Nonresidential Building Construction Market Definition

The nonresidential building construction market consists of sales of nonresidential building construction services and related goods by entities (organizations, sole traders and partnerships) that construct non-residential buildings (including new work, additions, alterations, maintenance, and repairs). The establishments in this market include non-residential general contractors, non-residential for-sale builders, non-residential design-build firms, and non-residential project construction management firms. Non-residential building refers to a building which, according to its initial construction, is not intended for temporary or permanent human habitation. Non-residential buildings can be industrial, administrative, resort and other.

Building materials and garden equipment and supplies dealers are sellers that are engaged in retailing specialized lines of new building materials, such as lumber, fencing, glass, doors, plumbing fixtures and supplies, electrical supplies, prefabricated buildings and kits, and kitchen and bath cabinets and countertops to be installed. The main types of building materials and garden equipment and supplies dealers are building materials and supplies dealers, lawn and garden equipment, and supplies stores. Lawn and garden equipment and supplies stores sell products that include lawn and garden equipment, furniture, and products related to the cultivation of flowers, vegetables, and so on. The main ownership types are retail chains and independent retailers, each having different types of stores that include exclusive retailers/showrooms and inclusive retailers/dealer stores. The building material and garden equipment and supplies dealers market research report is one of a series of new reports from The Business Research Company that provides building material and garden equipment and supplies dealers market statistics, including building material and garden equipment and supplies dealers industry global market size, regional shares, competitors with a building material and garden equipment and supplies dealers market share, detailed building material and garden equipment and supplies dealers market segments, market trends and opportunities, and any further data you may need to thrive in the building material and garden equipment and supplies dealers industry. This building materials and garden equipment and supplies dealers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global building material and garden equipment and supplies dealers market grew from $1,427.99 billion in 2022 to $1,546.1 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The building material and garden equipment and supplies dealers market is expected to grow to $2,036.98 billion in 2027 at a CAGR of 7.1%. The building materials and garden equipment and supplies dealers market is expected to benefit from steady economic growth forecasted for many developed and developing countries. According to International Monetary Fund (IMF), the global GDP growth was 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a decline in the historic period is further expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, and foreign direct investments in the end-user markets, thereby driving the market during the forecast period. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the building materials and garden equipment and supplies market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in the manufacture and trade of non-essential goods and an overall decline in economic activity with countries entering a state of "lock down" and the outbreak having a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the building materials and garden equipment and supplies dealers market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. With rising awareness regarding environmental pollution, the demand for green building materials is increasing. Green building materials are sustainable, have a low carbon footprint, and help reduce exposure to toxic chemicals in residences and workplaces. These materials are moisture-resistant, energy-efficient, easy to maintain and create less production waste. As people become aware of polluting and hazardous construction materials, the industry accommodates organic architecture and biodegradable materials in the design of homes and commercial spaces. Consumers now demand safer products. For instance, American consumers are increasingly opting for sustainable building materials that are locally made, refurbished or remanufactured, and resilient to natural disasters. Major companies in the building material and garden equipment and supplies dealers market include the home depot, Lowe's Companies Inc., Wesfarmers Ltd., Falabella S.A., Rewe Group, Steinhoff International Holdings N.V., Ace Hardware Corporation, and Beijing Easyhome Investment Holding Group Co.Ltd. North America was the largest region in the building material and garden equipment and supplies dealers market in 2022. Asia-Pacific was the second-largest region in the building material and garden equipment and supplies dealers market. The regions covered in the building material and garden equipment and supplies dealers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the building material and garden equipment and supplies dealers market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The building materials and garden equipment and supplies dealers market includes revenues earned by entities by providing services through producers and wholesale distributors. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global building material and garden equipment and supplies dealers market is segmented - 1) By Type: Building Material and Supplies Dealers, Lawn and Garden Equipment and Supplies Stores 2) By Ownership: Retail Chain, Independent Retailer 3) By Type of Store: Exclusive Retailers/Showroom, Inclusive Retailers/Dealer Store

