Intelligent Building System In Multi-Family Houses Market - Forecast(2024 - 2030)

Intelligent Building System In Multi-Family Houses Market Overview

Intelligent building System in multi family houses Market Size is forecast to reach $2.5 billion by 2026, growing at a CAGR of 12.7% during 2021-2026.  Growth in penetration of Internet of Things (IoT) in the building management system, increased market for Building automation and control system adoption of green building and eco-friendly infrastructure has led to the construction of smart and energy efficient buildings., which regulates the energy usage and effectively manages the energy consumption in building across all the sectors and boost the growth of the market. Intelligent building system consists of security surveillance and control systems which is generally called intelligent security system and is based on energy management. In the developing countries, the government’s investment in infrastructure management, building management, energy management and intelligent security systems are mostly based on the energy management focusing on the lighting control system and others driving the market growth. The demand for advanced infrastructure including lighting control systems are anticipated to surge the intelligent building solution opportunities in the forecast period.

Report Coverage

The report: “Intelligent Building System In Multi-Family Houses Market Industry Outlook– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Intelligent Building System In Multi-Family Houses Market

By Product Type: Intelligent Security System, Building Energy Management System, Infrastructure Management System, Network Management system

By Type: Hardware, Software, services

By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, Australia and Others), and RoW (Middle East and Africa, South America)

Key Takeaways

• Surge in the adoption of wireless technologies such as BLE and others along with increasing construction activities to modernize the infrastructure have driven the growth of the market.

• ISS segment is witnessing a significant growth in the market owing to increasing government expenditure in smart building such as “Make in India” and others where sensors, controllers and other smart automation devices are used.

• APAC is witnessing a major growth in the market owing to the surge in expenditure for construction due to advancement in technology and growth of IoT and adoption of the wireless technology in smart infrastructure.

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Intelligent Building System In Multi-Family Houses Market Segment Analysis - By Type

The Hardware segment is growing at a significant market share of 69.1% in the forecast period as the buildings are getting continuously and exponentially smarter fuelled by the rapid technological advancement and adoption of internet of things (IoT). The hardware controls lighting, heat, ventilation, and air conditioning in the smart building. Surge in the modern building automation system uses advanced technology to collect and share information about the many important processes within the building in order to optimize the performance of the building itself. Hardware components consist of sensors, controllers and output devices which collect several data such as temperature, humidity and others and process the collected data. All these factors are analyzed to boost the growth of the market in the forecast period 2020-2026.

Intelligent Building System In Multi-Family Houses Market Segment Analysis - By Product Type

Intelligent Security Systems are expected to witness a highest CAGR of 15.5% during the forecast period as there is a requirement of security surveillance and control systems in the smart buildings and the ISS enables digital data processing and transmission. In the recent years, there is tremendous growth in construction activities predominantly in the APAC region countries such as India, China, Australia and others mainly focusing on the development of smart buildings. The Victorian Government has approved four new multi-billion dollar building projects in 2020. The South Australian state government has announced that it will fast track new major infrastructure projects. In January 2020, Italy's building production soared 8.4 percent from a year earlier, up from a 1.3 percent decline in the preceding month. It was the largest gain since March 2019 in construction production. Building production rose 7.9 percent on a seasonally adjusted monthly basis, after rising 1.4 percent in December. Investment in the construction sector continues to rise, led by the resumption of public works which are analyzed to boost the market growth in the forecast period in 2020-2026.

Intelligent Building System In Multi-Family Houses Market Segment Analysis - By Geography

Intelligent Building System In Multi-Family Houses Market in APAC region held a significant market share of 38.2% in 2020. Growth in the construction activities coupled with the surge in building automation are analyzed to fuel the market in this region. The residential construction market to remain the largest market over the forecast period and account for 67% of the total value in 2023, supported by the government’s plan to stabilize the housing market by building affordable public housing and increases the supply of rental public housing in the Australia incorporating smart technologies. Advancements in wireless communication technologies have lessened the complexity and the cost of installing building automation systems in the existing buildings along with the surge in building automation enabling saving energy and reducing operating and maintenance costs have boosted the growth of the market.

Intelligent Building System In Multi-Family Houses Market Drivers

Surge in adoption of automated security systems in buildings:

Remarkable growth in the IoT and building automation has led to the growth of the market. In addition, growth of wireless technologies and increasing adoption of IP cameras for video surveillance where mobile devices and the web act as an interface for the connection of security systems to the cloud and the integration of home security systems with cloud helps in remote monitoring of homes. The development of smart homes is facilitated by the integration of IoT which enables remote, real-time, and automated monitoring of the home environment. Moreover, development of smart sensing and actuating devices, and relevant communication technologies such as Bluetooth Low Energy (BLE), ZigBee, and ANT has enabled access to several security options, such as access control, and fire and gas detection systems, offers flexibility, convenience. These modernization and replacement activities are analyzed to propel the demand for the industrial fasteners in the forecast period.

Growth of Construction activities:

The surge in construction activities owing to the increasing government expenditure for modernization has increased the demand for Intelligent Building System In Multi-Family Houses. In Singapore, total construction demand is set to boost in the forecast period led by public sector building projects including public housing, as well as private sector projects such as the continued redevelopment of en bloc residential sites and berth facilities at Jurong Port and Tanjong Pagar Terminal. The construction sector accounts for about 4 per cent of Singapore's total gross domestic product giving the boost to the Intelligent Building System In Multi-Family Houses Market.

Intelligent Building System In Multi-Family Houses Market Challenges:

High maintenance cost along with installation:

Although there is highly a requirement of intelligent buildings but the high cost associated with the installation and maintenance of home security systems is expected to be the key factor limiting the growth of the market as the expensive hardware and consultation regarding the use of these systems increase the installation cost. In addition, although the customers have become aware of home security systems but the investments are not affordable. This high operation, installation and maintenance costs are analyzed to hamper the growth of the market in the forecast period 2020-2026.

Intelligent Building System In Multi-Family Houses Market Landscape

Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Intelligent Building System In Multi-Family Houses Market. Intelligent Building System In Multi-Family Houses Market top 10 companies include Honeywell Inc., UCT, ADT, Vivint, Johnson Controls, ASSA ABLOY, Alarm.com, Inc., Comcast Corporation, Robert Bosch, Nest Labs, Inc., Siemens among others.

Acquisitions/Product Launches

• In 2020, Siemens smart infrastructure introduced smart building suite in India equipped with technologies from Silicon Valley firms Comfy and Enlighted which enables the user to design optimized spaces with enhanced features like, asset utilization, and safety.
• In 2020, Dahua Technology launched introduced the latest series of smart access control and video intercom products  which are AI-enabled smart products

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