Global Food and Beverage E-commerce Market

Convenience, Mom And Pop Stores Market Definition

The convenience, mom and pop stores market consists of sales of goods and some services through convenience, mom and pop stores by entities (usually sole traders or partnerships but in some cases organizations) that provide the retail service of supplying food, toiletries and other daily necessities to their consumers through conveniently located small stores. Convenience, mom and pop stores are neighborhood retail outlets, in the case of this report, it refers only to those which sell a limited range of food and groceries such as prepared and ready-to-eat foods, bottled and fountain beverages, household staples, basic toiletries, tobacco products, periodicals and other essential items.?These types of stores are mostly smaller in size, generally around 300 square meters, have limited employees and are open for extended hours. Convenience, mom and pop stores can be a family owned business or a retail chain business.

The fashion e-commerce market consists of sales of fashion goods and its related services through online channels. Fashion goods include fashion accessories, clothes, shoes, bags, jewelry, cosmetics, and other luxury goods. The fashion e-commerce market comprises of revenue generated by the establishments using several online platforms and tools for trading fashion products. The global fashion e-commerce market is expected grow from $549.55 billion in 2020 to $668.1 billion in 2021 at a compound annual growth rate (CAGR) of 21.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1207.23 billion in 2025 at a CAGR of 16%. The fashion e-commerce market covered in this report is segmented by product into apparel/clothing; accessories; footwear; cosmetics; others and by end user into men; women; children. Increasing use of internet and smartphones is expected to contribute to the expansion of the fashion e-commerce industry. According to the Digital 2019 Global Overview Report, the total number of phone users including smart and feature phones reached 4.78 billion, which was 61.51% of world’s population in 2019. There were 3.5 billion smart phone users in 2019.This has also led to an increase in the number of online shoppers. This scenario is anticipated to boost the demand for fashion and other e-commerce markets, generating higher revenue for the online fashion industry over the coming years. Rules concerning website content and safety of consumer information are predicted to limit the growth of the market. The rules and regulations for companies about the content of the website make it difficult for players to manage their business. A major concern is to mandate the use of local languages on their website, as in countries with more than one local official language, it results in a higher cost for the companies dealing with online retailing. This scenario is projected to act as a restraint for the fashion e-commerce market. Weakening brand trust and loyalty, and high return rates are other major concerns for the growth of the fashion e-commerce market. The decline in brand loyalty can be due to several factors including product quality, a lack of selection options, or better prices elsewhere. This, in turn, is a reason for the high return rates. Technological innovations are a leading trend in the fashion e-commerce industry. The companies dealing in the market are adopting new technologies such as artificial intelligence (AI), barcode scanners, virtual reality outfits, and e-commerce automation tools that offer highly personalized and relevant consumer experience. Moreover, many fashion companies are launching new apps to sell their products online in order to reach a large consumer base. For instance, in June 2019, Amazon launched an AI-powered tool named StyleSnap, which uses machine learning to find similar styles and clothes. StyleSnap is an app wherein people can take a picture, upload, and search for similar clothes available on Amazon.com. In 2019, Aditya Birla Fashion and Retail Limited acquires Jaypore for a sum of Rs. 110 crore. The acquisition was aimed to help Aditya Birla to enter into the market of online e-commerce business of ethnic wear. Jaypore is an operator of an online retail platform based in New Delhi, India and San Francisco and sells home decor, accessories, jewelry online. The major players covered in the global fashion e-commerce market are Amazon, Flipkart, Alibaba, Snapdeal, ebay, Myntra, ShoClues, AliExpress, HomeShop18, Jabong, SHEIN, Koovs, Flo Mattress, Yebhi, Biba, Nykaa, Decathlon, Pepperfry, Naaptol, Shopclues.com, ShoppersStop, Shopping.indiatimes, Shopping.rediff, StalBuyLove.com, Styletag, Stylista, Yebhi. The countries covered in the global fashion e-commerce market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global fashion e-commerce market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global fashion e-commerce market is segmented - 1) By Product: Apparel/Clothing, Accessories, Footwear, Cosmetics, Others 2) By End User: Men, Women, Children 3) By Model Type: Business to Business (B2B), Business to Consumer (B2C)

