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Smart Buildings (Nonresidential Buildings) Global Market Report 2023

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    Report

  • 175 Pages
  • February 2023
  • Region: Global
  • The Business Research Company
  • ID: 5735002

Quick Summary:

Global transformations are escalating the demand for smart buildings. In a rapidly evolving world, businesses increasingly require their premises to be more efficient, sustainable, and safer. The smart buildings (non-residential buildings) market points the way forward with integrated automation and control systems that reform the ways businesses operate their facilities.

From commercial hubs to institutional buildings, automation in non-residential facilities has swiftly transitioned from being a novelty to a necessity. IoT technology boosts growth in this area, enabling businesses to automate tasks in smart buildings for higher efficiency. Despite challenges such as potential cyber threats, increasingly, businesses are recognizing the value of Internet of Things (IoT) enabled sensors and devices in improving efficiency, sustainability, and safety.

Our comprehensive market research report provides a detailed insight into the smart buildings (non-residential buildings) market, delving into current trends, potential opportunities and risks, major players, regional outlooks, and more. Don't miss out on this decisive resource to remain competitive and informed in this advancing market.

The global smart buildings (nonresidential buildings) market will grow from $56.18 billion in 2022 to $62.95 billion in 2023 at a compound annual growth rate (CAGR) of 12.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The smart buildings (nonresidential buildings) market is expected to grow to $99.76 billion in 2027 at a CAGR of 12.2%.

The smart buildings (non-residential) construction market includes revenues earned by entities by constructing non-residential smart buildings such as offices, sports, college buildings, and other commercial buildings. The establishments in this market include non-residential general contractors, non-residential for-sale builders, non-residential design-build firms, and non-residential project construction management firms. The non-residential green building construction work performed includes new work, additions, alterations, maintenance, and repairs. Smart buildings use automatic processes to control the buildings' operations such as air conditioning, lighting, security, and other systems. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Smart buildings (non-residential Buildings) construction is the process of building, altering, repairing, improving, or demolishing any non-residential smart home using a detailed design and plan. Smart homes are futuristic buildings equipped with advanced electronics and wireless devices. The smart home system requires a web portal or smartphone application to interact with the automated system as a user interface.

Asia Pacific is the largest region in the smart buildings (non-residential buildings) market in 2022. South America is expected to be the fastest-growing region in the forecast period. The regions covered in the smart buildings (non-residential buildings) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of products in smart buildings (non-residential buildings) are institutional buildings and commercial buildings. Commercial buildings are structures, such as office buildings, retail space, and warehouses, where commercial activity takes place. Intelligent security systems, building energy management systems, infrastructure management systems, network management systems, and other types of automation are used in government, airports, hospitals, institutes, manufacturing and industrial facilities, and other applications. Various types of buildings, include new construction and remodelling projects.

The smart building (non-residential) market is driven by the increasing demand to automate tasks using IoT (Internet of Things) devices. IoT involves sending and receiving data by a network of sensors, appliances, meters, and other devices in a smart building. IoT enabled sensors and devices are used to increase the efficiency of the appliances in a smart building, making it more efficient, sustainable, and safer. For example, a few IoT enabled sensors are capable of automatically turning the lights on and off, sensing the presence in a room, thus adding a distinctive attribute to the smart building. Thus, the increased adoption of IoT technology boosts the growth of the smart building market. For instance, the installed base of connected devices in the commercial smart building vertical is expected to rise from 1.7 billion in 2020 to approximately 3 billion by 2025, indicating a 10.8% CAGR. Thus, the increased use of IoT devices in smart buildings increases the growth of the smart building (non-residential) market.

The risk of potential cyber-attack restricts the growth of the smart building (non-residential) market. A smart building (non-residential) uses a complex network of devices connected over the internet that uses sensors and controllers to control the elevators, ventilation systems, heating systems, lighting, water, video surveillance systems, alarms, and other critical functions. Thus, any security breach caused due to a malicious cyber-attack affects the remote monitoring of temperature, system performance, and other variables of a smart building as a whole, thus restraining the smart building (non-residential) market. Any breach in the cyber security of a smart office building may result in the exploitation of remote access privileges to gain access to the facility. For instance, the cyber attackers used false emails to gain access to the software network of a German steel mill and eventually destroyed the production management software by destroying human machine interaction points (HMI) in the blast furnace systems, causing significant operational damage. Further, according to Verizon Data Breach Investigations Report (DBIR) 2022 update, there was an increase in the number of ransomware attacks by 13 % between 2020 and 2021 Thus, the growth of the smart buildings (non-residential) market is restricted by the risk of cyber-attacks causing operational damage.

