What is Building Technologies Market?
The term 'building technology' refers to the technical processes and the methods that are used for the construction of buildings. This has indeed become a very increasingly important part of the construction industry nowadays, as the buildings have moved from being evolutionary in the standard types towards becoming one-off the prototypes, the building performances have requirements which have become more and more demanding, and the number of products and specialist suppliers have also increased. The building technology includes; the materials and their applications, their physical properties, dimensions, and susceptibilities; the operation of all the components and systems; the procedures, the principles, and the details regarding building assembly; the operating strategies and others. The building technology engineers plan, design and further construct the buildings. They are also involved in throughout the process from the start to finish; all of their jobs start with the process of testing the soil samples so as to determine as to what kind of foundation is required, and further also includes designing of the structure, assessing the costs that would be needed for the construction, and also for supervising the construction.
The market study is being classified by Type (Overall Plan, Exterior Design, Internal Structure Design and Other), by Application (Civil Engineering, Heating and Sanitation, Gas Engineering, Elevator and Fire and Water Supply and Drainage) and major geographies with country level break-up.
Honeywell (United States), Emerson Electric (United States), Itron (United States), Johnson Controls (Ireland), Schneider Electric (France), Siemens (Germany), GCL Building Technologies (United Kingdom), Bosch Sicherheitssysteme (United States), Carrier Global (United States) and Siemtecha (United States) are some of the key players profiled in the study.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Building Technologies market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Building Technologies market by Type, Application and Region.
On the basis of geography, the market of Building Technologies 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
- Upsurging Need for Safety and Security Systems
- Increasing Disposable Incomes
Market Trend
- Growing Government Initiatives for Smart Building Projects
- Adoption of Artificial Intelligence and IoT in Construction Automation
Restraints
- Comparatively Higher Initial Investment
- Lack of Awareness in Underdeveloped Regions
Opportunities
- Increasing Awareness about Environmental Concerns and Green Building Construction
- Increasing Demand for Smart City Development
Challenges
- Requires Skilled Workforce
- Limited Functionality and Lack of Identical Set of Standards
Key Target Audience
Broadband Service Providers, IoT Companies, Building Technology Providers, Telecom infrastructure suppliers, Communications Component Providers, Cloud services and datacenter companies, Local, State, and Federal Government Organizations and Others