What is IoT in Smart Building Market Scope?
These Smart Building Types are mostly based on commercial real estates (CRE), such as office buildings and warehouses, which can be optimized for both humans and robots with the Internet of Things ( IoT) technology for optimized networking, automation, and many workplace benefits. CRE owners understand the potential to realize substantially higher lease payments for intelligent houses, in addition to maximizing tenant operations. Therefore, at least one facet of IoT and/or associated Smart Building technology is involved in over 80 percent of new construction. Thus adapting a huge amount of market share in upcoming years.
Influencing Trend:
The Emergence Trend of 5G Technology and Rising Smart City Trend
Market Growth Drivers:
Rising Adoption of IoT-Enabled Building Management System, Rising Awareness With Regard to Space Utilization and Increased Industry Standards and Regulations
Challenges:
Lack of Technology Alignment and Skilled Professionals and Rising Privacy and Security Concerns Owing to IoT-Enabled Devices
Restraints:
Lack of Cooperation Among Standard Bodies
Opportunities:
Supporting technology such as Artificial Intelligence ( AI), Mobile Edge Computing, and 5 G networks would also support software and facilities connected to new and advanced smart building systems. The expected massive growth of IoT smart building systems also provides a major market opportunity for real-time IoT analytics and asset tracking systems, especially associated with smart workplace solutions.
The IoT in Smart Building market study is being classified by Type (Solution and Services), by Application and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies Analysts at AMA predicts that Players from Germany will contribute to the maximum growth of Global IoT in Smart Building market throughout the predicted period.
Honeywell (United States), Johnson Controls (Ireland), Cisco (United States), Hitachi (Japan), Siemens (Germany), IBM (United States), Schneider Electric(France), Intel (United States), Huawei(China), ABB(Switzerland), L&T Technology Services(India), 75F (United States), Telit (United Kingdom), Pointgrab (Israel) and LogicLadder (India) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Spacewell (Belgium), PTC(US), Avnet (United States), Softdel (United States) and Spaceti (Czech Republic).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global IoT in Smart Building market by Type, Application and Region.
On the basis of geography, the market of IoT in Smart Building 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).
Market Influencers and their Development Strategies
In August 2019, Cisco completed the acquisition of Sentryo, a provider of device visibility and security solutions for Industrial Control System (ICS) networks. This acquisition enables Cisco to offer control system s engineers deeper visibility into assets for optimizing, detecting anomalies, and securing their networks.to optimize, detect anomalies, and secure their networks.
In January 2019, Adesto Technologies Corporation demonstrated predictive energy analytics for smart buildings with the help of IBM’s Watson IoT platform. Through this partnership, Adesto is enabling smarter buildings by gaining insights through insights into energy management and other operational data through services running on the IBM Watson IoT platform.
Key Target Audience
IoT companies, Smart building companies, Broadband service providers, Telecom infrastructure suppliers, Communications component providers, Cloud services and datacenter companies, Smart grid and energy management companies and Local, State, and Federal government organizations
IoT in Smart Building Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in IoT in Smart Building Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in IoT in Smart Building industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.