Smart Building Market By Type (Building Automation Software and Services), By Building Type (Residential Buildings, Manufacturing Facilities, Commercial Buildings, Government & Public Infrastructure Facilities, University, School, & Hospital Buildings, and Other Building Types), Industry Trends, Estimation & Forecast, 2023-2030

Market Overview

Smart Buildings consist of connected devices that operate on a common platform with the use of a similar interface, with the aim of reduction of energy consumption along with achieving operational efficiency.

Smart Building market is estimated to reach $176.8 billion by 2030; growing at a CAGR of 10.5% till 2030

Market Dynamics

Reduction in energy consumption and the rising need for connected security & safety systems and Integration of IoT in building automation systems are key driving factors of the market. The reduction in overall energy consumption in residential and industrial buildings and additional benefits of integrated safety and security systems for commercial establishments are the primary factors which would propel the product demand during the forecast period. However, High installation costs, coupled with periodic technical maintenance issues, might hamper the market growth. The reluctance displayed by consumers to install such systems might hamper the growth prospects of the market, with the costs of products factoring in an influential manner before final purchasing of products. Rise in green building initiatives to reduce environmental impact would provide lucrative opportunities for the market in the coming years. The acceleration in the implementation of building practices that result in resource-efficient, healthier, and environmentally sustainable buildings would provide impetus to the market growth prospects.
 
Market Segmentation

The global Smart Building market is primarily classified based on Type and Building Type. Type is further segmented into Building Automation Software and Services. The smart building services include round-the-clock surveillance via on-site personnel and remote access monitoring to enhance product functionality, measurement of energy metrics and analyzation of collected data to identify areas of excess energy consumption, and expert opinion offering to improve, upgrade or replace underperforming components in an attempt to optimize end-product utilization.

By Building Type, the market is divided into Residential Buildings, Manufacturing Facilities, Commercial Buildings, Government & Public Infrastructure Facilities, University, School, & Hospital Buildings, and Other Building Types.

The Manufacturing Facilities segment is poised to witness robust growth over the forecast period.

Regional Analysis
Based on geography, the global Smart Building market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

The rising advancement of network connectivity solutions and integration of data analytics systems are creating opportunities of growth and expansion in the North America market, resulting in more comprehensive installations of end-products and adoption of improved systems to enhance existing building system facilities.

The rising population of Asia-Pacific and demographic trend of migration to urban regions have resulted in acute shortage of land and energy supply in the region, leading to the wide adoption of smart building systems to conserve energy and reduce establishment costs.
 
Key Players

The Smart Building market is moderately consolidated, with key players of the market operating with an expansive global reach and extensive operational capabilities. The companies are involved in the improvement of product technology through research & development initiatives to increase product sales and financial revenue.

Key players operating in the Smart Building industry include Honeywell International Inc., Hitachi, Ltd., Schneider Electric, Johnson Controls, Emerson Electric Co, General Electric, Delta Controls, Cisco Systems, Inc., Ingersoll-Rand plc, and Hewlett Packard Enterprise.
The launch of new products with extensive technological development and addition of business opportunities through the formation of strategic partnerships and collaborations are the primary business strategies followed by the top players of the market looking to capture substantial market share over the forecast period.

Smart Building Market Key Segments

By Type
• Building Automation Software
• Services

By Building Type
• Residential Buildings
• Manufacturing Facilities
• Commercial Buildings
• Government & Public Infrastructure Facilities
• University, School, & Hospital Buildings
• Other Building Types

By Geography

• North America
o The U.S.
o Canada
o Mexico

• Europe
o U.K
o Germany
o France
o Italy
o Rest of Europe

• Asia Pacific
o India
o China
o Japan
o South Korea
o Rest of Asia Pacific

• South America
o Brazil
o Argentina
o Rest of South America

• Middle East & Africa
o GCC Countries
o Egypt
o South Africa
o Rest of Middle East & Africa

Key Global Smart Building Industry Players
• Honeywell International Inc.
• Hitachi, Ltd.
• Schneider Electric
• Johnson Controls
• Emerson Electric Co
• General Electric
• Delta Controls
• Cisco Systems, Inc.
• Ingersoll-Rand plc
• Hewlett Packard Enterprise

Table of Content

1. Market Introduction
1.1. Executive Summary
1.2. Market Definition
1.3. Market Scope

2. Research Methodology
2.1. Primary Research
2.2. Research Methodology
2.3. Assumptions & Exclusions
2.4. Secondary data sources

