What is IoT For Smart Buildings Market Scope?
IoT has become one major trend in building and make them smart. This technology has the ability to connect thousands of sensors and also allows them to connect and analyze more efficiently. According to stats, today IoT in building witnessed USD 34.8 billion in FY 2017 and is expected to reach USD 84.2 billion by the year 2022. In this market, the Asia Pacific region holds a major market share because of the increase in commercial construction. According to the industry experts, technology development such as artificial intelligence, and smart lighting networks add value for buildings manager.
The IoT For Smart Buildings market study is being classified, by Application (CO Monitoring, Electrical Usage, Fire Detection, Heating, Ventilation and Air Conditioning Systems (HVAC), Lighting Control, Occupancy, Predictive Maintenance, Security and Access Control, Structural Health, Water Monitoring and Others) and major geographies with country level break-up.
The demand for IoT in buildings is increasing with each passing day. The businesses in this industry facing major competition on a global scale with leading players of the market-leading players who hold a major market share. Many international as well as regional service providers are also participants in the industry and directly compete with leaders. It has been identified that market-leading players are investing heavily in growth strategies such ad technological development, resource utilization to enhance their market position. Analysts at AMA predicts that Manufacturers from United States will contribute to the maximum growth of Global IoT For Smart Buildings market throughout the predicted period.
75F (United States), ABB (Switzerland), Accruent (United States), IBM (United States), Apple (United States), Google (United States), Amazon (United States), Acuity Brands (United States), Axis Communication (Sweden), BGrid (Netherlands) and Robert Bosch (Germany) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Brivo (United States), Lenovo (Hong Kong) and Semtech Corporation (United States).
Analyst at AMA have segmented the market study of Global IoT For Smart Buildings market by Type, Application and Region.
On the basis of geography, the market of IoT For Smart Buildings has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In Apr 2021, 75F announced the agreement with Google’s Climate Accelerator. With the help of this initiative, the company accelerates the deployment of 75F's IoT-based building management system to a range of buildings across the globe.
Influencing Market Trend
- Technological Development such as Artificial Intelligence and Big Data, Asset Digitization, Real-Time Cloud Visualization, and Energy Efficiency
- Increase Availability of Different Types of Sensors
- High Adoption of IoT Enabled BMS
- Advancement in Industry Standards and Regulations
- Growing Demand for Energy-Efficient Systems
- IoT Adoption Generates Margins and Enable Features Including Dramatically More Efficient Building Operations, Enhanced Tenant Relationships, and also New Income Generation Opportunities
- The Slowdown in Construction Activities Because of COVID-19 Pandemic
- High Complexity in Solutions
- Lack of Skilled Professionals
Key Target AudienceVenture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, IoT For Smart Buildings Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
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To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also include significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets , To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.
Frequently Asked Questions (FAQ):
1. At what growth rate would the IoT For Smart Buildings market expands?
The Global IoT For Smart Buildings market is expected to see a growth of % during projected year 2020 to 2026.
2. Who are the prominent players of the Global IoT For Smart Buildings market?
The prominent players of Global IoT For Smart Buildings market are 75F (United States), ABB (Switzerland), Accruent (United States), IBM (United States), Apple (United States), Google (United States), Amazon (United States), Acuity Brands (United States), Axis Communication (Sweden), BGrid (Netherlands) and Robert Bosch (Germany), to name a few.
3. What are the top priorities to focus for IoT For Smart Buildings market’s growth?
In this highly competitive & fast evolving IoT For Smart Buildings industry, the top strategic priorities would remain consistent like innovation, R&D and M&A.