Kenneth Research has evaluated the current market opportunities in Smart Building Market in the healthcare industry for the forecast period 2022-2031, which also includes the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players, along with the worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa, has also been provided in the report.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Smart Building Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Smart Building Market is estimated to reach $81.6 billion by 2025; growing at a CAGR of 34.7% from 2017 to 2025. A smart building is also known as automated building which integrate smart technology. Smart building denotes the build environments like offices, university campuses, schools, apartments, museums, malls, hospitals, and outside areas which are allowed for co-operation of smart objects & systems, and for ubiquitous communication with frequent & sporadic visitors. A smart building comprises real-time systems for handling the functioning of a building through a single interface. Smart buildings depend heavily on the usage of hardware & software which make the building function more efficiently and also increase its lifetime by tracing problems & warning residents of the same.
Major factors driving the global smart building market are rising need for integrated security & safety systems, growing government initiatives on smart building projects, and reducing operational cost. However, high initial investment may hamper the market growth. Furthermore, growing trend of smart cities would unfold with numerous growth opportunities in the forecasted year.
Major segments of the global smart building market are type, building type, and geography. The type segment comprises building automation software and services. Building type contains residential buildings, manufacturing facilities, commercial buildings, government & public infrastructure facilities, university, school, & hospital buildings, and other building types.
Geographically, the global smart building market is categorized into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consist of UK, Russia, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into China, Japan, India, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
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The major players competing in the market are General Electric, Honeywell International Inc., Hitachi, Ltd., Schneider Electric, Johnson Controls, Emerson Electric Co, Delta Controls, Cisco Systems, Inc., Hewlett Packard Enterprise, and Ingersoll-Rand plc, among others.
The key takeaways from the report
The report will provide detailed analysis of Global Smart Building Market with respect to major segments such as type and building type
The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Smart Building Market has been included in the report
Profile of the key players in the Global Smart Building Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Smart Building Market
Type Segments
Building Automation Software
Services
Building Type Segments
Residential Buildings
Manufacturing Facilities
Commercial Buildings
Government & Public Infrastructure Facilities
University, School, & Hospital Buildings
Other Building Types
Geographical Segments
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North America
U.S.
Canada
Mexico
Europe
UK
Russia
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
RoW
South America
Middle East
Africa
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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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