The direct selling establishments market consists of sales goods and services by entities (organizations, sole traders, and partnerships) that are engaged in non-store retailing of merchandise except e-commerce, mail-order, and vending machine sales. The entities operating in this industry go to the customer’s location rather than the customer coming to them, such as door to door sales. This includes home delivery of the newspaper, home delivery of heating oil, liquefied petroleum (LP) gas, and other fuels, locker meat provisions, frozen food and freezer meal plan providers, coffee-break supplies providers, and bottled water or water softener services. Only goods and services traded between entities or sold to end consumers are included. The global direct selling establishments market is expected to grow from $168.33 billion in 2020 to $184.64 billion in 2021 at a compound annual growth rate (CAGR) of 9.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $237.63 billion in 2025 at a CAGR of 6.5%. The direct selling establishments market covered in this report is segmented by type into single-level marketing; multi-level marketing. The need for additional income opportunities in developing and underdeveloped countries has been a driving factor in the direct selling establishments market. According to The Associated Chambers of Commerce and Industry of India (Assocham), the direct selling industry is expected to reach $2169 million by 2021 in India. Direct selling could be a viable income source, even if someone wants to do it part-time. Direct selling in long term promotes self-employment and financial independence. ASSOCHAM paper also reveals the average sale of each participant in India is about $300 per year. The need for additional income opportunities expected to drive the direct selling establishments market during the forecast period. Increased demand for online shopping restrains the market for direct selling establishments. E-commerce platforms offers more discounts on products compared to direct selling encouraging consumers to switch from direct selling establishments to online shopping portals. Direct selling platforms are now changing the business model so that they can survive in the market. For instance, in India, direct selling platforms such as Amway, Oriflame, and Tupperware started selling products through e-commerce portals such as Flipkart, Snapdeal, eBay, and Amazon which is a disruption in the direct-sales business model. Few companies such as Hindustan Unilever has closed its direct-to-home model, HUL Network, and re-launched its Aviance beauty products and Ayush remedies on Amazon. According to an annual survey report 2016-17, by India Direct Selling Association (IDSA), direct selling products are being sold on e-commerce websites like Flipkart, Amazon, SnapDeal, and Shopclues, at much higher discounts compared to what direct sellers used to sell to the consumers, and this is reducing the revenue of most of the direct selling organization. Artificial Intelligence (AI) in a direct selling business is an emerging trend shaping the direct selling establishments market. AI in direct selling business is used to collect and analyze data about the customer, delivers highly intelligent automated customer service, and also helps to predict the re-stocking volume for product inventories. For example, AI helps in personalized email marketing which is helpful for product recommendations and drip campaigns using the past behavioral data of the user. Chatbots are available at all hours and help in generating new leads and assisting customer service. For instance, Ventaforce is an AI-powered direct selling software that simplifies product categorization, lowers the risk of downtimes or failures, and increases savings from operations. In January 2020, Natura & Co, a Brazilian personal care cosmetics company acquired Avon Products, Inc. for an undisclosed amount. The acquisition has created the world's fourth-largest pure-play beauty company. The acquisition will strengthen Natura’s position in more than 100 countries. The group will also have a good position in retail with 3000 stores and an expanded digital presence. Avon was a British multi-level marketing company in beauty, household, and personal care categories. The major players covered in the global direct selling establishments market are Herbalife, Amway, Mary Kay Inc., Infinitus, Tupperware, Vorwerk, Natura, JoyMain, DXN, Belcorp, Quanjian, Oriflame, Nu Skin, Jeunesse, Primerica, Quanjian. The countries covered in the global direct selling establishments market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global direct selling establishments market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global direct selling establishments market is segmented - 1) By Type: Single-Level Marketing, Multi-Level Marketing 2) By Products: Wellness, Services, Home and Family Care, Personal Care, Clothing & Accessories, Leisure & Educational, Others

