                • 12.4 List of abbreviations
                  • Exhibit 109: List of abbreviations

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
                Interested in this report?
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                Smart Buildings Market market growth will increase by $64.43 bn during 2021-2025.
                The smart buildings market market is expected to grow at a CAGR of 13.36% during 2021-2025.
                Technavio has segmented the smart buildings market market by product (BMS, HVAC, lighting control, security and access control, and others) ,solution (software, hardware, and services) , and geography (North America, Europe, APAC, South America, and MEA).
                ABB Ltd., Advantech Co. Ltd., Cisco Systems Inc., Honeywell International Inc., International Business Machines Corp., Johnson Controls International Plc, Larsen and Toubro Ltd., Raytheon Technologies Corp., Schneider Electric SE, Siemens AG are a few of the key vendors in the smart buildings market market.
                Europe will register the highest growth rate of 34% among the other regions. Therefore, the smart buildings market market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the smart buildings market market growth are:
                • Stringent government regulations on energy consumption in buildings
                • Emergence of customized building automation software
                The smart buildings market market vendors should focus on grabbing business opportunities from the bms segment as it accounted for the largest market share in the base year.
                • What are the key global market and the regional market share?
                • What are the revenue-generating key market segments?
                • What are the key factors driving and challenging this market’s growth?
                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?
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                • Detailed vendors report with competitive landscape
                • Covid-19 impact and recovery analysis
                • Data on revenue-generating market segments
                • Details on the market shares of various regions
                • Five-force market analysis

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