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Smart Buildings Market Worth $121.6 billion by 2026, Growing At a CAGR of 10.9% Report by MarketsandMarkets™

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Chicago, July 28, 2023 (GLOBE NEWSWIRE) — The global Smart Buildings Market size to grow from USD 72.6 billion in 2021 to USD 121.6 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.9% during the forecast period, according to a new report by MarketsandMarkets™. The global smart buildings market is gaining traction, owing to factors such as rising adoption of IoT-enabled building management system, rising awareness of space utilization, increased industry standards and regulations, and increase demand for energy efficient system.

Browse in-depth TOC on “Smart Buildings Market

330 – Tables
54 – Figures
301 – Pages

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Scope of the Report

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Report Metrics Details
Market size value in 2021 USD 72.6 billion
Market size value in 2026 USD 121.6 billion
Growth rate CAGR of 10.9%
Market size available for years 2017–2026
Base year considered 2021
Forecast period 2022–2026
Forecast units Value (USD) Million/Billion
Segments Covered By component, building type, and region.
Geographies Covered North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies Covered Some of the significant Smart Buildings Market vendors are Cisco (US), IBM (US), Honeywell (US), Siemens (Germany), Johnson Controls (Ireland), Huawei (China), Intel (US) and many more.

Smart buildings offer enhanced provide endless opportunities for improved convenience to the occupant and have enhanced capabilities. Although smart building initiatives have been underway for some time in the commercial real estate, the smart building movement has really gained traction with the proliferation of various technology majorly the Internet of Things (IoT) technology. Construction and facilities management professionals realize the cost, efficiency, and energy-saving benefits of installing IoT sensors, switches, and analytics to make buildings digitally smarter. 

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The scope of this report covers the smart buildings market by component (solutions and services), building type, and region. The energy management solution segment is expected to grow at the highest CAGR during the forecast period. Energy management solutions for smart building help to reduce and monitor the energy consumption of the building. Buildings are becoming more sustainable and energy-efficient through the optimization of the infrastructure using energy management solutions.

The industrial segment in building type is expected to grow at the highest CAGR during the forecast period owing to smart industrial building automate building temperature control, security, and maintenance for more efficient property management through various mobile computing devices, such as mobile devices and computers. The smart industrial building segment of the Smart buildings market involves data gathering, analytics, and building operations optimization along with energy savings. Reducing energy expenditure is critical for industrial and manufacturing facilities as it directly contributes to the OPEX and CAPEX of companies and can affect profitability. This has driven the demand for smart building solutions to effectively manage and reduce energy costs.

By region, North America is estimated to hold the highest market share during the forecast period. This is due to the emergence of latest smart building solutions that leverage new technologies, such as IoT, big data, cloud computing, data analytics, deep learning, and artificial intelligence, for saving energy, reducing operational expenditures, increasing occupancy comfort, and meeting increasingly stringent global regulations and sustainability standards. Key vendors, such as Cisco, Johnson Controls, IBM, Honeywell, and Siemens, have been trying to seize these opportunities by expanding their market presence. 

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Top Trends in Global Smart Buildings Market

The global Smart Buildings Market is growing rapidly, and there are a number of key trends that are driving this growth. Some of the top trends in the global Smart Buildings Market include:

  • The development of smart buildings was greatly aided by the Internet of Things (IoT) technology, which made it possible for numerous systems and devices to connect and share data. This integration made it possible for building activities to be controlled and automated more effectively, which boosted energy efficiency and reduced costs.
  • There has been a greater emphasis on energy management and sustainability in smart buildings due to growing worries about climate change and energy use. To lessen their carbon footprint and running expenses, building owners and operators seek to adopt energy-efficient technologies and renewable energy sources.
  • In order to improve performance, foresee maintenance needs, and improve occupant comfort, AI and machine learning technologies were integrated into smart building systems. Buildings could now learn from data trends and modify operations thanks to these technologies.
  • By including elements like individualised temperature management, interior air quality monitoring, and lighting systems that adjusted based on occupancy and natural light, smart buildings attempted to increase occupant comfort and well-being.
  • Smart buildings have been equipped with improved security systems that use cutting-edge technologies like facial recognition, biometric access control, and video analytics to increase security and thwart unauthorised access.
  • Smart building automation technologies have become much more widely used. Automated controls for the HVAC, lighting, and other building systems increased energy efficiency and made managing the building for the operators easier.
  • Due to its ability to move data processing and analysis closer to the data source, reduce latency, and improve real-time decision-making skills, edge computing has gained popularity in the market for smart buildings.
  • To handle and analyse the enormous amounts of data produced by smart building technologies, cloud-based platforms were frequently deployed. These technologies allowed for centralised monitoring and management and remote access to building data.
  • As vast amounts of data were produced and gathered by smart buildings, worries regarding data security and privacy surfaced. The development and operation of smart buildings now place a high focus on ensuring reliable cybersecurity measures.

