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Smart Buildings - Global Market Trajectory & Analytics

  • ID: 4805971
  • Report
  • February 2022
  • Region: Global
  • 606 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • ABB Group
  • BuildingIQ, Inc.
  • Cisco Systems, Inc.
  • Delta Controls Inc.
  • Ecova, Inc.
  • GridPoint, Inc.

Global Smart Buildings Market to Reach US$111.5 Billion by the Year 2026


Smart buildings refer to any structure that is integrated or retrofitted with Internet-enabled, inter-connected appliances and devices. Smart buildings are emerging into the spotlight for their ability to achieving net zero carbon reduction targets, increase energy efficiency, and save energy. By using technologies like AI, IoT, big data, blockchain to connect buildings, transport and infrastructure, smart buildings can create a new ecosystem that can utilize more renewable energy, minimize energy waste, and slash carbon emissions. The need to switch over to smart buildings has arisen owing to the numerous benefits and ability to overcome challenges faced by the world. They help improve occupant productiveness with lighting, air quality, thermal comfort, physical security and sanitation among others and above all minimize overheads and environmental impact when compared to non-connected buildings. They are expected to play big role in addressing climate change targets. Smart hospitals, healthcare facilities, office buildings, educational institutions, gyms and stadiums are all examples of smart buildings whose numbers are increasing across the world. Smart buildings use their intelligence for collecting data that is actionable from on-premise sensors, user devices, services and systems. The application of that data through machine learning and artificial intelligence (ML/AI) makes such buildings programmable and duly responsive to their users` needs as also that of their managers. The network intelligence also helps in securing the network.

Amid the COVID-19 crisis, the global market for Smart Buildings estimated at US$63 Billion in the year 2020, is projected to reach a revised size of US$111.5 Billion by 2026, growing at a CAGR of 10.2% over the analysis period. Solutions, one of the segments analyzed in the report, is projected to grow at a 9.4% CAGR to reach US$69.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 11.4% CAGR for the next 7-year period. This segment currently accounts for a 40.8% share of the global Smart Buildings market. The idea of smart buildings is garnering considerable attention in the wake on COVID-19 pandemic that has redirected the focus and accelerated endeavors towards energy efficiency, health & wellbeing, connectivity and sustainability. The scenario is witnessing increasing requirement for preventative maintenance, remote monitoring and highly usable spaces.



The U.S. Market is Estimated at $20.5 Billion in 2021, While China is Forecast to Reach $17 Billion by 2026


The Smart Buildings market in the U.S. is estimated at US$20.5 Billion in the year 2021. The country currently accounts for a 30.33% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$17 Billion in the year 2026 trailing a CAGR of 12.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8% and 9.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.6% CAGR while Rest of European market (as defined in the study) will reach US$8.6 Billion by the end of the analysis period.

Select Competitors (Total 201 Featured) -

  • ABB Group
  • BuildingIQ, Inc.
  • Cisco Systems, Inc.
  • Delta Controls Inc.
  • Ecova, Inc.
  • GridPoint, Inc.
  • Honeywell International, Inc.
  • IBM Corporation
  • Johnson Controls International PLC
  • Legrand North America LLC
  • Schneider Electric SA
  • Siemens AG
  • United Technologies Corporation (UTC)
  • Verdigris Technologies, Inc.
Frequently Asked Questions about the Global Market for Smart Buildings

What is the estimated value of the Global Market for Smart Buildings?

The Global Market for Smart Buildings was estimated to be valued at $63.0 Billion in 2020.

What is the growth rate of the Global Market for Smart Buildings?

The growth rate of the Global Market for Smart Buildings is 10.0%, with an estimated value of $111.5 Billion by 2026.

What is the forecasted size of the Global Market for Smart Buildings?

The Global Market for Smart Buildings is estimated to be worth $111.5 Billion by 2026.

Who are the key companies in the Global Market for Smart Buildings?

Key companies in the Global Market for Smart Buildings include ABB Group, BuildingIQ, Inc., Cisco Systems, Inc., Delta Controls Inc., Ecova, Inc., GridPoint, Inc., Honeywell International, Inc., IBM Corporation and Legrand North America LLC.

FEATURED COMPANIES

  • ABB Group
  • BuildingIQ, Inc.
  • Cisco Systems, Inc.
  • Delta Controls Inc.
  • Ecova, Inc.
  • GridPoint, Inc.

