The North America Smart Buildings Market would witness market growth of 9.8% CAGR during the forecast period (2021-2027).
The need for smart buildings has been rising continuously as overall awareness of energy conservation has grown. Additionally, the use of green buildings and ecologically responsible infrastructure has resulted in the creation of smart and eco-friendly buildings, which regulate and effectively manage energy consumption in buildings across all sectors. In conference rooms, unoccupied offices, and other places, advanced devices such as smart thermostats, occupancy sensors, and HVAC and smart lighting can help in decreasing energy usage. As per the American Council for an Energy-Efficient Economy (AMCEE), Smart technologies will save 8-18% of total energy consumption in subsectors such as Class B offices, small chains, independent retailers, middle-tier franchise hotels, and others.
A smart city is made up of three levels that function together. The first is the technological foundation, which consists of a vital mass of smartphones and sensors linked together by high-speed communication networks. Specific applications make up the second layer. The correct tools are needed to turn raw data into alerts, insight, and action, and that's where vendors and app developers come in, together. Usage by cities, businesses, and the general public is the third layer. Many applications are only successful if they are broadly adopted and successfully shift behavior. They encourage individuals to take public transportation during off-peak hours, to vary routes, to by using less energy and water at various times of day, and to lessen healthcare system stresses by practicing preventative self-care.
Energy costs are rapidly growing, and environmental issues became a major concern in recent years. According to the US Energy Information Administration, business and residential buildings consume nearly 40% of the country's energy. One of the primary drivers for the adoption of smart building technologies has been the growing number of government efforts to reduce energy usage.
In addition, the Canadian government is putting a strong emphasis on energy conservation, particularly in smart buildings, such as offices and houses. Additionally, the United Kingdom has invested significantly in smart building technologies, especially to lower the building sector's carbon footprint and energy usage. North America is one of the key markets for smart buildings and IoT-enabled smart devices, and the region has seen an increase in the use and adoption of these technologies. Due to the sheer large number of recent consumers in the United States and Canada, North America holds a significant part of the market.
With growing energy costs and environmental awareness, an increasing number of Americans are searching for connected, smart, and automated building solutions with the inclusion of safety and alarm system capabilities, surveillance, fire safety, and security are most commonly installed goods. In the United States, IoT-enabled smart building technologies are also generally adopted. According to the Energy Impact Assessment, the average energy prices in the United States were 10.66 cents per kilowatt-hour, and this has been steadily increasing.
The US market dominated the North America Smart Buildings Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $34,151.3 million by 2027. The Canada market is experiencing a CAGR of 12.3% during (2021 - 2027). Additionally, The Mexico market would exhibit a CAGR of 11.4% during (2021 - 2027).
Based on Building Type, the market is segmented into Residential, Industrial, Commercial. Based on Component, the market is segmented into Solution and Services. Based on Solution, the market is segmented into Safety & Security Management, Building Infrastructure Management, Energy Management, Network Management, and Integrated Workplace Management System. Based on Safety & Security Management Type, the market is segmented into Access Control System, Video Surveillance System, and Fire & Life Safety System. Based on Building Infrastructure Management Type, the market is segmented into Parking Management System, Smart Water Management System, and Elevator & Escalator Management System. Based on Energy Management Type, the market is segmented into HVAC Control System, and Lighting Management System. Based on Services Type, the market is segmented into Implementation, Consulting, and Support & Maintenance. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Smart Buildings Market is Estimated to reach $131.5 Billion by 2027, at a CAGR of 10.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., IBM Corporation, Honeywell International, Inc., ABB Group, Siemens AG, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Intel Corporation, Hitachi, Ltd., Johnson Controls International PLC, and PTC, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Buildings Type
- Residential
- Industrial
- Commercial
By Component
- Solution
- Safety & Security Management
- Access Control System
- Video Surveillance System
- Fire & Life Safety System
- Building Infrastructure Management
- Parking Management System
- Smart Water Management System
- Elevator & Escalator Management System
- Energy Management
- HVAC Control System
- Lighting Management System
- Network Management
- Integrated Workplace Management System
- Services
- Implementation
- Consulting
- Support & Maintenance
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Cisco Systems, Inc.
- IBM Corporation
- Honeywell International, Inc.
- ABB Group
- Siemens AG
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- Intel Corporation
- Hitachi, Ltd.
- Johnson Controls International PLC
- PTC, Inc.
