Connected Building Market -Growth, Trends, Opportunities, and Forecasts (2023 to 2029)

Connected Building Market was valued at US$ 1.34 Bn. in 2022. The Global Connected Building Market size is estimated to grow at a CAGR of 10.9% over the forecast period.

Connected Building Market Overview:

The Connected Building market analyzes and forecasts the market size, in terms of value, for the market. Further, the Connected Building Market is segmented by Platform, Service, End-user, and Region. Based on Platform, the Connected Building market is segmented under Device, Connectivity, and Application Management. Based on the Service, the market is segmented under the Business Process Management, Customer Engagement, Maintenance & Support, and Deployment and Integration Services. Based on End-user, the Connected Building market is segmented under Manufacturing, IT & Telecom, BFSI, Residential, Healthcare, and Others. The market sizing and forecasts have been done for each segment based on value (in USD Billion).Connected Building MarketTo know about the Research Methodology :- Request Free Sample Report

Connected Building Market Dynamics:

Buildings that are connected smart drive effectiveness in three essential areas where they work together to create opportunities for proficiency. The first is people-based efficiency, where people interact with the buildings they occupy every day. Connected Buildings connect operations, finance, and sustainability teams to the building technologies and workforce they depend on every day. This enables them to manage buildings, plan for them, and engage tenants. The second factor is technology-based efficiency, which is reducing the use of energy to power these advanced technologies. The system-based efficiency, which involves connecting systems within organizations with each other. Thus, these factors are driving the market and allowing it to grow at a healthy and sustainable rate. In addition, connected building solutions are used for commercial and non-commercial purposes. Moreover, the demand for automation, cloud computing, the Internet of Things, data analytics, and big data is expected to drive the market over the forecast period. The demand for energy-saving features is also driving the market for connected buildings during the forecast period. For IoT and existing building technologies to work together, there needs to be effective cooperation between standard bodies, corporations, city governments, and other stakeholders. This cooperation is very important to maximizing the potential of these technologies. The different layers of building management, such as property and tenant management, and facility management, have their own operating systems and requirements. Integrating these systems with other systems is not always possible, making it difficult to obtain information from building systems. Lacking cooperation between these standard bodies is restraining the market growth. It is a great opportunity for the connected building industry. As the building-infrastructure industry moves forward, Companies must develop the capabilities, partnerships, and ecosystems necessary to succeed in the new age of connectivity, where constant technological advancements will transform the environment in which we work. According to the ACEEE, systems-driven savings and smart energy management are expected to save the industry $50 billion in energy costs and increase efficiency by 12-22%. Companies will need to consider several factors as they move forward, including; Where to compete: Infrastructure domains and application domains need to be considered when players decide where to compete. How to compete: The companies should be focusing now on creating ecosystems around their products and forming relationships with potential partners that will be critical to filling in the gaps and creating an effective end-to-end solution. When to compete: Early proof points are important to customers when evaluating vendors, so players should focus on solutions that allow them to quickly establish themselves,

Connected Building Market Segment Analysis:

Based on the Platform, the Connected Building Market is segmented into Device, Connectivity, and Application Management. The Connectivity segment had the highest market share in 2022. Both incumbent infrastructure companies and new tech-focused players have a great opportunity and a lot to gain from connectivity, but they must act quickly. Many players are already trying to establish themselves as leaders in the connected-building space, so competitors who delay may never regain their lost ground. Connectivity is expected to add more than $26 billion annually to the building-controls market by 2029, which represents a significant opportunity for building infrastructure players. Based on Service, the Connected Building Market is segmented into Business Process Management, Customer Engagement, Maintenance & Support, and Deployment & Integration Services. The Business Process Management segment had the highest market share in 2022. A BPM system can help companies avoid the damage and costs associated with noncompliance. Having a central repository of all compliance documentation is a valuable feature. As part of the ongoing process of improving business processes, compliance is emerging as a new trend in the field of compliance. Based on End-user, the Connected Building Market is segmented into Manufacturing, IT & Telecom, BFSI, Residential, Healthcare, and Others. IT and Telecom segment had the highest market share in 2022, and it will boost the market growth during the forecast period. Modernization and software are driving rapid growth in the IT and Telecom industry. Further, this system reduces energy consumption, improves building efficiency, predicts maintenance, increases productivity, and makes better use of resources. 5G networks and cloud computing are attracting the attention of the end-users due to the technological benefits as they save time and effort.

Connected Building Market Regional Insights:

The North America region held the largest market share accounting for 41% in 2022. Because of huge investments in research and development, North America leads the technology industry. The growth factor in North America is controlled by the launch of the latest smart building solutions, which use the latest technologies, such as the Internet of Things (IoT), big data, deep learning, cloud computing, data analytics, and artificial intelligence (IT), to save energy, to reduce operational outflows, and to improve collective occupancy comfort. In addition, this is also enhanced by following the rules and regulations imposed by the government in North America. In this region, the US and Canada are prominent contributors to technology development. US organizations are heavily investing in connected building strategies such as building controls and building systems integration. To create healthier, safer, and more sustainable buildings, these strategies maximize energy efficiency and storage. The Canadian government is also taking steps to support Canada's commitment to the environment and its resources by reducing greenhouse gas emissions and making federal buildings more energy-efficient, which is driving the growth of connected buildings in this region. The objective of the report is to present a comprehensive analysis of the global Connected Building Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear, futuristic view of the industry to the decision-makers. The reports also help in understanding the Connected Building Market dynamic and structure by analyzing the market segments and projecting the Connected Building Market size. Clear representation of competitive analysis of key players by Design, price, financial position, Platform portfolio, growth strategies, and regional presence in the Connected Building Market make the report investor’s guide.

