Smart Building Sensors Market was valued at $ 6.82 Billion in 2020 and is projected to reach 31.22 Billion in 2028, growing at a CAGR of 21.3% during the forecast period 2021-2028

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.

 Key  Smart Building Sensors Market participants 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.

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The coronavirus outbreak has led to drastic changes in the current  Smart Building Sensors Market business landscape, limiting the growth opportunities for various manufacturers and buyers for the next few years. Besides making speculations about the market's post-COVID-19 scenario, the report discusses its existing situation. The report eventually offers conclusive data related to the  Smart Building Sensors Market growth assessed on both regional and global levels.

Research Methodology

Emergen Research follows a cohesive methodology to reduce the residual errors to a minimum level by refining the scope, validating through primary insights, and nurturing the in-house database on a regular basis. A dynamic model is formulated to capture the regular fluctuations in the market and thereby, being updated with any shifts in the market dynamics. The parameters and variables involved in the research vary depending on individual markets and most importantly, both demand and supply side information is included in the model to identify the market gap.

Key inclusions of the  Smart Building Sensors Market report:

COVID-19 effects on growth figures.

Statistical analysis pertaining to market size, sales volume, and overall industry revenue.

Organized mentions of major market trends.

Growth opportunities.

Figures showcasing market growth rate.

Advantages and disadvantages of direct and indirect sales channels.

Insights regarding traders, distributors, and dealers present in the industry.

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Some 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
Services
System Integration and deployment
Support and Maintenance
Consulting

Type Outlook (Revenue, USD Billion; 2018-2028)
Temperature Sensors
Humidity Sensors
Motion/Occupancy Sensors
Contact Sensors
Gas/Air Quality Sensors
Electrical Current Monitoring Sensors

Application Outlook (Revenue, USD Billion; 2018-2028)
Residential
Commercial
Industrial

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Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:

United States

Europe

China

Japan

Southeast Asia

India

We can also provide the customized separate regional or country-level reports, for the following regions:

North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa

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Some of the key questions answered in this report:

What is the size of the overall  Smart Building Sensors Market and its segments?

What are the key segments and sub-segments in the market?

What are the key drivers, restraints, opportunities and challenges of the  Smart Building Sensors Market and how they are expected to impact the market?

What are the attractive investment opportunities within the  Smart Building Sensors Market ?

What is the  Smart Building Sensors Market size at the regional and country-level?

Who are the key market players and their key competitors?

What are the strategies for growth adopted by the key players in  Smart Building Sensors Market ?

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