Smart Building Market Size, Share & COVID-19 Impact Analysis, By Component (Solutions and Services), By Application (Residential and Commercial), and Regional Forecast, 2022-2029
Fortune Business Insightspublished the latest research report on the Smart Building Market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, theSmart Building Marketstudy demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.
- The Global Smart Building Market was estimated to be valued at USD 67.6 Billion in 2021.
- The growth rate of the Global Smart Building Market is 22.2 %, with an estimated value of USD 328.62 Billion by 2029.
- The Global Smart Building Market is estimated to be worth USD 328.62 Billion by 2029.
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Report Details:
| ATTRIBUTE | DETAILS |
| Market Size Value in 2021 | USD 67.6 Billion |
| Growth Rate | CAGR of22.2 % from2022-2029 |
| Revenue forecast in 2029 | USD 328.62 Billion |
Driving Factor:
Increasing Energy Consumption to Fuel Market Development
Increasing concerns regarding energy consumption are expected to fuel energy-efficient technology and energy adoption. For example, IBM Corporation’s IoT and Smart Building 2019 report mentions that real estate and commercial buildings utilize 50% hydro energy. Further, the report mentions that the buildings are expected to adopt maximum energy by the end of 2025. Also, stringent government investments and rising green building projects are expected to boost the product adoption. Additionally, improving lifestyles and rapid digitization are expected to bolster the technologies’ demand. These factors are likely to drive the smart building market growth.
However, increasing cyber-attacks in connected buildings are expected to hamper industry development.
This Report Answers the Following Questions:
- What are the Smart Building Market growth drivers, hindrances, and dynamics?
- Which Smart Building Market companies would lead the market by generating the largest revenue?
- How will the companies surge the processes adoption amid the COVID-19 pandemic?
- Which region and segment would dominate theSmart Building Market in the coming years?
Major companies in Smart Building Market Report are:
- Cisco Systems, Inc. (U.S.)
- Siemens AG (Germany)
- ABB Ltd. (Switzerland)
- Schneider Electric SE (France)
- Endeavor Business Media (U.S.)
- IBM Corporation (U.S.)
- Legrand SA (U.S.)
- Honeywell International Inc. (U.S.)
- Johnson Controls Inc. (U.S.)
- Hitachi, Ltd. (U.S.)
Pre-Post COVID-19 Impact on Global Smart Building Market
COVID-19 is an infectious disease caused by the most recently discovered novel corona virus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks.
In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the Smart Building Market, since end-user industries were still not operating at their full capacity.
Secondary Research:
This research study made extensive use of secondary sources, directories, and databases such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource to identify and collect information useful for a technical, market-oriented, and commercial study of the global Smart Building Market. Other secondary sources included company annual reports, press releases, and investor presentations, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research:
Various sources from both the supply and demand sides were interviewed during the primary research process to obtain qualitative and quantitative information for this report. Primary sources included industry experts from the core and related industries, as well as preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations from all segments of the value chain of this industry. To obtain and verify critical qualitative and quantitative information, in-depth interviews were conducted with a variety of primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants.
Estimation of Market Size
The total size of the Smart Building Market was estimated and validated using both top-down and bottom-up approaches. These methods were also widely used to estimate the size of various market sub segments. The following research methodologies were used to estimate market size:
Extensive secondary research was used to identify the industry’s key players.
The revenues generated by the market’s leading players in molecular diagnostics have been determined through primary and secondary research.
All percentage shares, splits, and breakdowns were calculated using secondary sources and confirmed using primary sources.
KEY QUESTIONS ANSWERED:
- What is the Smart Building Marketsize and growth rate of the global and regional market by various segments?
- What is the Smart Building Market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Smart Building Market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest Smart Building Market share?
Key Questions Answered in this Report
1) What were the pre and post-business impacts of COVID-19 on the Smart Building Market?
2) What is the market size, share?
3) Who are the top key players in the market?
4) What will be the future market of the Smart Building Market?
Key Offerings:
- Smart Building Market Size and Forecast by Revenue | 2022−2029
- Smart Building Market Dynamics Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape Top key vendors and other prominent vendors
Table of Contents with Major Points:
1.Executive Summary
1.1. Market Snapshot
1.2. Global and Segmental Market Estimates and Forecasts, 2018-2029 (USD Billion)
1.2.1. Smart Building Market, by Region, 2018-2029 (USD Billion)
1.2.2. Smart Building Market, by Type, 2018-2029 (USD Billion)
1.2.3. Smart Building Market, by Application, 2018-2029 (USD Billion)
1.2.4. Smart Building Market, by Verticles, 2018-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
2.Global Smart Building Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition and Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
3.Global Smart Building Market Dynamics
3.1. Smart Building Market Impact Analysis (2018-2029)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
4.Global Smart Building Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2029)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation and Conclusion
5.Global Smart Building Market, by Type
5.1. Market Snapshot
5.2. Global Smart Building Market by Type, Performance Potential Analysis
5.3. Global Smart Building Market Estimates and Forecasts by Type 2018-2029 (USD Billion)
5.4. Smart Building Market, Sub Segment Analysis
6.Global Smart Building Market, by Application
6.1. Market Snapshot
6.2. Global Smart Building Market by Application, Performance Potential Analysis
6.3. Global Smart Building Market Estimates and Forecasts by Application 2018-2029 (USD Billion)
6.4. Smart Building Market, Sub Segment Analysis
6.4.1. Others
7.Global Smart Building Market, by Verticles
7.1. Market Snapshot
7.2. Global Smart Building Market by Verticles, Performance Potential Analysis
7.3. Global Smart Building Market Estimates and Forecasts by Verticles 2018-2029 (USD Billion)
7.4. Smart Building Market, Sub Segment Analysis
8.Global Smart Building Market, Regional Analysis
8.1. Smart Building Market, Regional Market Snapshot
8.2. North America Smart Building Market
8.3. Europe Smart Building Market Snapshot
8.4. Asia-Pacific Smart Building Market Snapshot
8.5. Latin America Smart Building Market Snapshot
8.6. Rest of The World Smart Building Market
9.Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Keyplayer1
9.2.1.1. Key InDurationation
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments
10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Smart Building Market Projected to Surpass US $ 265.37 Billion During the 2022-2029 Forecast Timeframe | Fortune Business Insights
