Smart Buildings (Nonresidential Buildings) Global Market Report 2022 - By Automation Type (Intelligent Security System, Building Energy Management System, Infrastructure Management System, Network Management System), By Application (Government, Airports, Hospitals, Institutes Manufacturing & Industrial facilities), By Product Type (Institutional Buildings, Commercial Buildings)- Market Size, Trends, And Global Forecast 2022 – 2026
What is the definition of the smart buildings (nonresidential buildings) market?
Smart buildings have automated processes and increase operational efficiency of a non-residential, commercial as well as industrial buildings. Smart buildings (nonresidential) involve the use of sensors, actuators, microchips to automatically control the processes of the building such as heating, ventilation, air conditioning, lighting, security and other systems.
How will the nonresidential smart buildings market drivers and restraints affect nonresidential smart buildings market dynamics? What forces will shape the nonresidential smart buildings industry going forward?
The nonresidential smart building market is driven by the increasing demand to automate tasks by using IoT (Internet of Things) devices. However, some nonresidential smart building market restraints include the risk of cyber-attacks causing operational damage.
What is the forecast market size of the smart buildings (nonresidential buildings) market?
The nonresidential smart buildings market forecast expects the market size to reach $69.45 billion in 2026 at a rate of 6.7%.
How is the nonresidential smart buildings segmented?
The global nonresidential smart buildings market is segmented -
1) By Automation Type: Intelligent Security System, Building Energy Management System, Infrastructure Management System, Network Management System 2) By Application: Government, Airports, Hospitals, Institutes Manufacturing & Industrial Facilities, Others 3) By Product Type: Institutional Buildings, Commercial Buildings
Which region has largest share, and what is the market size and growth by geography according to the smart buildings (nonresidential buildings) global market report?
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Who are the key players of the global nonresidential smart buildings market?
Top competitors in the smart buildings (nonresidential) market are Johnson Controls, ABB Ltd., Siemens AG, Honeywell International Inc., Hitachi, IBM, Schneider Electric, Hewlett-Packard, TYCO International, Siemens, Legrand SA.
What are the key trends in the global smart buildings (nonresidential) market?
Major trends influencing the smart buildings (nonresidential buildings) market includes the use of 5G technology, the upcoming cellular technology that reduces the time it takes for devices over wireless network to communicate with each other. 5G implementation in smart buildings will considerably enhance the usage of wireless edge devices providing rich multimedia experiences. 5G will also improve the security check applications for a commercial building. For smart hospital buildings, the use of 5G is estimated to improve the wayfinding that will enable smart wheelchairs and beds to move immobile patients.
What are the major opportunities in the nonresidential smart buildings market and the approaches companies can take to take advantage of them?
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How does the nonresidential smart buildings market relate to the overall economy and other similar markets?
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