Rising IOT Adoption Drives Smart Non-Residential Building Market Growth: A Game-Changing Factor in the Smart Buildings (Nonresidential Buildings) Market’s Future Growth
The smart buildings (nonresidential buildings) market size is expected to see rapid growth in the next few years. It will grow to $127.62 billion in 2029 at a compound annual growth rate (CAGR) of 13.0%. The growth in the forecast period can be attributed to increased urbanization, increasing IoT evolving smart cities and increasing demand. Major trends in the forecast period include adopting artificial intelligence and robotics to assist in construction activities, utilizing predictive analytics techniques to improve risk scans and reduce production costs, adopting IoT technologies to increase operational efficiencies, investing in security solutions to safeguard consumers, investing in smart switches and displays to provide a seamless user experience, adopting green construction and energy efficient techniques to develop environmentally-friendly smart nonresidential buildings, using living or green roofs to enhance efficiency of the green buildings, implementing low-emittance windows or smart glasses for better functioning of green commercial spaces.
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How has the smart buildings (nonresidential buildings) market evolved, and what factors have shaped its growth?
The smart building (non-residential) market is driven by the increasing demand to automate tasks using IoT (Internet of Things) devices. IoT involves sending and receiving data by a network of sensors, appliances, meters, and other devices in a smart building. IoT enabled sensors and devices are used to increase the efficiency of the appliances in a smart building, making it more efficient, sustainable, and safer. For example, a few IoT enabled sensors are capable of automatically turning the lights on and off, sensing the presence in a room, thus adding a distinctive attribute to the smart building. Thus, the increased adoption of IoT technology boosts the growth of the smart building market. For instance, the installed base of connected devices in the commercial smart building vertical is expected to rise from 1.7 billion in 2020 to approximately 3 billion by 2025, indicating a 10.8% CAGR. Thus, the increased use of IoT devices in smart buildings increases the growth of the smart building (non-residential) market.
What are the major segments of the smart buildings (nonresidential buildings) market?
The smart buildings (nonresidential buildings) market covered in this report is segmented –
1) By Automation Type: Intelligent Security System, Building Energy Management System, Infrastructure Management System, Network Management System
2) By Product Type: Institutional Buildings, Commercial Buildings
3) By Type: New Constructions, Remodeling Projects
4) By Application: Government, Airports, Hospitals, Institutes Manufacturing & Industrial facilities, Other Applications
Subsegments:
1) By Intelligent Security System: Access Control Systems, Video Surveillance Systems, Intrusion Detection Systems
2) By Building Energy Management System (BEMS): HVAC Control Systems, Lighting Control Systems, Energy Monitoring and Optimization Tools
3) By Infrastructure Management System: Facility Management Software, Asset Tracking and Management Tools, Maintenance Management Systems
4) By Network Management System: Network Monitoring and Performance Management, Data Center Management Tools, Cloud-Based Management Solutions
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Which companies dominate the smart buildings (nonresidential buildings) market?
Major companies operating in the smart buildings (nonresidential buildings) market include China State Construction Engineering Co., Ltd., VINCI, Bechtel Corporation, Skanska AB, Turner Construction Company, Jacobs Engineering Group Inc., The Whiting-Turner Contracting Company, PCL Construction, AECOM, BESIX Group, Shanghai Construction Group (SCG), SGS Group, Larsen & Toubro, GMR Group, Hindustan Construction Company, GVK Group, Kajima Corporation, Shimizu Corporation, Shanghai Intelligent Building Technology (SIBT), Obayashi Corporation, Taisei Corporation, Balfour Beatty, Bouygues, Royal BAM Group, Laing O`Rourke, ACS Group, EllisDon Corporation, Aecon Group Incorporated, Ledcor Group of Companies, Gilbane Building Company, Empresas ICA SAB de CV, Carso Infraestructura y Construcción S.A.B., Clark Group, Swinerton, Hensel Phelps, Lendlease, Arabian Construction Company, WBHO Construction (Pty) Ltd., Stefanutti Stocks (Pty) Ltd, WK construction, Redcon Construction Company, Estim Construction Co. Ltd, Eco-Beam, Ecomo, TSAI design studio
How will evolving trends contribute to the growth of the smart buildings (nonresidential buildings) market?
The use of 5G technology is the latest trend in the smart building (non-residential) market. 5G technology is the upcoming cellular technology that reduces the time it takes for devices over a wireless network to communicate with each other. 5G implementation in smart buildings will considerably enhance the usage of wireless edge devices, providing rich multimedia experiences. 5G will also improve security check applications for commercial buildings. For smart hospital buildings, the use of 5G is estimated to improve the wayfinding that will enable smart wheelchairs and beds to move immobile patients. Mobile operators are expected to invest more than $600 billion in their 5G networks between 2022-2025. The factory is involved in the manufacturing of advanced antenna system radios to enable rapid 5G deployments. The use of 5G technology is expected to improve the connectivity in smart buildings, thus forming a trend that is witnessing a huge capital investment by the major players in the smart building (non-residential) market.
What are the key regional dynamics of the smart buildings (nonresidential buildings) market, and which region leads in market share?
The countries covered in the smart buildings (nonresidential buildings) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
What Does The Smart Buildings (Nonresidential Buildings) Market Report 2025 Offer?
The smart buildings (nonresidential buildings) market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Smart buildings (non-residential Buildings) construction is the process of building, altering, repairing, improving, or demolishing any non-residential smart home using a detailed design and plan. Smart homes are futuristic buildings equipped with advanced electronics and wireless devices. The smart home system requires a web portal or smartphone application to interact with the automated system as a user interface.
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