Key Industry Development

The Smart Buildings Market is constantly evolving, with new technologies and solutions emerging all the time. Here are some of the key industry developments that are shaping the market:

  • It was anticipated that the rollout of 5G technology will significantly affect the market for smart buildings. The seamless connectivity that 5G’s faster data rates, reduced latency, and larger capacity will allow for a wide range of smart devices and apps inside buildings would open up new opportunities for real-time data analytics and improved building automation.
  • Building automation technologies were improving in sophistication and usability, allowing for the seamless integration and management of several building systems. Easy interoperability across various smart devices and systems was made possible by open protocols and standardisation efforts.
  • Edge computing was gaining popularity as a means of processing and analysing data closer to the source, minimising reliance on cloud infrastructure, and enhancing the capacity for real-time decision-making.
  • Smart buildings are evolving quickly thanks to the convergence of Internet of Things (IoT) and Artificial Intelligence (AI) technology. To improve building operations, preventive maintenance, and energy efficiency, machine learning and AI-driven analytics were being used to IoT data.
  • The industry gave more focus to data security and privacy as a result of the rise in data volume produced by smart building systems. To protect private data and stop unauthorised access to building systems, effective cybersecurity measures were put in place.
  • To evaluate and acknowledge the sustainability and efficiency of buildings, the development of smart building certifications and standards was becoming more widespread. Led (Leadership in Energy and Environmental Design) and BREEAM (Building Research Establishment Environmental Assessment Method) certifications are two that are well-known and commonly used.
  • In order to lessen their dependency on conventional energy systems and cut down on carbon emissions, smart buildings are incorporating renewable energy sources like solar panels and wind turbines.
  • The COVID-19 pandemic hastened the incorporation of wellness and health elements in smart buildings. To improve occupant safety and wellbeing, touchless interfaces, occupancy tracking, air quality monitoring, and other health-focused technology were implemented.
  • In order to support demand response capabilities and optimise energy use depending on grid conditions and electricity pricing, smart buildings were increasingly connecting with smart networks.
  • Building owners and operators were emphasising the use of smart building technologies to enhance tenant engagement and experience. Users had more control over their office settings because to mobile apps and user interfaces, which increased pleasure and productivity.

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Artificial Intelligence

How AIoT shapes the future of mobility: Hikvision at ITS World Congress 2024

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HANGZHOU, China, Sept. 27, 2024 /PRNewswire/ — Hikvision made a significant impact at the ITS World Congress in Dubai with its captivating theme, “Embrace AIoT for safer, smarter, and greener mobility.” Its booth became a hub of innovation, where visitors explored AIoT solutions that are reshaping the transportation landscape, sparking deep conversations on the future of urban mobility.