The vending machine operators market consists of sales goods and services by entities that are engaged in retailing merchandise through vending machines. The products that are sold through vending machines include soft drinks, candy and snacks, hot beverages, hot and cold meals, ice cream, salty snacks, cookies, cakes, nutritious bars, and others. The global vending machine operators market is expected to grow from $19.47 billion in 2020 to $20.8 billion in 2021 at a compound annual growth rate (CAGR) of 6.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $24.1 billion in 2025 at a CAGR of 3.8%. The vending machine operators market covered in this report is segmented by machine type into beverages vending machine, food products vending machine, confectionery products vending machine, others products vending machine, by-product into soft drinks, candy and snacks, hot beverages, hot and cold meal products, ice cream, others, by use case into corporate offices, shopping malls, and retail stores, educational institutions, hotels and restaurants, others. Growing demand for on-the-go snacks, drinks, and others is expected to drive the vending machine operators market. Vending machines offer the comfort of buying things on-the-go without the need to enter or stand in the queue of stores. For instance, as per Japan Times, there are 5 million vending machines in Japan. In addition to this, according to Vending Market Watch, there are more than 4.6 million vending machines in the USA, as most people are busy and find it easy to pick things on-the-go without wasting time buying things. This advantage of buying things on-the-go aids in the growth of the market. The growing focusing of players on introducing innovations is a leading trend in the vending machine operators market. Companies are focusing on using the latest technology like cashless payment, IoT, AI, Big data for enhancing sales, convenience, and to procure data to find customer preferences to increase productivity and customer satisfaction. For instance, over 2,000 Coca-Cola machines now accept Bitcoin in Australia and New Zealand. Coca Cola started experimenting with artificial intelligence and big data to build smart vending machines that need less human control. The beverage supergiant employed Hivery, a technology-driven company that works with businesses to refine their retail strategies using AI and Big Data, to revolutionize the way it marketed and distributed its goods in more than 200 countries. Starting with 60-odd vending machines in Newcastle, a town 160 km away from Sydney, the software company began experimenting with AI to see if it could stack vending machines better than humans could to maximize revenue and profits. The company developed an AI algorithm specifically for Coca Cola, which resulted in an 18% reduction in re-stock visits, plus a 15% rise in revenue, demonstrating that big data really can make a difference when it comes to vending machine optimization. In December 2019, Etika Group, a Malaysia-based subsidiary of Asahi Group, prominent drinks distributor acquired Advend Systems Pte Ltd for an amount of $50 million. Through the acquisition of Advend Systems Pte Ltd, the Etika group plans to offer more options to its consumers. Moreover, this acquisition includes Advend Systems Pte Ltd.’s full vending business across Singapore and Malaysia, operating under the name of Atlas vending. Advend Systems Pte Ltd, a Singapore based operator and refurbisher of vending machines and systems solution provider for the vending industry. The major players covered in the global vending machine operators market are AB Volvo, Caterpillar Inc., Komatsu Ltd., Liebherr Group, Hitachi Construction Machinery Co. Ltd., J.C. Bamford Excavators Ltd., Terex Corporation, The Atlas Copco Group, Deere & Company, Sany Group, Wacker Neuson, CNH Industrial NV. The countries covered in the global vending machine operators market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global vending machine operators market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global vending machine operators market is segmented - 1) By Machine Type: Beverages Vending Machine, Food Products Vending Machine, Confectionery Products Vending Machine, Others Products Vending Machine 2) By Product: Soft Drinks, Candy And Snacks, Hot Beverages, Hot And Cold Meal Products, Ice Cream, Others 3) By Use Case: Corporate Offices, Shopping Malls And Retail Stores, Educational Institutions, Hotels And Restaurants, Others

