Smart Building Market – Global Opportunities & Forecast, 2020-2027

The smart building market report, published by GMI Research, provides extensive insight and analysis of the smart building market over the forecast period (2020-2027). The report primarily focuses on the key business financials, product portfolio, expansion strategies, and recent developments in the smart building market. The research report also studies the competitive environment of the smart building market based on the company profiles and their efforts on increasing product value and production.

Leading Players in the Smart Building Market

The notable players in the smart building market include Hitachi, Ltd., Intel Corporation, Huawei, Honeywell International Inc., Johnson Controls, IBM, Cisco, Schneider Electric, Siemens, and ABB, among others.

Key Drivers in the Smart Building Market

The increasing adoption of the Internet of Things (IoT) enabled building management system and the rising awareness of space utilization around the world are the key drivers contributing to the growth of the smart building market size. The increasing awareness about energy consumption and the expanding number of initiatives regarding environmental concerns will encourage the adoption of smart building systems to save energy, time, and money. For example, in 2017, the Public Service and Procurement Canada (PSPC) launched the Smart Building initiative aiming to the construction of 100 buildings across Canada. Several countries such as Dubai has launched the “Dubai Plan 2021”, focusing on converting the city into a “smart city” by using innovative technology, digital tools, and smart policies. The increasing development of smart cities will further energize the demand of the market.  

The emerging trend for eco-friendly and green building that offer numerous smart features will boost the demand for smart building market over the coming years. In addition to this, the rising security concerns followed by the technological enhancement and reliability offered by the intelligent security systems will further accelerate the demand of the smart building market during the forecast period.

Market Segmentation

Smart Building Market by Component:

  • Solutions
  • Services

Smart Building Market by Solutions:

  • Building Infrastructure Management (BIM)
    • Parking Management System
    • Smart Water Management System
    • Elevators and Escalators Management System
  • Security and Emergency Management
    • Access Control System
    • Video Surveillance System
    • Safety System
  • Energy Management
    • HVAC Control System
    • Lighting System
  • Network Management
  • Workforce Management

Smart Building Market by Services:

  • Consulting
  • Integration and Deployment
  • Support and Maintenance

Smart Building Market by Building Type:

  • Residential
  • Commercial
  • Office Buildings
  • Retail and Public Assembly Buildings
  • Hospital and Healthcare Facilities
  • Airports and Railway Stations
  • Others
  • Industrial

Smart Building Market by Region:

  • North America
    • United States of America
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting firm which provides bespoke industry & market research to help businesses in making the toughest business decision. We know the significance of accurate data; that’s why our analyst uses a tailored methodology to study every market in detail because one size doesn’t fit all. We not only cover the traditional well-established market but also focuses on the niche market and markets in the emerging economies, where getting data and information is a challenge. This factor makes us pioneer in emerging market research space. Our syndicate reports cover multiple industries across various regions and countries.

Our in-depth market reports help propel your business with all the data, strategic inputs, and competitive intelligence to move ahead even in the most uncertain times. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research look forward to help businesses stay ahead of the curve.


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Written by Sophia Jonson

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