The internet of things, or IoT, is a collection of interconnected smart devices, mechanical and digital machines, objects, animals or people supplied with unique identifiers (UIDs) and the ability to transmit data across a network without needing human-to-human or human-to-computer interaction. The main types of internet of things (IoT) services are professional services and managed services. A professional service is an intangible product that a contractor or product vendor sells to help a customer manage a specific part of their business. The various type of verticals are manufacturing, retail, IT & telecom, transportation & logistics, utilities, healthcare, energy, and others. The various applications of internet of things (IoT) services are smart buildings, smart manufacturing, smart transport and logistics, smart healthcare, smart retail, and smart energy. The internet of things (IoT) services market research report is one of a series of new reports from The Business Research Company that provides internet of things (IoT) services market statistics, including internet of things (IoT) services industry global market size, regional shares, competitors with an internet of things (IoT) services market share, detailed internet of things (IoT) services market segments, market trends and opportunities, and any further data you may need to thrive in the internet of things (IoT) services industry. This internet of things (IoT) services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global iot services market size will grow from $188.8 billion in 2022 to $214.47 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global iot services market size is expected to grow to $400.78 billion in 2027 at a CAGR of 16.9%. An increase in the internet of things use cases is expected to drive the IoT service market. IoT use cases are the areas where IoT can be used for automating the process and increasing productivity. Over the years IoT has found its use in many areas such as manufacturing, farming, smartwatches, smart cities, transportation, and other fields, which has increased the need for IoT services that provide support by delivering services such as consulting, data management, network management, security services, and others. For instance, Telit, a leading IoT enabler, provides an IoT security system that helps users to control and monitor the surveillance along with collecting data and analyzing it to improve the security of buildings, turning them into smart buildings. The IoT use cases eventually increase the demand for IoT services and are expected to drive market growth. Low enterprise adoption is expected to hinder the IoT services market. Even though IoT has found it useful in many vertical industries, the enterprise adoption is low due to many factors such as little or no awareness, the involvement of more humans in the operating system gives a less or no room for automation and most importantly due to security concerns regarding the data. For instance, in October 2020, according to a research conducted by Bitdefender, a Romania-based cybersecurity company, 42% of the companies surveyed stated that they are following a “wait and see” strategy to observe the effect of IoT and 33% of businesses that are still on the fence about adopting IoT say they are unsure of the benefits for their industry. Low enterprise adoption thereby restrains the IoT services market. Edge or cloud computing is enhancing the deployment of workload on IoT devices. Edge or cloud computing is a solution that facilitates data processing and data storage in the cloud. For instance, Microsoft recently released its Azure IoT Edge, a managed service built on Azure IoT Hub that deploys the workloads like artificial intelligence, third party services, or own business logic on cloud and runs the workload on IoT edge device. Edge devices spend less time communicating with the cloud and react quickly to changes and operate reliably. Amazon provides two IoT software FreeRTOS and AWS IoT Greengrass, AWS IoT Greengrass extends AWS to the edge devices and they can act locally by generating the data and FreeRTOS is open source and operating system used for microcontrollers that makes low power edge devices easy to secure, deploy and manage. In September 2020, Accenture, an Ireland-based leading global professional service provider that provides strategy, digital, and technology services, has acquired cloud industrial Internet of Things consultancy SALT Solutions, headquartered in Würzburg, Germany for an undisclosed amount to expand its IoT services. The acquisition is expected to build cloud-based IoT platforms that “speed up and optimize clients’ production and logistics”. SALT Solutions will help clients improve how they operate factories and plants. SALT implements and maintains IT systems for production, operations and logistics at various companies such as automotive, manufacturing, consumer goods, chemicals and other companies. Major players in the internet of things (IoT) services market are Cisco Systems; Cognizant; Google; Infosys; Tieto