The study on the Global Smart Building Sensors Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Smart Building Sensors market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Smart Building Sensors industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Smart Building Sensors industry
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 advancements of smart sensors has led to increasing adoption for smart security solutions in buildings. A smart sensor consists of a combination of sensor, microprocessor and a communication technology which incorporates rule-based elements that provide various functions such as conversion of data, data processing and external device communication. Smart sensors play an important role in smart security systems. For instance, thermal imaging sensors can be used to detect an intruder\'s body heat and send alerts updating the authorities of intrusion. Similarly, devices such as smart locks, motion sensors, and window and door sensors are commonly connected to a common network.
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Competitive Landscape:
The latest report encases an in-depth summary of the intensely competitive landscape of the Smart Building Sensors market, with systematic profiling of the companies operating across this industry. In this section of the report, experts have listed down the strategic initiatives undertaken by these market rivals for proposed business expansion. Additionally, it highlights the key developments and financial positions of these companies to explain the overall market scenario. The company profiles of the established and new players have also been assessed in the report through effective analytical tools like SWOT analysis.
Some major companies in the global market report include 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.
The complete regional analysis covers:
- North America (U.S., Canada, Mexico)
- 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)
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.
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
- Infrastructure Management
- Solutions
- Services
- System Integration and deployment
- Support and Maintenance
- Consulting
Key point summary of the report:
- It also offers regional analysis and forecast of smart building sensors market for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa
- It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
- The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
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