Global Smart Building Market Trends

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Global Smart Building Market Size, Share, and Trends Analysis Report Trends

  • ICT
  • Upcoming Report
  • Nov 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

“Rising Integration of Internet of Things (IoT) Technology into Building Management Systems

The smart building market has experienced significant growth due to the increasing demand for energy efficiency, sustainability, and enhanced building automation systems. One key trend driving this expansion is the integration of Internet of Things (IoT) technology into building management systems (BMS). IoT-enabled devices, such as smart sensors, smart meters, and connected HVAC systems, help optimize energy consumption, reduce operational costs, and improve overall occupant comfort. For instance, advanced systems such as Johnson Controls' Metasys BMS leverage IoT to provide real-time data for more effective management of lighting, heating, and cooling. This interconnected approach allows for predictive maintenance and seamless control, enhancing the building’s operational efficiency. Additionally, with the rise in smart cities and green building certifications, such as LEED, the market continues to evolve. By incorporating smart technology, buildings can not only reduce their environmental impact but also create safer and more comfortable spaces for their occupants, thus driving continued market growth and innovation.

Frequently Asked Questions

The market is segmented based on Segmentation, By Component (Solutions and Services), Solution (Building Infrastructure Management (BIM), Security and Emergency Management, Energy Management, Network Management, and Workforce Management), Service (Consulting, Integration and Deployment, and Support and Maintenance), Building Type (Residential, Commercial, and Industrial) – Industry Trends and Forecast to 2031 .
The Global Smart Building Market size was valued at USD 106.29 USD Billion in 2023.
The Global Smart Building Market is projected to grow at a CAGR of 21% during the forecast period of 2024 to 2031.
The major players operating in the market include Honeywell International , Johnson Controls, Cisco System , Siemens, IBM, Schneider Electric, Intel Corporation, Huawei Technologies Co. , ABB, L&T Technology Services , 75F, Telit, Pointgrab , Logicladder, Spacewell International, PTC, Avnet , Softdel, Wirepath Home Systems LLC, HCL TECHNOLOGIES LIMITED .
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.