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Smart Buildings – Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Sustainability Remains at the Core of the Emergence & Evolution of Smart Buildings
  • The World Reaches Tipping Points in the Climate System
  • As Time Runs Out, the March Towards Sustainability Must Get Firmer, Faster & Stronger: Global CO2 Emissions in Billion Metric Tons of CO2 Per Year
  • Here’s How Buildings Contribute Towards Climate Change
  • Carbon Footprint Forecasts for Buildings (In Billion Metric Tons) for Years 2020, 2025, 2030, 2035, 20240, 2045 & 2050
  • Sustainability Becomes More Important than Ever. Here’s Why
  • As Global Temperatures Rise to Worrisome Levels Sustainable Investments Will Emerge Into an Unstoppable Force in the Coming Decade: Global Investments in Sustainability (In US$ Billion) for Years 2015, 2018, 2020 and 2022
  • The Never-Ending “Race” Between the Virus & Vaccines Continues. Amidst this Chaotic Battle, Where is the World Economy Heading Now & Beyond?
  • Omicron Variant Brings Back Memories & Fears of the Worst Part of the 2020 Pandemic
  • With New Strains Emerging at an Alarming Rate, Focus Shifts to Booster Doses & Vaccine Tweaking. But How Practical Is It to Implement Them?
  • With Vaccinated Population Showing Signs of Declining Clinical Protection, Booster Doses Are Emerging Into a Necessity to Restore Vaccine Effectiveness, but this Strategy is Not Within Reach for Most Countries: Number of Booster Doses Administered Per 100 People by Country as of December 2021
  • At the Dawn of 2022, We Leave Behind Millions of Deaths Due to New Strains & Once Again Stare at an Impending Catastrophe
  • How & When Will the World Be Vaccinated? Global Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
  • Split Scenarios Unfold: The Great Vaccine Divide Emerges
  • Vaccine Imbalances to Stretch the Pandemic Further into 2022: Global Percentage (%) of Population Administered With Vaccines by Region as of November 2021
  • Amid this Prolonged Pandemic, Why Should Businesses Care About Progress on Vaccinations?
  • With IMF Making an Upward Revision of Global GDP for 2021, Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
  • A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Easing Unemployment Levels in 2021 & 2022 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2019, 2020, 2021, and 2022
  • Smart Buildings: Overview & Benefits
  • Recent Market Activity
  • Innovations

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Focus on Net Zero Energy Buildings (NZEB) Awakens Interest in Smart Building Technologies
  • Rising Popularity of Net Zero Buildings Brings Into the Spotlight the Concept of Smart Buildings & Enabling Technologies: Global Opportunity for Net-Zero Energy Buildings (NZEBs) (In US$ Million) for Years 2021, 2023, 2025 and 2027
  • BiPV Rises in Prominence Amid the Growing Clamor for Smart Buildings
  • Roofing: The Focus Area for BIPV
  • Building Energy Management System (BeMS) Emerges to be Crucial to the Net Zero Energy Goal in Smart Buildings
  • The Pandemic’s Push to Renovate & Build Smarter Buildings Bodes Well for Market Growth
  • With Connectivity Being the Most Critical Element of Smart Buildings, In-Building Wireless (IBW) Emerges Into the Spotlight
  • A Review of the Growing Role of PoE in Smart Buildings
  • Special Focus on PoE Lighting
  • AI to Revolutionize Smart Buildings in Ways Hitherto Unimagined
  • Smart Building Analytics Rises in Prominence
  • 5G to Accelerate Smart Building Adoption
  • The Future of 5G is Unquestioned: 5G Contribution to GDP in Select Countries by 2030 (In US$ Billion)
  • IoT-powered Building Management System, A Gamechanger for Smart Buildings
  • Predictive Maintenance Crucial to Curtailing Smart Building Maintenance Costs
  • Sharp Increase in Cyberattacks Brings to Fore the Importance of Adopting Cybersecurity Measures to Secure Smart Buildings

4. GLOBAL MARKET PERSPECTIVE

TABLE 1: World Recent Past, Current & Future Analysis for Smart Buildings by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
TABLE 2: World 7-Year Perspective for Smart Buildings by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2021 & 2027
TABLE 3: World Recent Past, Current & Future Analysis for Solutions by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
TABLE 4: World 7-Year Perspective for Solutions by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
TABLE 5: World Recent Past, Current & Future Analysis for Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
TABLE 6: World 7-Year Perspective for Services by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
TABLE 7: World Recent Past, Current & Future Analysis for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
TABLE 8: World 7-Year Perspective for Commercial by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
TABLE 9: World Recent Past, Current & Future Analysis for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
TABLE 10: World 7-Year Perspective for Industrial by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
TABLE 11: World Recent Past, Current & Future Analysis for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
TABLE 12: World 7-Year Perspective for Residential by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027