The business-to-business electronic market consists of sales of services of business-to-business electronic markets by entities (organizations, sole traders, and partnerships) that provide services in bringing together buyers and sellers of goods using the Internet or other electronic means and generally receiving a commission or fee for the service. Business-to-business electronic markets for durable and nondurable goods are included in this industry. The global business to business electronic markets market is expected to grow from $9.77 billion in 2020 to $10.34 billion in 2021 at a compound annual growth rate (CAGR) of 5.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $12.45 billion in 2025 at a CAGR of 4.8%. The business-to-business electronic market covered in this report is segmented by deployment type into supplier-oriented, buyer-oriented, intermediary-oriented, by application into home and kitchen, consumer electronics, healthcare, clothing, beauty and personal care, sports apparels, automotive, others. The surge in the inclination of companies towards electronic or e-commerce platforms to mark their online presence is expected to contribute to the growth of the business-to-business electronic. Business to business electronic markets help companies to reach a large consumer base, reduce cost, and improve efficiency by automating manual processes. B2B electronic markets increase opportunities for manufacturers to collaborate with suppliers and distributors. For instance, in October 2020, The Dentists Supply Co. and Henry Schein Inc., a USA-based dental products distributor together relaunched TDSC.com as a healthcare supply source for members of all 50 state dental associations. Increasing cyberattacks on business to business e-commerce websites are expected to hinder the business-to-business electronic market’s growth in the coming years. Cyber-attacks harm the company's reputation along with financial loss. In November 2019, the B2B e-commerce giant Alibaba had 2.2 billion cyberattacks in a single day. The cyberattack decreases the trust of customers and sellers and those who opt-out for their services and the business are also bound to pay a ransom in the form of money, e-currency, and data. This setback act as a major restraint for the growth of the market. Manufacturers are establishing their B2B marketplaces for selling their products online and fulfilling the customer requirements for niche products, which is likely to be a key trend in the business-to-business electronic. For instance, in February 2020, Reliance steel has launched a B2B marketplace fast metals for the supply of metal products. In January 2019, Honeywell, a manufacturer of parts for airplanes and helicopters had launched a B2B marketplace for selling aerospace parts. In May 2019, Shopify Inc., a Canada-based e-commerce company has acquired Handshake for $100 million. Through this acquisition, Shopify Inc. expands its B2B e-commerce platforms. Moreover, Handshake added new products and services to Shopify Inc.’s existing portfolio. Handshake is a USA-based B2B e-commerce company that provides a platform for the manufacturers and distributors close to its customers. The major players covered in the global business-to-business electronic market are Amazon, Alibaba, Rakuten, Flipkart.com, IndiaMART InterMESH Ltd, eBay Inc. The countries covered in the global business-to-business electronic market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global B2B electronic market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global business-to-business electronic market is segmented - 1) By Deployment Type: Supplier-Oriented, Buyer-Oriented, Intermediary-Oriented 2) By Application: Home And Kitchen, Consumer Electronics, Healthcare, Clothing, Beauty And Personal Care, Sports Apparels, Automotive, Others 3) By End Users: Network as a Service (NaaS), Data as a Service (DaaS), Storage as a Service (STaaS), Back-end as a Service (BaaS)

The Pharmacies and drug stores market consist of establishments involved in sales of prescription and over-the-counter medications, health and beauty items, toiletries and consumable goods directly to consumers. Industry companies may also provide basic health and photo processing services. The pharmacies and drug stores consist of establishments that are concerned with branded prescription drugs, generic drugs, non-prescription medicines, and personal health supplies, groceries and food items, vitamins, minerals, and dietary supplements, cosmetics and other. The global pharmacies and drug stores market is expected to grow from $971.51 billion in 2020 to $1038.6 billion in 2021 at a compound annual growth rate (CAGR) of 6.9%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $1299.8 billion in 2025 at a CAGR of 6%. The pharmacies and drug stores market covered in this report