Road safety revolution: harnessing AIoT for secure transportation
Hikvision’s commitment to road safety was on full display at its booth through the impressive array of AIoT solutions designed to create secure and reliable traffic environments. The company’s technology provides 24/7 traffic monitoring, ensuring continuous oversight of motor vehicles, non-motorized vehicles, pedestrians and environmental factors. This comprehensive, real-time information collection enables traffic managers to prevent accidents and enhance road safety. Among the showcased products was the 20 MP IR ANPR Checkpoint Capture Unit, renowned for its high-definition capture capabilities, bolstering traffic safety measures.
A standout innovation was the integration of advanced radar and camera technologies, ensuring uninterrupted, comprehensive detection even in adverse weather conditions. The Radar-Video Fusion Incident Detection Cameras, featured prominently in the product experience area, enable early detection and warning of potential hazards. They are particularly effective in challenging situations such as curved roads, blind spots at intersections, and obstacles beyond visual range.
Attendees also engaged with onboard monitoring products on the simulated bus, including dome network cameras, which is designed to enhance passenger safety. Driving assistance products, such as the Driver Status Monitor (DSM), were demonstrated to mitigate unsafe driving behaviors and ensure safer journeys.
Urban mobility redefined: smart traffic innovations
In the realm of smarter mobility, Hikvision showcased its multidimensional sensing technology, which integrates visible light sensors, infrared sensors, radar, and sonar. This technology expands perception capabilities, significantly improving traffic management and situational awareness. The use of AI-powered comprehensive sensing elevates incident monitoring and violation detection to unprecedented levels of accuracy and efficiency.
A major attraction was the Radar-Video Fusion TandemVu PTZ Camera, which integrates millimeter-wave radar with high-resolution cameras for extensive traffic detection and data analysis. AI-based algorithms combine these two systems to enhance target information, detecting up to 16 types of incidents. This leads to the development of a large-scale fusion model that merges spatial physical data with image semantic information. The result is ultra-long-range perception, achieving over 95% accuracy in vehicle trajectory detection. This robust system improves traffic violation management and optimizes traffic flow, significantly enhancing road efficiency.
At the simulated bus station, visitors observed how AI-assisted people counting automated the collection of passenger flow statistics at peak stop hours and bus line frequency during busy periods. Paired with smart bus stop digital signage, the solution improves bus service quality, operational efficiency, passenger experience, and overall public transport effectiveness.
Sustainable transportation: leading the charge for greener cities
Hikvision’s commitment to sustainable urban mobility was evident through its innovative green wave technology and eco-friendly checkpoint solutions. Green wave technology efficiently manages traffic flow to reduce congestion and lower carbon emissions, aligning with global sustainability goals. Visitors were particularly impressed by a case study showcasing a green wave solution implemented in Zhoushan, China. Over a stretch of 21 kilometers and 34 intersections, this main road cut travel times by 50%.
The use of DarkFighterX technology in checkpoint cameras also received significant attention. This technology senses both visible and invisible light, resulting in more accurate and realistic images. It enhances traffic violation enforcement efficiency while minimizing the need for high ambient light levels, thus reducing light pollution. The 9M DarkfightX ANPR Checkpoint Camera exemplified this dedication to environmental stewardship.
Frank Zhang, President of Hikvision MEA, remarked, “Hikvision supports sustainable urban planning by empowering traffic departments to address congestion and transportation challenges.” He further emphasized, “Our system’s openness fosters a secure and reliable platform for developing smart and green cities. Additionally, our solar technology is extensively utilized in remote areas, while our smart street lighting solutions reduce energy consumption by 20-30%, promoting intelligent urban transportation and advancing global sustainability objectives.”
Hikvision’s presence at the ITS World Congress in Dubai underscored its leadership in integrating AIoT technologies to drive safer, smarter, and greener mobility solutions. The engaging presentations and advanced product demonstrations captured significant attention from industry partners and customers, reaffirming the company’s role as a pioneer in shaping the future of urban transportation. As the world moves towards more intelligent and sustainable transportation systems, Hikvision remains at the forefront, embracing AIoT to create a safer, smarter, and greener future for all.
To find out more about Hikvision’s advanced traffic and public transport solutions, please explore the Hikvision official website.
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Artificial Intelligence

Anti-Drone Market worth $7.05 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Sept. 27, 2024 /PRNewswire/ — The global anti-drone market was valued at USD 2.16 billion in 2024 and is projected to reach USD 7.05 billion by 2029; it is expected to register a CAGR of 26.7% during the forecast period according to a new report by MarketsandMarkets™. Increasing government spending on counter-drone technologies, rising incidence of critical infrastructure security breaches by unauthorized drones, and surge in adoption of aerial remote sensing technologies to safeguard critical infrastructure are attributed to the demand for anti-drone.