III. MARKET ANALYSIS

UNITED STATES

  • Smart Buildings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
TABLE 13: USA Recent Past, Current & Future Analysis for Smart Buildings by Component - Solutions and Services - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 14: USA 7-Year Perspective for Smart Buildings by Component - Percentage Breakdown of Value Revenues for Solutions and Services for the Years 2021 & 2027
TABLE 15: USA Recent Past, Current & Future Analysis for Smart Buildings by Building Type - Commercial, Industrial and Residential - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 16: USA 7-Year Perspective for Smart Buildings by Building Type - Percentage Breakdown of Value Revenues for Commercial, Industrial and Residential for the Years 2021 & 2027

CANADA

TABLE 17: Canada Recent Past, Current & Future Analysis for Smart Buildings by Component - Solutions and Services - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 18: Canada 7-Year Perspective for Smart Buildings by Component - Percentage Breakdown of Value Revenues for Solutions and Services for the Years 2021 & 2027
TABLE 19: Canada Recent Past, Current & Future Analysis for Smart Buildings by Building Type - Commercial, Industrial and Residential - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 20: Canada 7-Year Perspective for Smart Buildings by Building Type - Percentage Breakdown of Value Revenues for Commercial, Industrial and Residential for the Years 2021 & 2027

JAPAN

  • Smart Buildings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
TABLE 21: Japan Recent Past, Current & Future Analysis for Smart Buildings by Component - Solutions and Services - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 22: Japan 7-Year Perspective for Smart Buildings by Component - Percentage Breakdown of Value Revenues for Solutions and Services for the Years 2021 & 2027
TABLE 23: Japan Recent Past, Current & Future Analysis for Smart Buildings by Building Type - Commercial, Industrial and Residential - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 24: Japan 7-Year Perspective for Smart Buildings by Building Type - Percentage Breakdown of Value Revenues for Commercial, Industrial and Residential for the Years 2021 & 2027

CHINA

  • Smart Buildings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
TABLE 25: China Recent Past, Current & Future Analysis for Smart Buildings by Component - Solutions and Services - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 26: China 7-Year Perspective for Smart Buildings by Component - Percentage Breakdown of Value Revenues for Solutions and Services for the Years 2021 & 2027
TABLE 27: China Recent Past, Current & Future Analysis for Smart Buildings by Building Type - Commercial, Industrial and Residential - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 28: China 7-Year Perspective for Smart Buildings by Building Type - Percentage Breakdown of Value Revenues for Commercial, Industrial and Residential for the Years 2021 & 2027

EUROPE

  • Smart Buildings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
TABLE 29: Europe Recent Past, Current & Future Analysis for Smart Buildings by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
TABLE 30: Europe 7-Year Perspective for Smart Buildings by Geographic Region - Percentage Breakdown of Value Revenues for France, Germany, Italy, UK and Rest of Europe Markets for Years 2021 & 2027
TABLE 31: Europe Recent Past, Current & Future Analysis for Smart Buildings by Component - Solutions and Services - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 32: Europe 7-Year Perspective for Smart Buildings by Component - Percentage Breakdown of Value Revenues for Solutions and Services for the Years 2021 & 2027
TABLE 33: Europe Recent Past, Current & Future Analysis for Smart Buildings by Building Type - Commercial, Industrial and Residential - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 34: Europe 7-Year Perspective for Smart Buildings by Building Type - Percentage Breakdown of Value Revenues for Commercial, Industrial and Residential for the Years 2021 & 2027

FRANCE

  • Smart Buildings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
TABLE 35: France Recent Past, Current & Future Analysis for Smart Buildings by Component - Solutions and Services - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 36: France 7-Year Perspective for Smart Buildings by Component - Percentage Breakdown of Value Revenues for Solutions and Services for the Years 2021 & 2027
TABLE 37: France Recent Past, Current & Future Analysis for Smart Buildings by Building Type - Commercial, Industrial and Residential - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 38: France 7-Year Perspective for Smart Buildings by Building Type - Percentage Breakdown of Value Revenues for Commercial, Industrial and Residential for the Years 2021 & 2027