are segmented by drug type: prescription drugs, OTC drugs by type: community pharmacy, hospital pharmacy, clinical pharmacy, industrial pharmacy, compounding pharmacy, consulting pharmacy, ambulatory care pharmacy, regulatory pharmacy, home care pharmacy. The growing aging population and increasing health consciousness among the global populace are likely to drive the pharmacies and drug stores market. The geriatric population is more vulnerable to acquire a number of diseases that increase the dependence on the pharmacies and drug stores indirectly affecting the market. According to the Global Health and Aging report, the number of people aged 65 or older is projected to grow from an estimated 524 million in 2010 to nearly 1.5 billion in 2050, with most of the increase in developing countries. There are certain health conditions that are expected to be a challenge to our health care system with the increasing aging population. These conditions include cancer, dementia, and an increase in the number of falls, obesity, and diabetes. Due to the increasing aging population, the number of cases is expected to increase, thus providing a growing customer base for pharmacies and drug stores. Rapidly increasing cost pressures from regulatory agencies and payers will restrain the pharmacies and drug stores market. Government budgetary pressures are leading to lower pharmacy compensation for most countries with public health care. The consolidation of pharmacy benefit management firms in the U.S. has worked similarly, driving lower costs and margins and shifting prescription volumes to delivery of direct or mail order. Governments would be the largest health-care payer in virtually every country. This, in turn, creates increased pressure on taxpayers and government spending, with consequent pharmaceutical effects. These factors are expected to have a negative impact on the pharmacies and drug stores market as increasing cost pressures from regulatory agencies and affecting the market’s growth. Working long hours and drive-through locations are the major factors to increase the Pharmacies and Drugstores market growth. As competition has increased from mass merchandisers and supermarkets, as well as from direct mail prescription services, drug stores have been adding value in the form of 24-hour operations and drive-through pharmacies. The US Pharmacy Study measures customer satisfaction with their pharmacy experience across major chain drug stores, mass merchandisers, supermarkets, and mail-order pharmacies. The study shows that retail pharmacy businesses continue to shine when it comes to engaging patient-centric services that drive satisfaction. These convenience factors anticipate the growth of pharmacies and the drugstore market. On November 28, 2018, CVS Health completed acquisition of Aetna. By combining Aetna’s health care benefits expertise with its retail pharmacies, clinics, and integrated pharmacy capabilities, CVS Health is looking to improve the health care delivery experience for consumers by expanding offerings at Minute Clinics, offering preventative health screenings and delivering other services. The major players covered in the global pharmacies and drug stores market are Walgreens Boots (WBA), CVS Health (CVS), Rite Aid (RAD), MedPlus, Rexall, Shoppers Drug Mart, Grupo Casa Saba, China Nepstar, AS Watson, Matsumotokiyoshi, Phoenix, Celesio, Alliance Boots, Omnicare Inc, Diplomat Pharmacy Inc, PharMerica Corporation, Dougherty''s Pharmacy Inc, Progressive Care Inc, Medzone, Medicap, Apollo Pharmacy, Discount Drug Stores. The countries covered in the global pharmacies and drug stores market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global pharmacies and drug stores market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global pharmacies and drug stores market is segmented - 1) By Drug Type: Prescription Drugs, OTC drugs 2) By Type: Community Pharmacy, Hospital Pharmacy, Clinical Pharmacy, Industrial Pharmacy, Compounding Pharmacy, Consulting Pharmacy, Ambulatory Care Pharmacy, Regulatory Pharmacy, Home Care Pharmacy 3) By Product Type: Skin Care, Cold and Flu, Dental, Weight Loss, Vitamins, Others

