Smart Building Market Expected to Reach USD 109.35 Billion by 2026: Verified Market Research
The market report is a good combination of qualitative and quantitative data that highlights significant market changes, obstacles that business and the competition must overcome, as well as new possibilities and trends in the Smart Building Market.
JERSEY CITY, N.J., March 15, 2023 /PRNewswire/ -- The global Smart Building Market is projected to grow at a CAGR of 10.2% from 2019 to 2026, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 50.12 Billion in 2018 and is expected to reach USD 109.35 Billion by the end of the forecast period.
Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample?rid=35989
Browse in-depth TOC on "Smart Building Market"
202 - Pages
Smart Building Market on the Rise due to Increased Energy Efficiency and Space Utilization
The global Smart Building market is witnessing significant growth due to the increasing use of smart technology that has significantly improved the quality of human life. A smart building is a structure that uses integrated building technology systems and automated procedures to govern the building's many systems, including lighting, ventilation, heating, and air conditioning. The use of smart building technology enhances building operations while lowering energy expenses.
The market is primarily driven by smart buildings since they increase a building's operational energy efficiency, which further leads to optimal energy use and building sustainability. The concept of a smart building is exploding to have a healthy and safe feeling with the growing trend of busy lifestyles among the population. Better space usage options are provided by smart buildings, and increased attention to space utilization has boosted demand for these structures.
Some of the key players operating in the Smart Building market include Honeywell, Schneider Electric, Huawei, ABB, Siemens, Hitachi, Larsen & Toubro Technology Services, and Logicladder. These players are focusing on market analysis, financial statements, product benchmarking and SWOT analysis, key development strategies, and market share to stay ahead in the competition.
Furthermore, the Smart Building market size is expected to increase significantly due to the increasing demand for efficient building operations. The market is expected to witness a substantial growth rate during the forecast period. The market size is also expected to be influenced by the implementation of various government initiatives and policies aimed at enhancing building sustainability.
In conclusion, the Smart Building market is witnessing significant growth due to the increasing use of smart technology and the growing trend of busy lifestyles. The market sze is expected to increase, and the key players in the market are focused on market analysis, financial statements, product benchmarking and SWOT analysis, key development strategies, and market share to stay ahead in the competition.
Based on the research, Verified Market Research® has segmented the global Smart Building Market into Component, Building Type, And Geography.
Browse Related Reports:
Green Technology And Sustainability Market By Technology (Internet of Things (IoT), Artificial Intelligence (AI) and Analytics, Digital Twin, Cloud Computing), By Application (Carbon Footprint Management, Green Building, Water Purification, Water Leak Detection), By Geography, And Forecast
Building Management System Market By Service Type (Professional Services, Managed Services), By Software (Security Management, Facility Management), By Application (Commercial, Industrial), By Geography, And Forecast
Energy Harvesting System Market By Technology (Vibration Energy Harvesting, Thermal Energy Harvesting), By Application (Building & Home Automation, Consumer Electronics, Industrial), By Geography, And Forecast
Smart Commercial Building Automation Market By Product (Wired Technologies, Wireless Technologies), By Application (Hospitals And Healthcare Facilities, Airports, Railway, Office Buildings, Retail And Public Assembly Buildings), By Geography, And Forecast
Top 5 Building Management System Companies discovering and delivering innovative solutions
Visualize Smart Building Market using Verified Market Intelligence -:
Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.
VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.
Verified Market Research® is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research® provides advanced analytical research solutions while offering information-enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.
We study 14+ categories from Semiconductors & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & Construction, Agriculture industry and Medical Devices from over 100 countries.
Mr. Edwyne Fernandes
View original content:https://www.prnewswire.co.uk/news-releases/smart-building-market-expected-to-reach-usd-109-35-billion-by-2026-verified-market-research-301772597.html