GERMANY

  • Smart Buildings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
TABLE 39: Germany Recent Past, Current & Future Analysis for Smart Buildings by Component - Solutions and Services - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 40: Germany 7-Year Perspective for Smart Buildings by Component - Percentage Breakdown of Value Revenues for Solutions and Services for the Years 2021 & 2027
TABLE 41: Germany Recent Past, Current & Future Analysis for Smart Buildings by Building Type - Commercial, Industrial and Residential - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 42: Germany 7-Year Perspective for Smart Buildings by Building Type - Percentage Breakdown of Value Revenues for Commercial, Industrial and Residential for the Years 2021 & 2027

ITALY

TABLE 43: Italy Recent Past, Current & Future Analysis for Smart Buildings by Component - Solutions and Services - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 44: Italy 7-Year Perspective for Smart Buildings by Component - Percentage Breakdown of Value Revenues for Solutions and Services for the Years 2021 & 2027
TABLE 45: Italy Recent Past, Current & Future Analysis for Smart Buildings by Building Type - Commercial, Industrial and Residential - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 46: Italy 7-Year Perspective for Smart Buildings by Building Type - Percentage Breakdown of Value Revenues for Commercial, Industrial and Residential for the Years 2021 & 2027

UNITED KINGDOM

  • Smart Buildings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
TABLE 47: UK Recent Past, Current & Future Analysis for Smart Buildings by Component - Solutions and Services - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 48: UK 7-Year Perspective for Smart Buildings by Component - Percentage Breakdown of Value Revenues for Solutions and Services for the Years 2021 & 2027
TABLE 49: UK Recent Past, Current & Future Analysis for Smart Buildings by Building Type - Commercial, Industrial and Residential - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 50: UK 7-Year Perspective for Smart Buildings by Building Type - Percentage Breakdown of Value Revenues for Commercial, Industrial and Residential for the Years 2021 & 2027

REST OF EUROPE

TABLE 51: Rest of Europe Recent Past, Current & Future Analysis for Smart Buildings by Component - Solutions and Services - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 52: Rest of Europe 7-Year Perspective for Smart Buildings by Component - Percentage Breakdown of Value Revenues for Solutions and Services for the Years 2021 & 2027
TABLE 53: Rest of Europe Recent Past, Current & Future Analysis for Smart Buildings by Building Type - Commercial, Industrial and Residential - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 54: Rest of Europe 7-Year Perspective for Smart Buildings by Building Type - Percentage Breakdown of Value Revenues for Commercial, Industrial and Residential for the Years 2021 & 2027

ASIA-PACIFIC

  • Smart Buildings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
TABLE 55: Asia-Pacific Recent Past, Current & Future Analysis for Smart Buildings by Component - Solutions and Services - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 56: Asia-Pacific 7-Year Perspective for Smart Buildings by Component - Percentage Breakdown of Value Revenues for Solutions and Services for the Years 2021 & 2027
TABLE 57: Asia-Pacific Recent Past, Current & Future Analysis for Smart Buildings by Building Type - Commercial, Industrial and Residential - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 58: Asia-Pacific 7-Year Perspective for Smart Buildings by Building Type - Percentage Breakdown of Value Revenues for Commercial, Industrial and Residential for the Years 2021 & 2027

REST OF WORLD

TABLE 59: Rest of World Recent Past, Current & Future Analysis for Smart Buildings by Component - Solutions and Services - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 60: Rest of World 7-Year Perspective for Smart Buildings by Component - Percentage Breakdown of Value Revenues for Solutions and Services for the Years 2021 & 2027
TABLE 61: Rest of World Recent Past, Current & Future Analysis for Smart Buildings by Building Type - Commercial, Industrial and Residential - Independent Analysis of Annual Revenues in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 62: Rest of World 7-Year Perspective for Smart Buildings by Building Type - Percentage Breakdown of Value Revenues for Commercial, Industrial and Residential for the Years 2021 & 2027

IV. COMPETITION

  • Total Companies Profiled: 201

A selection of companies mentioned in this report includes:

  • ABB Group
  • BuildingIQ, Inc.
  • Cisco Systems, Inc.
  • Delta Controls Inc.
  • Ecova, Inc.
  • GridPoint, Inc.
  • Honeywell International, Inc.
  • IBM Corporation
  • Johnson Controls International PLC
  • Legrand North America LLC
  • Schneider Electric SA
  • Siemens AG
  • United Technologies Corporation (UTC)
  • Verdigris Technologies, Inc.