Corporation; Virtusa Corporation; Accenture PLC; IBM; Tech Mahindra; Harman International Industries; Microsoft; Wipro; Hcl Technologies; Tata Consultancy Services Limited; AT and T; Honeywell International Inc.; Amazon; HP (Hewlett Packard); Intel Security Group; Apple and Qualcomm. Asia-Pacific was the largest region in the internet of things (IoT) services market in 2022. North America was the second largest region in the global internet of things (IoT) services market. The regions covered in the global internet of things (IoT) services report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the internet of things (IoT) services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The Internet of Things (IoT) services market includes revenues earned by entities by providing IoT services that are used in building and home automation, smart energy and utilities, connected logistics, smart retail, smart mobility, and transportation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global IoT services market is segmented - 1) By Type: Professional Services, Managed Services 2) By Vertical: Manufacturing, Retail, IT & Telecom, Transportation & Logistics, Utilities, Healthcare, Energy, Other Verticals 3) By Application: Smart Buildings, Smart Manufacturing, Smart Transport and Logistics, Smart Healthcare, Smart Retail, Smart Energy

Non-residential construction is the process of building, altering, repairing, improving, or demolishing any non-residential building or structure such as industrial buildings, commercial buildings, buildings for public entertainment, etc. The main types of non-residential building construction are institutional buildings and commercial buildings. Institutional buildings are municipal structures that can be funded either publicly or privately. Institutional structures are frequently ornately designed and subjected to a great deal of public scrutiny and involvement during the design process. The different building types include non-residential smart buildings, traditional buildings, and buildings that are implemented in various sectors, such as private and public. The non-residential building construction market research report is one of a series of new reports from The Business Research Company that provides non-residential building construction market statistics, including non-residential building construction industry global market size, regional shares, competitors with a non-residential building construction market share, detailed non-residential building construction market segments, market trends and opportunities, and any further data you may need to thrive in the non-residential building construction industry. This non-residential building construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global nonresidential building construction market grew from $2791.54 billion in 2022 to $2903.75 billion in 2023 at a compound annual growth rate (CAGR) of 4.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The nonresidential building construction market is expected to grow to $3294.4 billion in 2027 at a CAGR of 3.2%. A rapidly growing urban population is expected to increase the demand for new residential and commercial buildings during the forecast period. According to the UN World Urbanization Prospects report, globally, it is projected that more than two-thirds (60%) of the world's population will be living in cities by 2050. Large opportunities are expected to arise in Asian countries such as Indonesia, Vietnam, and the Philippines, which are becoming increasingly popular for export-oriented manufacturing. According to the World Bank, the urban population in South Asia is expected to grow by 250 million by 2030. This rapid urbanization is expected to boost the demand for new infrastructure and drive the non-residential building construction market during the forecasted period. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the non-residential building construction market in 2020 as supply chains were disrupted due to trade restrictions and construction activities were affected due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in Wuhan, Hubei province of the People’s Republic of China and has spread globally, including Western Europe, North America, and Asia. Construction companies depend on the supply of raw materials and equipment from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, companies had to halt construction activities due to a lack of equipment and raw materials. The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the non-residential building construction market will recover from the shock over the forecast period as it is a “black swan” event and not related to ongoing or fundamental weaknesses in the market or the global economy. Building construction companies are increasingly using green construction techniques to build energy-efficient buildings and reduce construction costs. Green construction refers to the practise of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact. According to the World Green Building Trends Survey, about 60% of construction firms across the globe were involved in green construction projects. Certifications such as Leadership in Energy and Environmental Design (LEED) help construction companies to develop high-performance, sustainable residential and commercial buildings and also offer a variety of benefits, from tax deductions to marketing opportunities. Sustainable construction materials such as natural