The e-commerce market consists of sales of merchandise such as apparel, electronics, furniture, books, cosmetics, and other products through online channels. This industry includes e-commerce and m-commerce companies that offer home delivery services. The sales transaction between the retailers and their customers through the use of information technology including telephone and internet and delivery of merchandise is typically done through mail or couriers. The e-commerce industry also includes direct mailers who are selling their merchandise and retailing through online websites. The global e-commerce market is expected to grow from $2080.13 billion in 2020 to $2435.66 billion in 2021 at a compound annual growth rate (CAGR) of 17.1%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $4072.09 billion in 2025 at a CAGR of 14%. The e-commerce market covered in this report is segmented by application into home appliances; clothing and footwear; books; cosmetics; baby goods; groceries; others. Rising internet penetration and the growing use of smartphones are predicted to contribute to the growth of the e-commerce market. The growing usage of the internet and smartphones is shifting consumer preferences towards online shopping. According to We Are Social’s special report on Digital 2020 published in January 2020, the total internet users across the globe in 2020 increased to 4.54 billion with a growth of 298 million or 7% in comparison with January 2019. Moreover, the number of mobile users was 5.19 billion in 2020, increased by 124 million or 2.4% in 2019. Therefore, increasing internet penetration coupled with the growing number of people using smartphones is projected to boost the demand for e-commerce market over the forecast period. Stringent regulations and vertical restraints imposed on the e-commerce sector are expected to limit the growth of the e-commerce industry in the near future. The vertical restraints such as across platforms parity agreements (APPA), geo-blocking, most favoured nation (MFN), geo-filtering, and advertising restrictions is to act as a major challenge for e-commerce players. For instance, according to the SSC Online Blog on the vertical restraints in the Indian E-commerce Sector published in August 2019, stated that the CCI has the power to examine any contract relating to the e-commerce sector that leads to “Appreciable Adverse Effect on Competition” (AAEC) provided under Section 3 in India. Therefore, the stringent regulation imposed on functioning and advertising makes it difficult for e-commerce players to manage its operations, thus, adversely impact the growth of the e-commerce industry over the forthcoming years. Increasing government and companies’ initiatives to promote e-commerce sales is a leading trend in the e-commerce market. According to Entracker’ s news published in August 2019, the Union Ministry of India announced the government plan to launch an e-commerce portal names Bharat Craft in India on lines of Alibaba, an e-commerce platform in China. This app is expected to provide a platform for MSMEs to market and sell their product, which is projected to boost the sector growth in the country. In December 2019, Safilo Group S.p.A., Italian company engaging in designing, producing, and distribution of frames, sports eyewear, sunglasses, ski goggles and helmets, and related products, announced the acquisition of 70% stake in Blenders Eyewear LLC, a digitally native retailer for an undisclosed amount. This acquisition is aimed towards accelerating e-commerce and omnichannel strategy and expand the global presence of Safilo Group S.p.A. Blenders Eyewear LLC is a California based company engaged in providing a high-quality lifestyle and active eyewear through e-commerce platforms at affordable prices with engaging brand content. The major players covered in the global e-commerce market are Amazon.com Inc., JD.com Inc., Suning Commerce Group Co. Ltd., Apple Inc., Walmart Inc., Dell Technologies Inc., Vipshop Holdings Ltd., Gome Electrical Appliances Holding Ltd., Macy’s Inc., Otto Group, Alibaba Group, PayPal , Apple, eBay, Google, PayPal , Myntra, Snapdeal, Flipkart, Lenskart. The countries covered in the global e-commerce market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global e-commerce market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global e-commerce market is segmented - 1) By Application: Home Appliances, Clothing and Footwear, Books, Cosmetics, Baby Goods, Groceries, Others 2) By Model Type: Business to Business (B2B), Business to Consumer (B2C)

Smart Buildings (Nonresidential Buildings) Market Definition

The smart buildings (nonresidential buildings) market consists of sales of smart buildings (nonresidential buildings) by entities (organizations, sole traders and partnerships) which are involved in the construction of nonresidential smart buildings and related services. Smart buildings have automated processes and increase the operational efficiency of non-residential buildings, including those used for commercial and industrial purposes. A smart building is a structure that uses automated processes which can automatically control one or many of the building’s operations including heating, ventilation, air conditioning, lighting, security, and other systems with the help of sensors, actuators, and microchips. Smart building infrastructure helps owners, operators and facility managers improve asset reliability and performance, which reduces energy use, optimizes use of space and minimizes the environmental impact of buildings.