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Browse in-depth TOC on “Anti-Drone Market” 178 – Tables61 – Figures253 – Pages
Anti-Drone Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 2.16 billion
Estimated Value by 2029
$ 7.05 billion
Growth Rate
Poised to grow at a CAGR of 26.7%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By System Type, Application, Platform type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Vulnerability to hacking
Key Market Opportunities
Emphasis on improving unmanned aircraft systems technology
Key Market Drivers
Growing number of illicit activities
By System Type: Hybrid systems to account for the larger market share in the forecasted year.
The hybrid segment accounted for the largest share of the anti-drone market in 2029. The trends of integrating multiple anti-drone technologies are rising since they are most effective in detecting, tracking, and neutralizing drone threats. These systems merge electronic, kinetic, and lasers, providing a comprehensive defense solution against UAVs. Hybrid systems use electronic, kinetic, and laser-based countermeasures to offer optimum protection against drones. These systems are designed to detect, track, identify, categorize, and mitigate drones at operational wide ranges ranging from a few km up to tens of km.
By Platform: The ground-based segment accounted for the largest market share in the forecast year.
The ground-based segment will hold a major share of the anti-drone market in 2029. Many ground-based anti-drone systems use several electronic technologies, such as radar, IR sensors, acoustic systems, and RF & GNSS jammers. MESA radar solutions are used mostly for counter-UAS purposes, protecting critical infrastructure, military camps, and other security-sensitive sites from unauthorized drones. One such solution is EchoGuard, a ground-based airspace management solution that contains a software-defined 3D radar that can be specific to the site. This system can identify single or multiple off-chance drones, including swarms in unauthorized areas. They provide accurate and sustained airspace surveillance for the field of view (FOV) they are configured, and both human and AI-monitored visual checks. The system can be easily transported and integrated directly with the command-and-control centers or another identification sensor for portable use, and multiple units of the system can be combined to cover vast areas or lengths of borders. Major providers of ground-based counter-drone systems include companies like EchoDyne Corporation, DeTect, Meteksan Defense, and WhiteFox Defense. Acoustics-based Discovair G2 utilizes patented microphone arrays. With 128 interconnected microphone elements, the Discovair sensor units can establish azimuth and elevation to the target in real-time using advanced digital signal processing.
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By Region: Americas are expected to hold the largest share of the anti-drone market during the forecast period.
Americas is expected to capture the largest share in the anti-drone industry during the forecast period. The growth can be attributed to protecting crucial infrastructure in the region. Governments, particularly in the US, invest in anti-drone systems for military bases, borders, and critical infrastructure. For Instance, in April 2023, RTX secured a USD 237 million contract from the US Army to provide Ku-band Radio Frequency Sensors (KuRFS) and Coyote effectors. These systems are designed to detect and neutralize unmanned aircraft systems (UAS). The contract includes stationary and mobile systems and a specified quantity of effectors, all aimed at enhancing the Army’s operations within the US Central Command region.
Key Players-
The key companies offering anti-drone companies include RTX (US), Lockheed Martin Corporation (US), Leonardo S.p.A. (Italy), Thales (France), and IAI (Israel).
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Rohan SalgarkarMarketsandMarkets™ INC. 1615 South Congress Ave.Suite 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/anti-drone-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/anti-drone.asp
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Artificial Intelligence

CluePoints Launches Medical & Safety Review (MSR) Software to Revolutionize Clinical Data Review

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CluePoints furthers its commitment to delivering innovative solutions that enhance clinical trial efficiency with this latest addition to its enterprise software platform.
KING OF PRUSSIA, Pa., Sept. 27, 2024 /PRNewswire/ — CluePoints continues to transform clinical trial review and leverage its industry-leading software to enhance the interrogation, analysis and presentation of data with the launch of its latest application, Medical & Safety Review (MSR).

The tool simplifies and streamlines the medical analysis of study data through user-friendly dashboards, data manipulation and cleaning, query management and full transparency over the data history. This not only improves efficiency and communication in medical oversight, but also elevates patient safety, differentiating MSR as a smarter and unique solution.
Designed by, and for Medical and Safety Reviewers, MSR converts the manual analysis of patient outcomes, which can be prone to inefficiency and error, into an accurate, efficient process. MSR tackles time-consuming study preparation for specific visualizations by featuring a comprehensive standard visualization library as well as the ability to copy and reuse dashboards across different studies, enabling the identification of outlying values, change tracking, and improved communication for smarter clinical trials.
Other benefits of MSR include:
Enhanced medical review efficiency and reduced human errors via automated checksReduced time spent by clinical and data management teams in reviewing dataImproved collaboration with integrated review workflows across departmentsEnsured record quality and accountability with comprehensive change trackingDriving faster decision making with the proactive detection of trends and safety issuesEnsuring regulatory compliance with rule-based detection and user assignmentsAndy Cooper, Chief Executive Officer at CluePoints, commented, “We are thrilled to announce the launch of Medical & Safety Review to our growing product offerings. MSR is the latest application addition to the CluePoints platform, which includes products such as Risk-Based Quality Management (RBQM) and our Site Profile & Oversight Tool (SPOT). Together, they provide a comprehensive approach to clinical trial optimization, enhancing data integrity, ensuring regulatory compliance, and accelerating drug development. The creation of MSR ensures a more streamlined review process while prioritizing patient safety at every step and empowers medical teams to swiftly identify outliers, track data changes, and improve communication.”
To learn more about CluePoints’ award-winning solutions, please visit www.cluepoints.com
About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. We are leveraging the potential of Artificial Intelligence using Advanced Statistics and Machine Learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.
 

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