paints and steel beams made from recycled materials are being widely used in the UK. Other green construction techniques such as cross-ventilation for a more natural environment, green construction software such as Construction Suite to ensure green compliance, and the Green Globes management tool are also being used in the construction industry. Major companies in the non-residential building construction market include Shanghai Construction Group Co., Ltd., Bouygues SA, Greenland Holding Group, Obayashi Corporation, Daiwa House Group Asia-Pacific was the largest region in the non-residential building construction market in 2022. North America was the second-largest region in the non-residential building construction market. The regions covered in the global non-residential building construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the non-residential building construction market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The non-residential building construction market includes revenues earned by entities by constructing non-residential buildings such as hotels, restaurants, educational buildings, health buildings, and other non-residential buildings. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global nonresidential building construction market is segmented - 1) By Type: Institutional Buildings, Commercial Buildings 2) By End User Sector: Private, Public 3) By Buidling Type: Non residential Smart Buildings, Traditional Buildings Subsegments Covered: Education Buildings, Public Convenience Buildings, Government Buildings, Religious Buildings, Healthcare Buildings, Office And Factory Buildings, Hospitality And Restaurant Buildings, Entertainment And Sports Buildings, Retail And Other Commercial Buildings

Real estate rental refers to properties used as dwellings or provided on rent to rental occupants, or tenants, for temporary use by the property owners. The rent of goods or services is governed by a rental agreement or contract between an owner of a product and an end-user where payment is made by the end user for the temporary use of the product. The main types of real estate rental are residential buildings and dwellings rental services, non-residential buildings rental services, mini-warehouses, self-storage unit rental services, and other rental services. Residential rental property is defined as a dwelling bought by an investor and occupied by tenants under a lease or other sort of rental arrangement. The different modes include online, and offline and involve various property types such as fully furnished, semi-furnished, and unfurnished. The real estate rental market research report is one of a series of new reports from The Business Research Company that provides real estate rental market statistics, including the real estate rental industry global market size, regional shares, competitors with a real estate rental market share, detailed real estate rental market segments, market trends and opportunities, and any further data you may need to thrive in the real estate rental industry. This real estate rental market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global real estate rental market grew from $2,375.91 billion in 2022 to $2,561.84 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The real estate rental market is expected to grow to $3,388.85 billion in 2027 at a CAGR of 7.2%. Real estate agents are increasingly using new technologies such as online listing, video, and virtual reality (VR), to provide better services to clients and strengthen the buyer-agent relationship. With advancements in technology, the role of real estate agents is shifting from just an information arbitrators to local market experts and service providers. Online real estate listing services such as Zillow and realtor.com provide housing databases and information on tax and purchase history. Technologies such as video, VR tours, and e-signing services also streamline real estate transactions. For instance, in June 2021, Cartus Corporation, a real estate services company based in the United States, launched a new technology-enabled global personnel solution under its Language and Intercultural Solutions business line. The new digital learning environment, as well as Language and Intercultural Solutions, assists employees in traveling and relocating to new locations, as well as coaching them through some of the most critical transitions in their professional and personal Major companies in the real estate rental market include Daito Trust Construction Co. Ltd., Brookfield Asset Management, American Tower Corporation, Sun Hung Kai Properties Limited, CapitaLand Limited, Mitsui Fudosan Co. Ltd., Xiamen C&D, Simon Property Group Inc., Digital Realty Trust Inc., and Leopalace21 Corporation. Asia-Pacific was the largest region in the real estate rental market in 2022. North America was the second-largest region in the real estate rental market. The regions covered in the real estate rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the real estate rental market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The real estate rental market consists of revenues earned by entities that rent, lease, and allow the use of buildings and or land such as serviced offices and co-working spaces. The rental agreement is a document used for the occupying of space (either commercial or residential) for a period of time in exchange for monthly rent. This market also includes managing, selling, renting, buying, and appraising real estate for others. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global real estate rental market is segmented - 1) By Type: Residential Buildings And Dwellings Rental Services, Non-Residential Buildings Rental Services, Mini warehouses And Self-Storage Units Rental Services, Other Rental Services 2) By Mode: Online, Offline 3) By Property Type: Fully Furnished, Semi-Furnished, Unfurnished