TABLE 1 North America Smart Buildings Market, 2017 - 2020, USD Million
TABLE 2 North America Smart Buildings Market, 2021 - 2027, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Smart Buildings Market
TABLE 4 Product Launches And Product Expansions– Smart Buildings Market
TABLE 5 Acquisition and Mergers– Smart Buildings Market
TABLE 6 North America Smart Buildings Market by Buildings Type, 2017 - 2020, USD Million
TABLE 7 North America Smart Buildings Market by Buildings Type, 2021 - 2027, USD Million
TABLE 8 North America Residential Market by Country, 2017 - 2020, USD Million
TABLE 9 North America Residential Market by Country, 2021 - 2027, USD Million
TABLE 10 North America Industrial Market by Country, 2017 - 2020, USD Million
TABLE 11 North America Industrial Market by Country, 2021 - 2027, USD Million
TABLE 12 North America Commercial Market by Country, 2017 - 2020, USD Million
TABLE 13 North America Commercial Market by Country, 2021 - 2027, USD Million
TABLE 14 North America Smart Buildings Market by Component, 2017 - 2020, USD Million
TABLE 15 North America Smart Buildings Market by Component, 2021 - 2027, USD Million
TABLE 16 North America Solution Market by Country, 2017 - 2020, USD Million
TABLE 17 North America Solution Market by Country, 2021 - 2027, USD Million
TABLE 18 North America Smart Buildings Market by Solution Type, 2017 - 2020, USD Million
TABLE 19 North America Smart Buildings Market by Solution Type, 2021 - 2027, USD Million
TABLE 20 North America Safety & Security Management Market by Country, 2017 - 2020, USD Million
TABLE 21 North America Safety & Security Management Market by Country, 2021 - 2027, USD Million
TABLE 22 North America Smart Buildings Market by Safety & Security Management Type, 2017 - 2020, USD Million
TABLE 23 North America Smart Buildings Market by Safety & Security Management Type, 2021 - 2027, USD Million
TABLE 24 North America Access Control System Market by Country, 2017 - 2020, USD Million
TABLE 25 North America Access Control System Market by Country, 2021 - 2027, USD Million
TABLE 26 North America Video Surveillance System Market by Country, 2017 - 2020, USD Million
TABLE 27 North America Video Surveillance System Market by Country, 2021 - 2027, USD Million
TABLE 28 North America Fire & Life Safety System Market by Country, 2017 - 2020, USD Million
TABLE 29 North America Fire & Life Safety System Market by Country, 2021 - 2027, USD Million
TABLE 30 North America Building Infrastructure Management Market by Country, 2017 - 2020, USD Million
TABLE 31 North America Building Infrastructure Management Market by Country, 2021 - 2027, USD Million
TABLE 32 North America Smart Buildings Market by Building Infrastructure Management Type, 2017 - 2020, USD Million
TABLE 33 North America Smart Buildings Market by Building Infrastructure Management Type, 2021 - 2027, USD Million
TABLE 34 North America Parking Management System Market by Country, 2017 - 2020, USD Million
TABLE 35 North America Parking Management System Market by Country, 2021 - 2027, USD Million
TABLE 36 North America Smart Water Management System Market by Country, 2017 - 2020, USD Million
TABLE 37 North America Smart Water Management System Market by Country, 2021 - 2027, USD Million
TABLE 38 North America Elevator & Escalator Management System Market by Country, 2017 - 2020, USD Million
TABLE 39 North America Elevator & Escalator Management System Market by Country, 2021 - 2027, USD Million
TABLE 40 North America Energy Management Market by Country, 2017 - 2020, USD Million
TABLE 41 North America Energy Management Market by Country, 2021 - 2027, USD Million
TABLE 42 North America Smart Buildings Market by Energy Management Type, 2017 - 2020, USD Million
TABLE 43 North America Smart Buildings Market by Energy Management Type, 2021 - 2027, USD Million
TABLE 44 North America HVAC Control System Market by Country, 2017 - 2020, USD Million
TABLE 45 North America HVAC Control System Market by Country, 2021 - 2027, USD Million
TABLE 46 North America Lighting Management System Market by Country, 2017 - 2020, USD Million
