Reports and Insights freshly added a report titled “Smart Buildings Market: Opportunity Analysis and Future Assessment 2022-2030” in its database of market research reports which offers its readers a detailed and profound analysis on the fresh growth opportunities, trends and growth drivers that are closely linked with the growth of the market. The report further provides crucial insights on the COVID-19 impacts on the Smart Buildings Market along with the compound growth rate (CAGR) of the market for a forecasted period between 2022 and 2030. The report also comprises assessment of the market by employing various analytical tools, such as Porter’s five forces analysis and PESTEL analysis. These tools also offer an in-depth analysis on the micro and macro-environmental factors that are related to the growth of the market over the projected period.
The global smart buildings market in 2022 is estimated for more than US$ 55.7 Bn and expected to reach a value of US$ 141.7 Bn by 2030 with a significant CAGR of 12.4%.
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Smart Buildings Introduction
There is a prevailing trend of building automation in the present times, which allows for automated centralized control of a building’s HVAC (heating, ventilation and air conditioning), lighting, electrical, security systems, access control, and other correlated systems through a Building Automation System (BAS) or Building Management System (BMS). The idea of building automation is more commonly known as Smart Buildings. Any structure that comprises automated processes to systematically operate and control the building’s operations including lighting, ventilation, heating, air conditioning, security and other systems is known as smart buildings.
A smart building consists of microchips, sensors, and actuators, in order to accumulate data and administer it as per the business’ services and functions. This kind of smart infrastructure helps operators, owners, and facility managers to enhance asset performance and reliability, which cuts off energy use, upgrades how the capacity is used and reduces the environmental impact of buildings. Many decades ago, buildings just provided mankind the essentials which are shelter, safety, and temperature control and at the uniform efficiency level for years. However, modern buildings, or preceding structures that have been transformed to smart structures, are constantly connected to a network with adaptable and smart software.
Smart Buildings Market Dynamics
We spend most of our life living in these structures called buildings, be it our home, workplace or any other place. At the very beginning, buildings were just the structure made of sticks, stones, animal skins and other natural substances, which just used to fulfil basic needs of mankind including shelter and provide a safe and comfortable place to reside. Although, now that time has changed enormously, just fulfilling basic needs isn’t enough.
The building occupants and the entire community, in the modern-day world, are starting to look outside the four walls of their house and acknowledging the significance of their building on the electrical grid as well as on the whole global environment. Thereby, the idea of “Smart Buildings” arose which uses technology to accumulate data about the activities in the building between systems so as to advance the building’s performance. The accumulated data is then used to automate several different processes, ranging from lighting, heating and ventilation to air conditioning and security. The building owners are more encouraged in present times to look after the environment and surroundings as well as to reduce energy costs, which further promotes the idea of smart buildings in the global society.
Furthermore, several governments and regulatory authorities are also encouraging the idea of smart construction and infrastructure across the world along with imposing several laws and regulations to encourage current and future operations. Owing to which, the global smart buildings market is projected to grow expeditiously in the forthcoming years.
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Smart Buildings Market Segmentation
The global smart buildings market is segmented on the basis of types, building types, and end user.
By Types
 Building Automation Software
o Intelligent Security System
 Video Surveillance System
 Access Control System
 Emergency Management System
o Building Energy Management System
 Energy Management Platform
 HVAC Control System
 Lighting Control System
o Infrastructure Management System
 Parking Management System
 Smart Water Management System
 Elevators and Escalators Management System
o Network Management System
 Services
o Professional Services
 Consulting Services
 System Integration and Deployment Services
 Support and Maintenance Services
o Managed Services
By Building Types
 Manufacturing Facilities
 Residential Buildings
 Commercial Buildings
 University, School, & Hospital Buildings
 Government & Public Infrastructure Facilities
 Others
By Region
 North America
 Latin America
 Europe
 Asia Pacific
 Middle East
 Africa
Smart Buildings Market Key Players
Some of the key participating players in global smart buildings market are:
 ABB Group
 Siemens AG
 Schneider Electric
 Cisco Systems, Inc.
 IBM Corporation
 Delta Controls
 Johnson Controls
 Honeywell International Inc.
 United Technologies Corporation
 Legrand
 BuildingIQ
 And Others
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