5G is the fifth generation of broadband or cellular technology designed to improve the speed and responsiveness of wireless networks dramatically. It provides high speed, greater bandwidth, and a lower latency Internet network. The main communication type of 5G services are fixed wireless access (FWA), enhanced mobile broadband (eMBB), ultra-reliable and low latency communications (uRLLC) and massive machine-type communications (mMTC). Fixed Wireless Access (FWA) is a method of providing wireless connectivity between two fixed points via radio links. The services are used for smart cities; smart buildings; connected factories; smart utilities; connected healthcare; connected retail and others by manufacturing, energy and utilities, media and entertainment, IT and telecom, transportation and logistics and healthcare. The 5G services market research report is one of a series of new reports from The Business Research Company that provides 5G services market statistics, including 5G services industry global market size, regional shares, competitors with a 5G services market share, detailed 5G services market segments, market trends and opportunities, and any further data you may need to thrive in the 5G services industry. This 5G services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global 5g services market size will grow from $95 billion in 2022 to $150 billion in 2023 at a compound annual growth rate (CAGR) of 57.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global 5g services market size is expected to grow to $781.72 billion in 2027 at a CAGR of 51.1%. Rising demand from the Internet of Things (IoT) is anticipated to contribute to higher demand for 5G services in order to deliver high performance and efficiency. According to the Federation of Indian Chambers of Commerce & Industry (FICCI), the global market revenue for the Internet of Things (IoT) is projected to reach $1.1 trillion by the end of 2025. The IoT connections across the globe is expected to increase to 25 billion by 2025, growing at a CAGR of 17%. Therefore, growing demand for IoT and the requirement to connect smart devices with high-speed internet boost the revenue for the 5G services market over the forthcoming years. The high cost of 5G smartphones and related devices is expected to limit the growth of the 5G services market in the forecast period. According to executives of leading companies such as Xiaomi, Samsung and OnePlus in January 2020, the price of 5G smartphone chipsets is twice as costly as the price of 4G smartphone chipsets. Consequently, expensive parts result in a high cost of production leading to higher prices of 5G smartphones. This scenario is anticipated to adversely impact the growth of the 5G Services market over the forecast period. The introduction of AI-powered services is a major trend shaping the growth of the 5G services market. The commercial usage of 5G services is expanding rapidly. The growth in the number of connections and cloud-based AR or VR is generating higher demand for 5G services with greater bandwidth, wide coverage, and low latency networks. For instance, in September 2022, Nokia Corporation, a Finland-based communication and information technology company, announced that it has made NTT DOCOMO Inc. use its artificial intelligence (AI) radio frequency (RF) capacity planning software in order to speed up radio frequency planning and assist the Japanese operator in deploying its 5G network effectively. AVA* software from Nokia, which delivers "intelligence everywhere," includes an AI RF capacity planning solution. Based on DOCOMO's specifications, it was modified to be able to predict the RF capacity of 4G cells from BTS performance data and simulate the best candidate locations for 5G cell and RAN hardware to achieve the necessary area capacity. Therefore, the introduction of AI in 5G services in order to increase the accuracy and agileness is to act as a major trend for the 5G services market. In November 2020, Accenture, a professional services company based in Ireland acquired Acra for an undisclosed amount. The acquisition will enhance Accenture's ability to drive comprehensive transformation across 5G deployment and network operations. Acra is a Spain-based engineering company with a focus on network operations and business services. Major players in the 5G services market are AT&T, Verizon Communications, Inc., China Mobile, Vodafone, Telstra, China Telecom, Deutsche Telecom, SK Telecom, Saudi Telecom Company, and T-Mobile USA Inc. Asia-Pacific was the largest region in the 5G services market in 2022. North America was the second largest region in the global 5G services market. The regions covered in the global 5G services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the 5G services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The 5G services market includes revenues earned by entities by providing 5th generation advance cellular technology services that provide faster means of communication through high bandwidth, good spectrum management, segregation of data, and routing. 