Smart Building Market m

Smart
Building Market: Industry
Potential, Trends and forecast to 2032

As per a recent
research report, Smart
Building Market to surpass USD 500 Bn by 2032.

Global Smart Building Market
size will garner appreciable gains over 2023-2032. Surging integration of AI
and IoT in buildings is working in favor of industry growth. These technologies
help provide meaningful insights and real-time data about the building's
performance and help owners optimize building operations and enhance the safety
and comfort of occupants. IoT devices, such as surveillance
cameras and access control systems, are increasingly being integrated with
AI-powered analytics to improve the security and safety aspects of buildings.

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Moreover,
many prominent market players operating in the field are constantly investing
in product innovations to retain their industry standing. Citing an instance,
in November 2022, Hitachi Elevator (Thailand) Co., Ltd unveiled the launch of a
first-ever full-scale smart building solution business in Thailand and
Southeast Asia, which aims to provide value to buildings with digital service
and physical security systems.

The
overall smart building industry is segmented based on component, application,
and region.

Based
on components, the smart building industry size from the services segment was
worth more than USD 25 billion in 2022. High availability of professional
building services is creating a strong scope for segment growth. Moreover,
building service providers are focusing on utilizing advanced technology and
equipment to enhance productivity, accuracy, and safety in their operations.
They are also emphasizing conducting energy audits and assessments to evaluate
the energy performance of buildings, which will bolster segmental gains in the
long run.

In
terms of application, the market size from the residential application segment
recorded a decent valuation in 2022. Growing advancements in smart home
automation are shaping the segment outlook. In fact, sensor technology in smart
homes has gained immense traction. Motion sensors, occupancy sensors, light
sensors, and environmental sensors are now more accurate and responsive.
Especially, occupancy sensors can be used to control lighting, heating,
ventilation, and air conditioning (HVAC) systems, ensuring energy efficiency by
automatically adjusting settings based on occupancy.

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North America biorationals market will
garner appreciable gains through 2032. Increasing consumer demand for
sustainable agricultural solutions and supportive government policies is
supporting regional expansion. Moreover, the strong presence of leading market
players such as Valent BioSciences, Certis USA, and others prioritizing product
innovations will further augment the demand for biorationals in North America
in the coming years.

Partial chapters of report table of contents (TOC):

Chapter 2   Executive Summary

2.1    Smart building
industry 360º synopsis, 2018 – 2032

2.2    Business trends

2.2.1    Total addressable
market (TAM) trends, 2023 - 2032

2.3    Regional trends

2.4    Component trends

2.5    Application trends

Chapter 3   Smart Building Industry Insights

3.1    Impact of COVID-19
outbreak

3.1.1    North America

3.1.2    Europe

3.1.3    Asia Pacific

3.1.4    Latin America

3.1.5    MEA

3.2    Impact analysis of
Russia-Ukraine war

3.3    Impact of China-US
trade war

3.4    Impact on value chain

3.5    Smart building
industry ecosystem analysis

3.5.1    Hardware providers

3.5.2    Automation and
technology providers

3.5.3    Clous services
providers

3.5.4    Distribution
channel analysis

3.5.5    End-users

3.5.6    Vendor matrix

3.6    Technology &
innovation landscape

3.6.1    AI/Machine learning

3.6.2    IoT

3.6.3    BIM

3.6.4    Blockchain

3.6.5    Edge analytics

3.6.6    Digital twin

3.7    Smart building
architecture

3.8    Evolution of smart
building

3.9    Profit margin analysis

3.10    Regulatory landscape

3.10.1    North America

3.10.2    Europe

3.10.3    Asia Pacific

3.10.4    Latin America

3.10.5    MEA

3.11    Patent analysis

3.12    Key initiatives
& news

3.13    Industry impact
forces

3.13.1    Growth drivers

3.13.1.1    Growing IoT and
AI integration in building solutions

3.13.1.2    Government
initiatives to reduce energy consumption

3.13.1.3    Increasing
investment in smart city projects

3.13.1.4    Increasing focus
on occupant comfort and safety

3.13.1.5    Rising interest
to achieve sustainable goals

3.13.2    Industry pitfalls
and challenges

3.13.2.1    High cost of
investment

3.13.2.2    Government
policies for data privacy

3.14    Growth potential
analysis

3.15    Porter's analysis

3.16    PESTEL analysis

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