The use of 5G technology is the latest trend in the smart building (non-residential) market. 5G technology is the upcoming cellular technology that reduces the time it takes for devices over a wireless network to communicate with each other. 5G implementation in smart buildings will considerably enhance the usage of wireless edge devices, providing rich multimedia experiences. 5G will also improve security check applications for commercial buildings. For smart hospital buildings, the use of 5G is estimated to improve the wayfinding that will enable smart wheelchairs and beds to move immobile patients. Following the trend, Ericsson, a Sweden-based networking and telecommunications company, invested $100 million to develop a smart factory in Texas for implementing 5G technology and rolled its first 5G radio device in 2020. The factory is involved in the manufacturing of advanced antenna system radios to enable rapid 5G deployments. The use of 5G technology is expected to improve the connectivity in smart buildings, thus forming a trend that is witnessing a huge capital investment by the major players in the smart building (non-residential) market.

In March 2020, ABB Ltd., a Switzerland-based technology company, acquired Cylon Controls for an undisclosed amount. The acquisition will strengthen ABB Electrification's presence in the smart commercial building market. Cylon Controls is an Ireland-based company that manufactures and develops smart building components.

The countries covered in the smart buildings (non-residential buildings) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The smart buildings (non-residential buildings) market research report is one of a series of new reports that provides smart buildings (non-residential buildings) market statistics, including smart buildings (non-residential buildings) industry global market size, regional shares, competitors with a smart buildings (non-residential buildings) market share, detailed smart buildings (non-residential buildings) market segments, market trends and opportunities, and any further data you may need to thrive in the smart buildings (non-residential buildings) industry. This smart buildings (non-residential buildings) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Major players in the smart buildings (non-residential buildings) market are Johnson Controls, ABB Ltd., Siemens AG, Honeywell International Inc., Hitachi, IBM, Schneider Electric, Hewlett-Packard, TYCO International and Siemens, Legrand SA.



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Frequently Asked Questions about the Global Smart Buildings (Nonresidential Buildings) Market

What is the estimated value of the Global Smart Buildings (Nonresidential Buildings) Market?

The Global Smart Buildings (Nonresidential Buildings) Market was estimated to be valued at $62.95 billion in 2023.

What is the growth rate of the Global Smart Buildings (Nonresidential Buildings) Market?

The growth rate of the Global Smart Buildings (Nonresidential Buildings) Market is 12.2%, with an estimated value of $99.76 billion by 2027.

What is the forecasted size of the Global Smart Buildings (Nonresidential Buildings) Market?

The Global Smart Buildings (Nonresidential Buildings) Market is estimated to be worth $99.76 billion by 2027.

Who are the key companies in the Global Smart Buildings (Nonresidential Buildings) Market?

Key companies in the Global Smart Buildings (Nonresidential Buildings) Market include PCl Construction, Skanska, Arabian Construction Company, Besix, Spire Realty Group, lendlease, Vinci, Bechtel, Balfourbeatty and Bouygues.

Table of Contents

1. Executive Summary

2. Smart Buildings (Nonresidential Buildings) Market Characteristics

3. Smart Buildings (Nonresidential Buildings) Market Trends And Strategies

4. Smart Buildings (Nonresidential Buildings) Market - Macro Economic Scenario
4.1 COVID-19 Impact On Smart Buildings (Nonresidential Buildings) Market
4.2 Ukraine-Russia War Impact On Smart Buildings (Nonresidential Buildings) Market
4.3 Impact Of High Inflation On Smart Buildings (Nonresidential Buildings) Market

5. Smart Buildings (Nonresidential Buildings) Market Size And Growth
5.1. Global Smart Buildings (Nonresidential Buildings) Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Smart Buildings (Nonresidential Buildings) Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Smart Buildings (Nonresidential Buildings) Market Segmentation
6.1. Global Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Intelligent Security System
  • Building Energy Management System
  • Infrastructure Management System
  • Network Management System
6.2. Global Smart Buildings (Nonresidential Buildings) Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Government
  • Airports
  • Hospitals
  • Institutes Manufacturing & Industrial facilities
  • Other Applications
6.3. Global Smart Buildings (Nonresidential Buildings) Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Institutional Buildings
  • Commercial Buildings
6.4. Global Smart Buildings (Nonresidential Buildings) Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • New Construction
  • Remodelling Projects
7. Smart Buildings (Nonresidential Buildings) Market Regional And Country Analysis
7.1. Global Smart Buildings (Nonresidential Buildings) Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Smart Buildings (Nonresidential Buildings) Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

