smart building market value

The key drivers of the smart building market include rising demand for energy efficiency, IoT adoption, and enhanced occupant comfort.

PORTLAND, OREGON, UNITED STATES, October 5, 2023 /EINPresswire.com/ -- The smart building market was valued at $69.80 billion in 2021, and is estimated to reach $201.16 billion by 2031, growing at a CAGR of 11.3% from 2022 to 2031.

Smart buildings are characterized by the use of completely integrated systems that communicate critical information and utilize this information to improve the efficiency of the buildings. Smart buildings can help manage almost every aspect of building management using IoT sensors, higher floors, and building automation, including HVAC, lighting, shading, security, and even user-centric tasks like navigation and conference room scheduling.

Request Sample PDF Report at: https://www.alliedmarketresearch.com/request-sample/820

The integration of Internet of Things (IoT) devices is a pivotal trend in smart buildings. From smart thermostats and lighting systems to occupancy sensors, these connected devices enable real-time data collection and analysis. This data is used to optimize building operations, enhance occupant comfort, and improve energy efficiency.

Sustainability remains a top priority in the smart building sector. Building owners and operators are increasingly adopting energy-efficient solutions, such as smart HVAC systems, solar panels, and advanced insulation. These technologies not only reduce carbon footprints but also lead to substantial cost savings in the long run.

If you have any special requirements, please let us know: https://www.alliedmarketresearch.com/request-for-customization/820

Smart buildings are designed with the occupant experience in mind. Advanced automation, personalized lighting, and climate control systems provide a more comfortable and productive environment for building users. The integration of mobile apps and AI-driven personalization further enhances the user experience.

Big data analytics and artificial intelligence are revolutionizing smart building management. These technologies help predict maintenance needs, optimize resource allocation, and enhance security. AI-driven algorithms can analyze vast amounts of data to make informed decisions in real time, ultimately reducing operational costs.

Buy Now & Get Exclusive Discount on this Report (275 Pages PDF with Insights, Charts, Tables, and Figures) at: https://www.alliedmarketresearch.com/smart-building-market/purchase-options

Region wise, the smart building market was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to the presence of a highly developed ICT sector and high spending, aiding the growth of the smart building industry. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to various government initiatives and digital transformation trends within the region, which is expected to fuel the smart building market trends in this region.

The key players profiled in the smart building market analysis are ABB, Cisco Systems, Inc., Hitachi, Ltd., Honeywell International Inc., Huawei Technologies Co., Ltd., IBM Corporation, Intel Corporation, Johnson Controls, PTC, and Siemens. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Inquire Here Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/820

Similar Reports:
1. Smart Grid Market
2. Location Analytics Market

Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.