Global Smart Buildings (Nonresidential Buildings) Market Outlook, Opportunities And Strategies
Learn about the global non-residential smart buildings market through The Business Research Company, which provides information on nonresidential smart buildings market size, non-residential smart buildings market drivers and restraints, non-residential smart buildings market players, the COVID-19 impact on the non-residential smart buildings market, and more.
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The global nonresidential smart buildings market size is expected to grow from $49.54 billion in 2021 to $53.50 billion in 2022 at a compound annual growth rate (CAGR) of 8.0%. The growth in the smart buildings market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The smart buildings (nonresidential) market is expected to reach $69.45 billion in 2026 at a CAGR of 6.7%.
The increasing demand to automate tasks by using IoT (Internet of Things) devices is expected to drive innovation in nonresidential smart buildings manufacturing, thus driving the market during the forecast period.
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The nonresidential smart buildings market consists of sales of nonresidential smart buildings and related services. Smart buildings have automated processes and increase operational efficiency of a non-residential, commercial as well as industrial buildings. Smart buildings (nonresidential) involve the use of sensors, actuators, microchips to automatically control the processes of the building such as heating, ventilation, air conditioning, lighting, security and other systems.
Global Smart Buildings (Nonresidential) Market Segments Include:
By Automation Type: Intelligent Security System, Building Energy Management System, Infrastructure Management System, Network Management System
By Application: Government, Airports, Hospitals, Institutes Manufacturing & Industrial Facilities, Others
By Product Type: Institutional Buildings, Commercial Buildings
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the smart buildings (nonresidential) market in 2021.
The use of 5G technology is the latest trend in the smart building market. 5G technology is the upcoming cellular technology that reduces the time it takes for devices over wireless network to communicate with each other. 5G implementation in smart buildings will considerably enhance the usage of wireless edge devices providing rich multimedia experiences. 5G will also improve the security check applications for a commercial building. For smart hospital buildings, the use of 5G is estimated to improve the wayfinding that will enable smart wheelchairs and beds to move immobile patients.
TBRC’s nonresidential smart buildings market report covers:
Major Market Players: Johnson Controls, ABB Ltd., Siemens AG, Honeywell International Inc., Hitachi, IBM, Schneider Electric, Hewlett-Packard, TYCO International, Siemens, Legrand SA.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
The Smart Buildings (Nonresidential Buildings) Global Market Report 2021: Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides nonresidential smart buildings market overviews, analyses and forecasts market size, share, nonresidential smart buildings market players, nonresidential smart buildings market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s smart buildings (nonresidential) market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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