8. Asia-Pacific Smart Buildings (Nonresidential Buildings) Market
8.1. Asia-Pacific Smart Buildings (Nonresidential Buildings) Market Overview
  • Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

9. China Smart Buildings (Nonresidential Buildings) Market
9.1. China Smart Buildings (Nonresidential Buildings) Market Overview
9.2. China Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

10. India Smart Buildings (Nonresidential Buildings) Market
10.1. India Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

11. Japan Smart Buildings (Nonresidential Buildings) Market
11.1. Japan Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

12. Australia Smart Buildings (Nonresidential Buildings) Market
12.1. Australia Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

13. Indonesia Smart Buildings (Nonresidential Buildings) Market
13.1. Indonesia Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

14. South Korea Smart Buildings (Nonresidential Buildings) Market
14.1. South Korea Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

15. Western Europe Smart Buildings (Nonresidential Buildings) Market
15.1. Western Europe Smart Buildings (Nonresidential Buildings) Market Overview
15.2. Western Europe Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

16. UK Smart Buildings (Nonresidential Buildings) Market
16.1. UK Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

17. Germany Smart Buildings (Nonresidential Buildings) Market
17.1. Germany Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

18. France Smart Buildings (Nonresidential Buildings) Market
18.1. France Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

19. Eastern Europe Smart Buildings (Nonresidential Buildings) Market
19.1. Eastern Europe Smart Buildings (Nonresidential Buildings) Market Overview
19.2. Eastern Europe Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

20. Russia Smart Buildings (Nonresidential Buildings) Market
20.1. Russia Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

21. North America Smart Buildings (Nonresidential Buildings) Market
21.1. North America Smart Buildings (Nonresidential Buildings) Market Overview
21.2. North America Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

22. USA Smart Buildings (Nonresidential Buildings) Market
22.1. USA Smart Buildings (Nonresidential Buildings) Market Overview
22.2. USA Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

23. South America Smart Buildings (Nonresidential Buildings) Market
23.1. South America Smart Buildings (Nonresidential Buildings) Market Overview
23.2. South America Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

24. Brazil Smart Buildings (Nonresidential Buildings) Market
24.1. Brazil Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

25. Middle East Smart Buildings (Nonresidential Buildings) Market
25.1. Middle East Smart Buildings (Nonresidential Buildings) Market Overview
25.2. Middle East Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

26. Africa Smart Buildings (Nonresidential Buildings) Market
26.1. Africa Smart Buildings (Nonresidential Buildings) Market Overview
26.2. Africa Smart Buildings (Nonresidential Buildings) Market, Segmentation By Automation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

27. Smart Buildings (Nonresidential Buildings) Market Competitive Landscape And Company Profiles
27.1. Smart Buildings (Nonresidential Buildings) Market Competitive Landscape
27.2. Smart Buildings (Nonresidential Buildings) Market Company Profiles
27.2.1. PCl Construction
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Skanska
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Arabian Construction Company
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Besix
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Spire Realty Group
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance

28. Key Mergers And Acquisitions In The Smart Buildings (Nonresidential Buildings) Market

29. Smart Buildings (Nonresidential Buildings) Market Future Outlook and Potential Analysis

30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Historic And Forecast Inflation Rates
30.4. Research Inquiries
30.5. About the Publisher
30.6. Copyright And Disclaimer

Executive Summary

Smart Buildings (Nonresidential Buildings) Global Market Report 2023 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on smart buildings (nonresidential buildings) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
  • Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Where is the largest and fastest growing market for smart buildings (nonresidential buildings)? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart buildings (nonresidential buildings) market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

Scope

Markets Covered

1) By Automation Type: Intelligent Security System; Building Energy Management System; Infrastructure Management System; Network Management System
2) By Application: Government; Airports; Hospitals; Institutes Manufacturing & Industrial facilities; Other Applications
3) By Product Type: Institutional Buildings; Commercial Buildings
4) By Type: New Constructions; Remodeling Projects

Companies Mentioned: PCl Construction; Skanska; Arabian Construction Company; Besix; Spire Realty Group

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery format: PDF, Word and Excel Data Dashboard.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • PCl Construction
  • Skanska
  • Arabian Construction Company
  • Besix
  • Spire Realty Group
  • lendlease
  • Vinci
  • Bechtel
  • Balfourbeatty
  • Bouygues
  • The Royal BAM Group
  • Laing O'Rourke
  • China State Construction Engineering
  • L&T Construction
  • turner construction company
  • Grupoacs
  • Hochtief
  • Bouygues Construction

Methodology

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