3. Smart Building Market Overview
3.1. Report Segmentation & Scope
3.2. Key Market Trend
3.3. Drivers
3.3.1. Reduction in energy consumption and the rising need for connected security & safety systems
3.3.2. Integration of IoT in building automation systems
3.4. Restraints
3.4.1. High installation costs coupled with periodic technical maintenance issues
3.5. Opportunity
3.5.1. Rise in green building initiatives to reduce environmental impact
3.6. Porter’s Five Forces Analysis
3.6.1. Porter’s Five Forces Analysis
3.7. Market Share Analysis

4. Type Overview
4.1. Introduction
4.1.1. Market Size & Forecast
4.2. Building Automation Software
4.2.1. Market Size & Forecast
4.3. Services
4.3.1. Market Size & Forecast

5. Building Type Overview
5.1. Introduction
5.1.1. Market Size & Forecast
5.2. Residential Buildings
5.2.1. Market Size & Forecast
5.3. Manufacturing Facilities
5.3.1. Market Size & Forecast
5.4. Commercial Buildings
5.4.1. Market Size & Forecast
5.5. Government & Public Infrastructure Facilities
5.5.1. Market Size & Forecast
5.6. University, School, & Hospital Buildings
5.6.1. Market Size & Forecast
5.7. Other Building Types
5.7.1. Market Size & Forecast

6. Smart Building Market Regional Overview
6.1. Introduction
6.1.1. Market Size & Forecast
6.2. North America Smart Building Market
6.2.1. North America Market Size & Forecast, By Country
6.2.2. North America Market Size & Forecast, By Type
6.2.3. North America Market Size & Forecast, By Building Type
6.2.4. U.S.
6.2.4.1. Market Size and Forecast
6.2.5. Canada
6.2.5.1. Market Size and Forecast
6.2.6. Mexico
6.2.6.1. Market Size and Forecast
6.3. Europe Smart Building Market
6.3.1. Europe Market Size & Forecast, By Country
6.3.2. Europe Market Size & Forecast, By Type
6.3.3. Europe Market Size & Forecast, By Building Type
6.3.4. Germany
6.3.4.1. Market Size and Forecast
6.3.5. France
6.3.5.1. Market Size and Forecast
6.3.6. UK
6.3.6.1. Market Size and Forecast
6.3.7. Italy
6.3.7.1. Market Size and Forecast
6.3.8. Spain
6.3.8.1. Market Size and Forecast
6.3.9. Rest of Europe
6.3.9.1. Market Size and Forecast
6.4. Asia-Pacific Smart Building Market
6.4.1. Asia-Pacific Market Size & Forecast, By Country
6.4.2. Asia-Pacific Market Size & Forecast, By Type
6.4.3. Asia-Pacific Market Size & Forecast, By Building Type
6.4.4. Japan
6.4.4.1. Market Size and Forecast
6.4.5. China
6.4.5.1. Market Size and Forecast
6.4.6. Australia
6.4.6.1. Market Size and Forecast
6.4.7. India
6.4.7.1. Market Size and Forecast
6.4.8. South Korea
6.4.8.1. Market Size and Forecast
6.4.9. Rest of Asia-Pacific
6.4.9.1. Market Size and Forecast
6.5. South America Smart Building Market
6.5.1. South America Market Size & Forecast, By Country
6.5.2. South America Market Size & Forecast, By Type
6.5.3. South America Market Size & Forecast, By Building Type
6.5.4. Brazil
6.5.4.1. Market Size and Forecast
6.5.5. Argentina
6.5.5.1. Market Size and Forecast
6.5.6. Rest of South America
6.5.6.1. Market Size and Forecast
6.6. Middle East & Africa Smart Building Market
6.6.1. Middle East & Africa Market Size & Forecast, By Country
6.6.2. Middle East & Africa Market Size & Forecast, By Type
6.6.3. Middle East & Africa Market Size & Forecast, By Building Type
6.6.4. GCC Countries
6.6.4.1. Market Size and Forecast
6.6.5. Egypt
6.6.5.1. Market Size and Forecast
6.6.6. South Africa
6.6.6.1. Market Size and Forecast
6.6.7. Rest of Middle East & Africa
6.6.7.1. Market Size and Forecast

7. Company Profile
7.1. Honeywell International Inc.
7.1.1. Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
7.1.2. Honeywell International Inc. Product Category, Application, and Specification
7.1.3. Honeywell International Inc. Financial Performance (2016-2018)
7.1.4. Main Business/Business Overview
7.2. Hitachi, Ltd.
7.3. Schneider Electric
7.4. Johnson Controls
7.5. Emerson Electric Co
7.6. General Electric
7.7. Delta Controls
7.8. Cisco Systems, Inc.
7.9. Ingersoll-Rand plc
7.10. Hewlett Packard Enterprise