Global Smart buildingsMarket is valued approximately USD 59.82billion in 2019 and is anticipated to grow with a healthy growth rate of more than 10.5% over the forecast period 2020-2027. Smart buildings contain a control system that controls building operations such as heating, lighting, ventilation, air conditioning and other systems by using censors and microchips. It provides advanced building technology such as temperature control, fire safety, automation, telecommunication etc.Smart buildings architecture also helps in lowering operational costs by tenant management as well as building performance management. Due to the rising need for energy efficiency, standards, and regulations of the industry and growth in the market for smart cities will drive the growth of the smart buildings market. It also helps saving energy consumption. Smart technologies, such as occupancy sensors, smart thermostats and lighting controls help reduce energy usage in unoccupied offices, conference rooms, and other spaces. Smart technologies can save an estimated 8-18 percent of overall energy usage in sub-sectors, including offices, small chains and independent retail stores, according to the American Council for an Energy-Efficient Economy (AMCEE).. However, high initial investment impedes the growth of the market over the forecast period of 2020-2027. Also, the introduction of 5G technologywill enhance new and powerful intelligent building capabilities contributing to the growth in smart buildings market.

The regional analysis of global Smart buildings market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World.North Americais the leading/significant region across the world in terms of market share owing to the growing projects on smart buildings and Internet Of Things(IoT). Whereas, Europe is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising government initiatives for smart cities developing project would create lucrative growth prospects for the Smart buildings market.

Major market player included in this report are:
Hitachi
Honeywell
Huawei
International Business Machines (IBM)
Igor
Intel
Johnson Controls
KMC Controls
Legrand
Schneider Electric

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By type:
Building Energy Management System
Physical Security System
Building Communication Systems
Plumbing And Water Management System
Parking Management Systems
Elevators And Escalators Management System
By Application:
Residential Buildings
Commercial Buildings
Hospitality
Airports
Institutional
Industrial
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year 2017, 2018
Base year 2019
Forecast period 2020 to 2027

Target Audience of the Global Smart buildings Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors