Smart Buildings Market size to grow by USD 46,123.2 million from 2022 to 2027; The growing need for building automation to enhance business outcomes boosts market growth - Technavio
NEW YORK, Aug. 15, 2023 /PRNewswire/ -- The smart buildings market size is estimated to increase by USD 46,123.2 million from 2022 to 2027. The market's growth momentum will progress at a CAGR of 9.73% during the forecast period. Discover some insights on market size historic period (2017 to 2021) and Forecast (2023 to 2027) before buying the full report -Request a sample report
Smart buildings market – Vendor Analysis
What's New? -
Vendor Offerings -
Smart Buildings Market - Segmentation Assessment
For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a Sample Report
Smart Buildings Market – Market Dynamics
The growing need for building automation to enhance business outcomes is a key factor driving market growth. Building automation software has several advantages. For example, the software acts as a control system, for automatic adjustment and control of subsystems of the installation, maintaining predefined parameters for various building systems. Considering these advantages, building automation has become an integral part of businesses. The adoption of building automation software significantly improves cost savings for organizations by supporting efficient energy management. Hence, these factors are expected to drive market growth during the forecast period.
The growing concept of BIoT is a major trend in the market. The integration of all independent automated systems with extra features like cloud integration is known as a "smart building." The idea behind the Internet of Things is to make buildings intelligent so they can automatically respond to information and draw conclusions from it. The sensors and actuators are connected by the cloud architecture, allowing for information sharing and better working conditions. By adding more devices to the current infrastructure, this technology makes it possible to expand automated systems. Hence, the growing concept of BIoT is expected to drive market growth during the forecast period.
The high switching and installation cost is a significant challenge restricting market growth. Building automation solutions is becoming more expensive because of the market's many manufacturers creating more advanced features, better functions, compatible features, and creative technologies to enhance operational functionality. Furthermore, the efficient installation of these systems may necessitate several changes to a building's overall wiring. Due to the incredibly high cost of the solution, only major commercial businesses have been able to adopt smart solutions. Hence, the high switching and installation cost is expected to drive market growth during the forecast period.
What are the key data covered in this Smart Buildings Market report?
Gain instant access to 17,000+ market research reports.
The Poland prefabricated buildings market is estimated to grow at a CAGR of 5.34% between 2022 and 2027. The size of the market is forecast to increase by USD 496.66 million. Furthermore, this report extensively covers market segmentation by material (wood, concrete, steel, and others), type (permanent and relocatable), and application (residential, commercial, and industrial). The rising demand for prefabricated houses in Poland is notably driving market growth.
The zero-energy buildings market is expected to increase by USD 107.34 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 25.18%. Furthermore, this report extensively covers zero-energy buildings market segmentation by application (HVAC and controls, insulation and glazing, lighting and controls, and water heating), product (public and commercial buildings and residential buildings), and geography (North America, Europe, APAC, the Middle East and Africa, and South America). The growing use of sustainable energy is one of the key factors driving the growth of the global zero-energy buildings market.
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Solution
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
View original content to download multimedia:https://www.prnewswire.com/news-releases/smart-buildings-market-size-to-grow-by-usd-46-123-2-million-from-2022-to-2027-the-growing-need-for-building-automation-to-enhance-business-outcomes-boosts-market-growth---technavio-301899913.html
Generative AI Expo #TECHSUPERSHOW Expo Hall Grand Opening
Registration Counters Open
Day 1 Internet Access for Retail IoT Solutions