Smart Building Market Outlook 2026 By Building Automation Software, Size, Share, Trends, Opportunity and Forecast
According to TechSci Research, Global smart building market was valued at USD9366 million in 2019 and is expected to grow at a CAGR of more than 32% during the forecast period. The major factors driving the market include growing need for integrated security and safety systems coupled with the increasing government focus on smart cities. Smart building refers to the automatic and centralized control of a building’s heating, ventilation, air conditioning, lighting, security and other systems. Smart building reduces energy consumption and reduce the overall operational cost.
Global smart building market is segmented by building automation software, services, building type, and region. Based on building automation software, the market is further fragmented into intelligent security system, building energy management system, infrastructure management system and network management system. Building energy management system asserts its dominance over the market and is expected to grow maximum sales in forecast years too. The market has a need for appropriate and tailor-made solutions for optimized energy performance to reduce building energy consumption without compromising comfort or security and enhancing energy performance of the commercial buildings as these buildings consume higher energy and also generate more waste in the form of carbon and other solid wastes.
The outbreak of pandemic has setback global economy in the first half of 2020. However, the economy is now stabilizing because of easing restrictions in the countries and lifting the lockdown. The market is expected to make a comeback by 2021 and continue the impressive growth for the forecast period.
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Some of the leading players in the global smart building market are Honeywell International, ABB Ltd., Schneider Electric, Siemens, Cisco, Johnson Controls, Emerson Electric, Legrand, United Technologies Corporation, etc.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Objective of the Study:
- To analyze and forecast the market size of global smart building.
- To classify and forecast global smart building based on Building Automation software, services, building type and regional distribution.
- To identify drivers and challenges for global smart building.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global smart building.
- To identify and analyze the profile of leading players involved in the manufacturing of global smart building.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of collaboration key vendors across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the key vendors which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service offerings, distribution channels and presence of all major collaboration key vendors across the globe.
TechSci Research calculated the market size of global smart building by using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- System Integrators/Migration Service Providers
- Support & Maintenance Service Providers
- Network security Providers
- System Design & Development Vendors
- Research organizations and consulting companies
- Research Institutes
- Industry associations
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration key vendors, distributors and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global smart building market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, By Building Automation Software Type:
- Intelligent Security System
- Building Energy Management System
- Infrastructure Management System
- Network Management System
- Market, By Services:
- Professional Services
- Managed Services
- Market, By Building Type:
- Commercial Buildings
- Residential Buildings
- Government & Public Infrastructure Facilities
- Educational Institutions
- Others
- Market, by Region:
- Europe
§ United Kingdom
§ France
§ Germany
§ Italy
- Spain
- North America
§ United States
§ Canada
§ Mexico
- Asia-Pacific
§ China
§ Japan
§ Australia
§ India
§ South Korea
- Middle East and Africa
§ UAE
§ Saudi Arabia
§ Qatar
§ South Africa
- South America
§ Brazil
§ Argentina
§ Colombia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global smart building market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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