Market Research Report
Global Smart Buildings Market: Analysis By Building Type (Residential, Commercial), By Application, By Region, By Country (2020 Edition): Market Insights, COVID-19 Impact, Competition and Forecast (2020-2025)
|Published by||Azoth Analytics||Product code||945431|
|Published||Content info||220 Pages
Delivery time: 2-3 business days
|Global Smart Buildings Market: Analysis By Building Type (Residential, Commercial), By Application, By Region, By Country (2020 Edition): Market Insights, COVID-19 Impact, Competition and Forecast (2020-2025)|
|Published: June 30, 2020||Content info: 220 Pages||
The Global Smart Buildings Market was valued at USD 43.8 billion in the year 2019. The smart building market is characterized by the presence of many large players. The market is mainly driven by the addition of modern technologies and customizations to attract end-users. Companies are concentrating largely on offering innovative products and solutions that can optimize energy consumption and serve a high degree of automation in buildings, which is propelling the market value. Additionally, technological advances have a crucial role to play at the design and construction phase for new buildings, as well as in retrofitting existing stock, which will propel the market growth.
Moreover, the demand for intelligent building is on an increase since the past few years due to constant increase in awareness about energy conservation throughout the world. The adoption of green building and ecofriendly infrastructure has led to the construction of smart and energy efficient buildings, which regulates the energy usage and effectively manages the energy consumption in building across all the sectors.
The automated systems in smart buildings allow facility managers to reduce energy expenses, create more comfortable environments and quickly address errors when they occur. The data generated by IoT sensors provide real-time information for quick reactions. They also register long-term trends that may be addressed through new technology or adapted business processes.
Americas region holds the major Smart Buildings market share of around 49.06% in 2019. The region has witnessed the emergence of latest smart building solutions that leverage new technologies, such as IoT, big data, cloud computing, data analytics, deep learning, and artificial intelligence.