TABLE 47 North America Lighting Management System Market by Country, 2021 - 2027, USD Million
TABLE 48 North America Network Management Market by Country, 2017 - 2020, USD Million
TABLE 49 North America Network Management Market by Country, 2021 - 2027, USD Million
TABLE 50 North America Integrated Workplace Management System Market by Country, 2017 - 2020, USD Million
TABLE 51 North America Integrated Workplace Management System Market by Country, 2021 - 2027, USD Million
TABLE 52 North America Services Market by Country, 2017 - 2020, USD Million
TABLE 53 North America Services Market by Country, 2021 - 2027, USD Million
TABLE 54 North America Smart Buildings Market by Services Type, 2017 - 2020, USD Million
TABLE 55 North America Smart Buildings Market by Services Type, 2021 - 2027, USD Million
TABLE 56 North America Implementation Market by Country, 2017 - 2020, USD Million
TABLE 57 North America Implementation Market by Country, 2021 - 2027, USD Million
TABLE 58 North America Consulting Market by Country, 2017 - 2020, USD Million
TABLE 59 North America Consulting Market by Country, 2021 - 2027, USD Million
TABLE 60 North America Support & Maintenance Market by Country, 2017 - 2020, USD Million
TABLE 61 North America Support & Maintenance Market by Country, 2021 - 2027, USD Million
TABLE 62 North America Smart Buildings Market by Country, 2017 - 2020, USD Million
TABLE 63 North America Smart Buildings Market by Country, 2021 - 2027, USD Million
TABLE 64 US Smart Buildings Market, 2017 - 2020, USD Million
TABLE 65 US Smart Buildings Market, 2021 - 2027, USD Million
TABLE 66 US Smart Buildings Market by Buildings Type, 2017 - 2020, USD Million
TABLE 67 US Smart Buildings Market by Buildings Type, 2021 - 2027, USD Million
TABLE 68 US Smart Buildings Market by Component, 2017 - 2020, USD Million
TABLE 69 US Smart Buildings Market by Component, 2021 - 2027, USD Million
TABLE 70 US Smart Buildings Market by Solution Type, 2017 - 2020, USD Million
TABLE 71 US Smart Buildings Market by Solution Type, 2021 - 2027, USD Million
TABLE 72 US Smart Buildings Market by Safety & Security Management Type, 2017 - 2020, USD Million
TABLE 73 US Smart Buildings Market by Safety & Security Management Type, 2021 - 2027, USD Million
TABLE 74 US Smart Buildings Market by Building Infrastructure Management Type, 2017 - 2020, USD Million
TABLE 75 US Smart Buildings Market by Building Infrastructure Management Type, 2021 - 2027, USD Million
TABLE 76 US Smart Buildings Market by Energy Management Type, 2017 - 2020, USD Million
TABLE 77 US Smart Buildings Market by Energy Management Type, 2021 - 2027, USD Million
TABLE 78 US Smart Buildings Market by Services Type, 2017 - 2020, USD Million
TABLE 79 US Smart Buildings Market by Services Type, 2021 - 2027, USD Million
TABLE 80 Canada Smart Buildings Market, 2017 - 2020, USD Million
TABLE 81 Canada Smart Buildings Market, 2021 - 2027, USD Million
TABLE 82 Canada Smart Buildings Market by Buildings Type, 2017 - 2020, USD Million
TABLE 83 Canada Smart Buildings Market by Buildings Type, 2021 - 2027, USD Million
TABLE 84 Canada Smart Buildings Market by Component, 2017 - 2020, USD Million
TABLE 85 Canada Smart Buildings Market by Component, 2021 - 2027, USD Million
TABLE 86 Canada Smart Buildings Market by Solution Type, 2017 - 2020, USD Million
TABLE 87 Canada Smart Buildings Market by Solution Type, 2021 - 2027, USD Million
TABLE 88 Canada Smart Buildings Market by Safety & Security Management Type, 2017 - 2020, USD Million
TABLE 89 Canada Smart Buildings Market by Safety & Security Management Type, 2021 - 2027, USD Million
TABLE 90 Canada Smart Buildings Market by Building Infrastructure Management Type, 2017 - 2020, USD Million
TABLE 91 Canada Smart Buildings Market by Building Infrastructure Management Type, 2021 - 2027, USD Million
TABLE 92 Canada Smart Buildings Market by Energy Management Type, 2017 - 2020, USD Million
TABLE 93 Canada Smart Buildings Market by Energy Management Type, 2021 - 2027, USD Million
TABLE 94 Canada Smart Buildings Market by Services Type, 2017 - 2020, USD Million
TABLE 95 Canada Smart Buildings Market by Services Type, 2021 - 2027, USD Million
