What is Digital Buildings Market?
Digital Buildings include a set of solutions that optimizes the experience of occupants, staff, and management through the integration of architecture, engineering, and technology. This type of building harnesses Internet of Things (IoT) data and leverages Power over Ethernet (PoE) technology to create an expansive network that can save power and share data between various building systems. It helps to manage light, physical security, and air quality, into a single IP network, companies with a digital building can increase energy efficiency, human resource productivity, and improve the overall experience for company employees.
The market study is being classified by Type (Hardware and Software), by Application (Residential and Commercial) and major geographies with country level break-up.
Siemens (Germany), Softdel (United States), Cisco (United States), Honeywell International Inc. (United States), Johnson Controls. (Ireland), United Technologies Inc. (United States), Schneider Electric Infrastructure Ltd. (France), Bosch GmbH (Germany), Emerson Electric Co. (United States), Huawei Technologies Co., Ltd. (China) and IBM (United States) are some of the key players profiled in the study.
Global Digital Buildings Market fragmented with the presence of numerous players. Companies offering Digital Enablement Platform to redefine the building service architecture. Many players use technologies like the Internet of Things (IoT), Cloud Computing, etc. to enhanced building systems and provide well-architected infrastructure. Companies are also participating in strategic activities like mergers and acquisitions to enhance their market presence.
Segment Analysis
Analyst at AMA have segmented the market study of Global Digital Buildings market by Type, Application and Region.
On the basis of geography, the market of Digital Buildings has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Demand for Digital Transformation
- Growing Need for Resource Efficiency and Workforce Productivity
Market Trend
- Increasing Adoption of IoT platforms and Cloud Technology in Business
Restraints
- Difficulties Associated With the Privacy Related Risks Emerging With the IoT Devices
Opportunities
- Rising Popularity of Automation in the Developing Countries creating opportunities for Digital Buildings Market
Challenges
- High Cost and Time Consumption Related Issues with The Setup And Configuration of Devices May Hindering Digital Buildings Market
- Stiff competition in Digital Buildings Market
Market Leaders and some development strategies
On December 13, 2021, Honeywell announced it has agreed to acquire privately-held US Digital Designs, Inc., a Tempe, Ariz.-based company, for a purchase multiple of ~14X EBITDA in an all-cash transaction. The company delivers alerting and dispatch communications solutions, which enhance first responders' efficacy and enable faster emergency response times.
Key Target Audience
Digital Buildings Service Providers, Digital Buildings Tools Developer, Research and Development Institutes, Digital Buildings Potential Investors, Industry Associations, Regulatory Bodies and Others