Smart Building Sensors Market Future Outlook, Classification, Demand, Regional Analysis and Forecast to 2028
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Increasing advancements in sensing technology and rising adoption of smart security solutions are some key factors driving market revenue growth
VANCOUVER, BC, CANADA, September 13, 2022 /EINPresswire.com/ -- Smart building sensors market size reached USD 6.82 Billion in 2020 and is expected to register a revenue CAGR of 21.3% during the forecast period, according to latest analysis by Emergen Research. Rising advancements in sensing technology is expected to support market revenue growth during 2021-2028. Moreover, increasing adoption of smart security solutions is expected to boost market growth. Sensors at present are very powerful and receptive and therefore can capture large volume real-time data which are further processed and analyzed using sophisticated machine learning algorithms. Large organizations have connected sensors to major processes in their plants and factories that can detect, report, and analyze data to achieve higher levels of process efficiency. Increasing demand for Integrated Workplace Management System (IWMS) has led to increase in demand for powerful sensors. IWMS enables real estate portfolio management, space and facility management as well as maintenance, and capital project management. Integrated sensors input data into the IWMS to measure parameters such as condition of equipment, sound levels, indoor lighting, energy consumption, room temperature, and even occupancy trends. These are some major factors driving revenue growth of global smart building sensors market currently.
The Smart building sensors Market report presents comprehensive information covering insightful data for businesses and investors for the time period of 2020-2028. The report studies the historical data of the Smart building sensors market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the Smart building sensors industry based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the Smart building sensors market.
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Some Key Highlights From the Report
Solutions segment is expected to register a significantly robust revenue growth rate over the forecast period owing to increasing demand for smart solutions in infrastructure projects along with demand for real-time data for better management and maintenance of buildings.
Residential segment revenue is expected to expand at a substantially rapid CAGR during the forecast period owing to increasing demand for energy efficient smart building and rising government initiatives to support smart cities.
North America is expected to register a faster revenue growth rate than other regional markets in the smart building sensors market over the forecast period owing to robust presence of international and domestic smart building sensor providers such as Cisco Systems, Inc., Honeywell International Inc., Intel Corporation, and Verdigris Technologies, Inc., among others.
In November 2021, Spacewell International released version 21 of its BIM-enabled MCS IWMS software which primarily brings improvement in the areas of space management, workplace reservations, maintenance, and business intelligence, with a range of new dashboards. MCS is a modular IWMS that integrates a wide range of different solutions and mobile applications.
The researchers have considered all the factors influencing the growth of the Smart Building Sensors market on the global and regional scale. The report considers the COVID-19 pandemic as one of the key influencing factors of the Smart Building Sensors market. The pandemic has disrupted the supply chains and economic scenario of the market and has hindered the growth of the market. The report discusses in detail the overall impact of the COVID-19 pandemic on the Smart Building Sensors market and its key segments. The report also offers a current and future impact of the COVID-19 pandemic on the market.
Major Players/Manufacturers profiled in the report are:
Cisco Systems, Inc., Honeywell International Inc., Johnson Controls International PLC., Schneider Electric Industries SAS, Intel Corporation, Spacewell International, Huawei Technologies Co. Ltd, Siemens AG, ABB Ltd., and Verdigris Technologies, Inc.
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Emergen Research has segmented global smart building sensors market on the basis of component, type, application, and region:
Component Outlook (Revenue, USD Billion; 2018–2028)
Solutions
Infrastructure Management
Parking Management System
Plumbing and Water Management System
Elevators and Escalator System
Security and Emergency Management
Access Control System
Intelligent Security System
Video Surveillance System
Safety System
Energy Management
HVAC Control System
Lighting Control System
Services
System Integration and deployment
Support and Maintenance
Consulting
Type Outlook (Revenue, USD Billion; 2018–2028)
Temperature Sensors
Humidity Sensors
Motion/Occupancy Sensors
Contact Sensors
Gas/Air Quality Sensors
Electrical Current Monitoring Sensors
Application Outlook (Revenue, USD Billion; 2018–2028)
Residential
Commercial
Industrial
The Global Smart Building Sensors Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Smart Building Sensors market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report offers insightful information about the market dynamics of the Smart Building Sensors market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Smart Building Sensors market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Smart Building Sensors market.
Key Benefits of the Report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
In-depth 8 year analysis of the Global Smart Building Sensors Market
Critical assessment of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Smart Building Sensors Market Size Worth USD 31.22 Billion in 2028
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