TABLE 96 Mexico Smart Buildings Market, 2017 - 2020, USD Million
TABLE 97 Mexico Smart Buildings Market, 2021 - 2027, USD Million
TABLE 98 Mexico Smart Buildings Market by Buildings Type, 2017 - 2020, USD Million
TABLE 99 Mexico Smart Buildings Market by Buildings Type, 2021 - 2027, USD Million
TABLE 100 Mexico Smart Buildings Market by Component, 2017 - 2020, USD Million
TABLE 101 Mexico Smart Buildings Market by Component, 2021 - 2027, USD Million
TABLE 102 Mexico Smart Buildings Market by Solution Type, 2017 - 2020, USD Million
TABLE 103 Mexico Smart Buildings Market by Solution Type, 2021 - 2027, USD Million
TABLE 104 Mexico Smart Buildings Market by Safety & Security Management Type, 2017 - 2020, USD Million
TABLE 105 Mexico Smart Buildings Market by Safety & Security Management Type, 2021 - 2027, USD Million
TABLE 106 Mexico Smart Buildings Market by Building Infrastructure Management Type, 2017 - 2020, USD Million
TABLE 107 Mexico Smart Buildings Market by Building Infrastructure Management Type, 2021 - 2027, USD Million
TABLE 108 Mexico Smart Buildings Market by Energy Management Type, 2017 - 2020, USD Million
TABLE 109 Mexico Smart Buildings Market by Energy Management Type, 2021 - 2027, USD Million
TABLE 110 Mexico Smart Buildings Market by Services Type, 2017 - 2020, USD Million
TABLE 111 Mexico Smart Buildings Market by Services Type, 2021 - 2027, USD Million
TABLE 112 Rest of North America Smart Buildings Market, 2017 - 2020, USD Million
TABLE 113 Rest of North America Smart Buildings Market, 2021 - 2027, USD Million
TABLE 114 Rest of North America Smart Buildings Market by Buildings Type, 2017 - 2020, USD Million
TABLE 115 Rest of North America Smart Buildings Market by Buildings Type, 2021 - 2027, USD Million
TABLE 116 Rest of North America Smart Buildings Market by Component, 2017 - 2020, USD Million
TABLE 117 Rest of North America Smart Buildings Market by Component, 2021 - 2027, USD Million
TABLE 118 Rest of North America Smart Buildings Market by Solution Type, 2017 - 2020, USD Million
TABLE 119 Rest of North America Smart Buildings Market by Solution Type, 2021 - 2027, USD Million
TABLE 120 Rest of North America Smart Buildings Market by Safety & Security Management Type, 2017 - 2020, USD Million
TABLE 121 Rest of North America Smart Buildings Market by Safety & Security Management Type, 2021 - 2027, USD Million
TABLE 122 Rest of North America Smart Buildings Market by Building Infrastructure Management Type, 2017 - 2020, USD Million
TABLE 123 Rest of North America Smart Buildings Market by Building Infrastructure Management Type, 2021 - 2027, USD Million
TABLE 124 Rest of North America Smart Buildings Market by Energy Management Type, 2017 - 2020, USD Million
TABLE 125 Rest of North America Smart Buildings Market by Energy Management Type, 2021 - 2027, USD Million
TABLE 126 Rest of North America Smart Buildings Market by Services Type, 2017 - 2020, USD Million
TABLE 127 Rest of North America Smart Buildings Market by Services Type, 2021 - 2027, USD Million
TABLE 128 Key Information – Cisco Systems, Inc.
TABLE 129 Key information – IBM Corporation
TABLE 130 Key information – Honeywell International, Inc.
TABLE 131 Key Information – ABB Group
TABLE 132 Key Information – Siemens AG
TABLE 133 key information – Huawei Technologies Co., Ltd.
TABLE 134 Key Information – Intel Corporation
TABLE 135 Key Information – Hitachi, Ltd.
TABLE 136 Key Information – Johnson Controls International PLC
TABLE 137 key Information – PTC, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2017-2021)
FIG 4 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2017, Nov – 2022, Feb) Leading Players
FIG 5 Recent strategies and developments: IBM Corporation
FIG 6 Recent strategies and developments: Honeywell International, Inc.
FIG 7 Swot analysis: Honeywell international, inc.
FIG 8 Recent strategies and developments: ABB Group
FIG 9 Recent strategies and developments: Siemens AG
FIG 10 SWOT analysis: Intel corporation
FIG 11 Recent strategies and developments: Hitachi, Ltd.
FIG 12 Recent strategies and developments: Johnson Controls International PLC