5G services deliver high levels of efficiency and performance that empower to connect new industries and user experiences. Cellular networks using 5G services can connect with more devices, handle more data, significantly reduce latency, and are reliable. This technology is more beneficial for companies operating into robotics, automation, and IoT. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global 5G services market is segmented - 1) By Communication Type: Fixed Wireless Access (FWA), Enhanced Mobile Broadband (eMBB), Ultra-Reliable and Low Latency Communications (uRLLC), Massive Machine-Type Communications (mMTC) 2) By End-User: Manufacturing, Energy & Utilities, Media & Entertainment, IT & Telecom, Transportation & Logistics, Healthcare 3) By Vertical: Smart Cities, Smart Buildings, Connected Factories, Smart Utilities, Connected Healthcare, Connected Retail, Other Verticals

Buildings construction is the process of building, altering, repairing, improving, or demolishing residential and non-residential buildings or structures using a detailed design and plan. The main types of building construction are residential building construction and non-residential building construction. Non-residential structures comprise non-residential structures as well as fixtures, facilities, and equipment that are integral to the structures as well as site clearance and preparation costs. The different types of buildings include smart buildings, traditional buildings, and those used by private and public industries. The building construction market research report is one of a series of new reports from The Business Research Company that provides building construction market statistics, including building construction industry global market size, regional shares, competitors with a building construction market share, detailed building construction market segments, market trends and opportunities, and any further data you may need to thrive in the building construction industry. This building construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global buildings construction market grew from $7079.99 billion in 2022 to $7557.41 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The buildings construction market is expected to grow to $9596.54 billion in 2027 at a CAGR of 6.2%. The population profile of most countries is becoming older, which is increasing the demand for elderly-friendly infrastructure. For instance, according to World Health Organization (WHO), an specialized government agency, between 2020 to 2050, the number of people with 80 years of age or older is expected to triple and reach to 426 million and by 2050, the number of people aged 60 and over will double to reach 2.1 billion So, the demand for infrastructural improvements that are "elderly" friendly will increase during the forecast period. Houses and the wider surroundings had to be adapted to be made safer and more inclusive. Better residential as well as non-residential buildings had to be made more accessible to the elderly. This resulted in increased building construction activity. Building construction costs are increasing steadily due to rising material costs. Companies in the industry experienced subdued growth in their profits with rising prices of materials such as crude oil. A key component of asphalt, increased by 58% in 2021 from the year 2020. According to the latest Producer Price Index (PPI) released by the Bureau of Labour Statistics, in the US, prices paid for items used in residential construction jumped 1.7% in April 2021 and have increased by 12.4% over the last 12 months. According to the National Association of Home Builders (NAHB), softwood lumber prices jumped 6.5 percent in April 2021, marking a new high for the third month in a row. Lumber prices have risen by 52.0 percent since November 2020. High material prices will adversely affect the building construction market during the forecast period. Building construction companies are increasingly using green construction techniques to build energy-efficient buildings and reduce construction costs. Green construction refers to the practise of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact. In the UK, certifications such as Leadership in Energy and Environmental Design (LEED) help construction companies to develop high-performance, sustainable residential and commercial buildings and also offer a variety of benefits, from tax deductions to marketing opportunities. Sustainable construction materials such as natural paints and steel beams made from recycled materials are being widely used in the UK. Other green construction techniques such as cross-ventilation for a more natural environment, green construction software such as Construction Suite to ensure green compliance, and the Green Globes management tool are also being used in the construction industry. For instance, some major companies using green construction techniques include Turner Construction Co., Clark Group, AECOM, Hensel Phelps, and Holder Construction. Major companies in the building construction market include China State Construction Engineering Corporation Ltd., China Evergrande Group, Country Garden Holdings Co Ltd., Sunac China Holdings Ltd., Greenland Holding Group Asia-Pacific was the largest region in the building construction market in 2022. North America was the second-largest region in the building construction market. The regions covered in the building construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the building construction market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The building construction market includes revenues earned by entities by constructing buildings such as hotels, houses, apartments, restaurants, schools, sports, offices, hospitals, governments, and other buildings. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global buildings construction market is segmented - 1) By Type: Residential Building Construction, Nonresidential Building Construction 2) By End User Sector: Private, Public 3) By Buidling Type: Smart Buildings, Traditional Buildings Subsegments Covered: Single-Family Housing Construction (Individual Houses), Multifamily Housing Construction (Apartments), New Housing For-Sale Builders, Residential Remodelers, Institutional Buildings, Commercial Buildings