Connected Building Market Scope: Inquire before buying

Connected Building Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US$ 1.34 Bn.
Forecast Period 2023 to 2029 CAGR: 10.9% Market Size in 2029: US$ 2.78 Bn.
Segments Covered: by Product Device Connectivity Application management
by Service Business Process Management Customer Engagement Maintenance and Support Deployment and Integration Services
by end-user Manufacturing IT & Telecom BFSI Healthcare Residential Others

Connected Building Market by Region:

Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) North America (United States, Canada and Mexico) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Connected Building Market Key Players:

1. Rockwell Automation, Inc. 2. Jacobs 3. Tech Mahindra Limited 4. Infosys Limited 5. Capgemini Service SAS 6. Fujitsu 7. Bain & Company 8. General Electric 9. Constellation Research Inc. 10. Enghouse Interactive 11. CBT Company 12. Wipro Limited 13. Bosch Software Innovations GmbH 14. Intel Corporation 15. IBM Corporation Frequently Asked Questions: 1. What is the study period of the market? Ans. The Global Connected Building Market is studied from 2022-to 2029. 2. What is the growth rate of the Connected Building Market? Ans. The Global Connected Building Market is growing at a CAGR of 10.9% over forecast period. 3. Which region has largest share in The Global Connected Building Market? Ans. North America holds the largest share. 4. What is the Global Connected Building Market segment based on End-user? Ans. Based on End-user, The Global Connected Building Market is divided into 5. Who are the key players in the Global Connected Building Market? Ans. Rockwell Automation, Inc., Jacobs, Tech Mahindra Limited, Infosys Limited, Capgemini Service SAS, Fujitsu, Bain & Company, General Electric, Constellation Research Inc., Enghouse Interactive, CBT Company, Wipro Limited, Bosch Software Innovations GmbH, Intel Corporation, and IBM Corporation.
1. Global Connected Building Market Size: Research Methodology 2. Global Connected Building Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Connected Building Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Connected Building Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Connected Building Market Size Segmentation 4.1. Global Connected Building Market Size, by Platform(2022-2029) • Device • Connectivity • Application Management 4.2. Global Connected Building Market Size, by Service(2022-2029) • Business Process Management • Customer Engagement • Maintenance and support • Deployment and Integration Services 4.3. Global Connected Building Market Size, by End-user(2022-2029) • Manufacturing • IT & Telecom • BFSI • Residential • Healthcare • Others 5. North America Connected Building Market (2022-2029) 5.1. North America Connected Building Market Size, by Platform(2022-2029) • Device • Connectivity • Application Management 5.2. North America Connected Building Market Size, by Service(2022-2029) • Business Process Management • Customer Engagement • maintenance and Support • Deployment and Integration Services 5.3. North America Connected Building Market Size, by End-user(2022-2029) • Manufacturing • IT & Telecom • BFSI • Residential • Healthcare • Others 5.4. North America Connected Building Market, by Country (2022-2029) • United States • Canada • Mexico 6. European Connected Building Market (2022-2029) 6.1. European Connected Building Market, by Platform(2022-2029) 6.2. European Connected Building Market, by Service(2022-2029) 6.3. European Connected Building Market, by End-user(2022-2029) 6.4. European Connected Building Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Connected Building Market (2022-2029) 7.1. Asia Pacific Connected Building Market, by Platform(2022-2029) 7.2. Asia Pacific Connected Building Market, by Service(2022-2029) 7.3. Asia Pacific Connected Building Market, by End-user(2022-2029) 7.4. Asia Pacific Connected Building Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Connected Building Market (2022-2029) 8.1. Middle East and Africa Connected Building Market, by Platform(2022-2029) 8.2. Middle East and Africa Connected Building Market, by Service(2022-2029) 8.3. Middle East and Africa Connected Building Market, by End-user(2022-2029) 8.4. Middle East and Africa Connected Building Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Connected Building Market (2022-2029) 9.1. South America Connected Building Market, by Platform(2022-2029) 9.2. South America Connected Building Market, by Service(2022-2029) 9.3. South America Connected Building Market, by End-user(2022-2029) 9.4. South America Connected Building Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Rockwell Automation, Inc, 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Jacobs 10.3. Tech Mahindra Ltd. 10.4. Infosys Ltd. 10.5. Capgemini Service SAS 10.6. Fujitsu 10.7. Bain & Company 10.8. General Electric 10.9. Constellation Research Inc. 10.10. Enghouse Interactive 10.11. CBT Company 10.12. Wipro Ltd. 10.13. Bosch Software Innovations GmbH 10.14. Intel Corporation 10.15. IBM Corporation
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