Published Date: 12-May-22
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According to a new report, published by KBV research, The Global Smart Buildings Market size is expected to reach $131.5 billion by 2027, rising at a market growth of 10.6% CAGR during the forecast period.
The Commercial segment acquired the maximum revenue share in the Global Smart Buildings Market by Buildings Type in 2020; thereby, achieving a market value of $75.8 billion by 2027. Investors such as builders and operators of commercial real estate (CRE) are increasingly focusing on intelligent building to minimize operational costs, the commercial segment is likely to dominate the segment share. Governments across the world are investigating the CRE to spend heavily in and enhance energy-saving construction techniques.
The Services segment is showcasing a CAGR of 11.5% during (2021 - 2027). Smart building service providers assist in the implementation of intelligent automation and technology for the cost-effective maintenance and operation of buildings. The requirement for an optimum solution, resulting in increased performance of the building, reduced energy, and lower OPEX, is one of the advantages of using smart building services.
The North America market dominated the Global Smart Buildings Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $47.3 billion by 2027. The Europe market is estimated to witness a CAGR of 10.1% during (2021 - 2027). Additionally, The Asia Pacific market would exhibit a CAGR of 11.4% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/smart-buildings-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Cisco Systems, Inc., IBM Corporation, Honeywell International, Inc., ABB Group, Siemens AG, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Intel Corporation, Hitachi, Ltd., Johnson Controls International PLC, and PTC, Inc.
By Buildings Type
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