Global Smart Buildings Market 2020-2024
Technavio has been monitoring the smart buildings market and it is poised to grow by $ 19.17 bn during 2020-2024 progressing at a CAGR of 13% during the forecast period. Our reports on smart buildings market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the growing need for building automation to enhance business outcomes, stringent government regulations on energy consumption in buildings, and increasing demand to conserve energy. In addition, growing need for building automation to enhance business outcomes is anticipated to boost the growth of the market as well.
The smart buildings market analysis includes product segment and geographic landscapes.
Technavio's smart buildings market is segmented as below:
- Lighting control
- Security and access control
By Geographic Landscapes
- North America
- South America
This study identifies the increasing integration of IoT with building automation software as one of the prime reasons driving the smart buildings market growth during the next few years. Also, emergence of customized building automation software will lead to sizable demand in the market.
"Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our smart buildings market covers the following areas:
- Smart buildings market sizing
- Smart buildings market forecast
- Smart buildings market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading smart buildings market vendors that include ABB Ltd., Advantech Co. Ltd., Cisco Systems Inc., Honeywell International Inc., International Business Machines Corp., Johnson Controls International Plc, Larsen and Toubro Ltd., Raytheon Technologies Corp., Schneider Electric SE, and Siemens AG. Also, the smart buildings market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.