A smart city employs information and communication technology (ICT) to boost operational performance, share data with the people, and enhance government service and citizen comfort. It employs technology to provide services and solve municipal issues. The main types of components in smart cities are solutions and services. The solution refers to smart solutions such as smart parking, smart utilities, smart metering, smart healthcare solutions, smart buildings, and smart governance solutions. These solutions are used for accelerating the growth of citizens. The different types include Residential, commercial, and industrial and involve several applications such as smart governance, smart building, smart utilities, smart transportation, smart healthcare, and others. The smart cities market research report is one of a series of new reports from The Business Research Company that provides smart cities market statistics, including smart cities industry global market size, regional shares, competitors with a smart cities market share, detailed smart cities market segments, market trends and opportunities, and any further data you may need to thrive in the smart cities industry. This smart cities market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global smart cities market size grew from $562.25 billion in 2022 to $678.07 billion in 2023 at a compound annual growth rate (CAGR) of 20.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The smart cities market size is expected to grow to $1,460.93 billion in 2027 at a CAGR of 21.2%. The rising urbanization all over the globe is expected to drive the growth of the smart cities market going forward. Urbanization refers to the population movement from rural to an urban setting and increasing human population densities in urban areas. A smart city is a technologically advanced urban area that gathers information using various electronic technologies, voice activation methods, and sensors. For instance, according to the United Nations Department of Economic and Social Affairs, 68% of the world’s population is 2.5 billion people are projected to live in urban areas by 2050. Therefore, rising urbanization all over the globe is driving the growth of the decorative coatings market. Technological advancements have emerged as a key trend gaining popularity in the smart cities market. Major companies operating in the smart cities sector are focused on innovative technologies to modernize urban transit infrastructure and deliver fast, efficient, and equitable public transportation. For instance, in January 2020, Hayden AI, a US-based artificial intelligence technology company launched the first autonomous traffic management platform with vision-based perception devices. These gadgets are installed in city vehicles such as street sweepers, buses, and garbage trucks. Precision localization technology is included in each vehicle-mounted perception device, allowing it to recognize and map items such as parking meters, traffic lights, fire hydrants, street signs, lane lines, and trees. In July 2021, Signify, a Netherlands-based lighting company acquired Telensa for an undisclosed amount. Through this acquisition, Signify will be able to serve a wider range of clients, which will make smart city infrastructure more affordable to cities that use the unlicensed radio spectrum. Telensa is a UK-based company that provides smart city solutions. Major players in the smart cities market are Siemens, Cisco, Hitachi, IBM Corporation, Microsoft, Schneider Electric, Huawei, Intel, ABB, Ericsson, Itron, Oracle, Accenture, Vodafone, Signify, Kapsch, AT&T, Google, TCS, AppyParking, Nokia, Samsung, SAP SE, TomTom N.V., Fujitsu, and Honeywell. North America was the largest region in the smart cities market in 2022. The regions covered in the smart cities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the smart cities market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The smart cities market includes revenues earned by entities by providing solutions and services that automate the processes of energy management, street light monitoring, temperature monitoring, parking management, water resource management, smart metering solutions, and unified command & control platform to improve and optimize the operational efficiency of any city and making critical infrastructure elements like energy, lighting, water work in a smart manner. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global smart cities market is segmented - 1) By Component: Solutions, Services 2) By Type: Roadways, Railways, Airways 3) By Application: Smart Governance, Smart Building, Smart Utilities, Smart Transportation, Smart Healthcare, Other Applications