The global intelligent building market will grow at a compound annual rate of 10.5% from 2020 to 2025

According to a report released by Markets and Markets, an international market research institution, the global smart building market is expected to grow from $66.
3 billion in 2020 to $108.
9 billion in 2025, with a compound annual growth rate of 10.
5%.

According to the report, the main growth drivers for smart buildings include the increasing adoption of IoT-enabled building management systems, increased awareness of space utilization, increasing industry standards and regulations, and increased
demand for energy-efficient systems.

According to the report, the components of the smart building market mainly include solutions (safety and security management, energy management, building infrastructure management, network management, IWMS), services, building types (residential, commercial, industrial), and others
.
Among them, security management solutions in the solution segment are expected to lead the smart building market
in 2020.

For most buildings, whether residential or commercial, safety and security are top of mind
.
Access control and video surveillance systems help track relevant activities, help detect intruders and keep the environment secure
.
The deployment of advanced access control systems, video surveillance systems, and fire and life safety systems is increasing to protect owners and assets
.

The industrial construction segment is expected to grow
at the fastest rate during the forecast period.
Industrial buildings are usually large in space and have many structural compositions
.
Smart industrial building solutions enable more efficient asset management
by automating building temperature control, security and maintenance through a variety of mobile computing devices such as mobile devices and computers.

Regionally, North America will lead the smart buildings market
during the forecast period.
The growth of the North American market can be attributed to the region witnessing the emergence of the latest smart building solutions that utilize new technologies such as IoT, big data, cloud computing, data analytics, deep learning, and artificial intelligence to save costs
.
In addition, energy, reducing operating expenses, improving occupant comfort and meeting increasingly stringent global regulations and sustainability standards
.

Among them, the United States and Canada are countries
that have made outstanding contributions to technological development in the region.
For example, the United States is investing heavily in smart building measures, such as building control and building systems integration to improve the utilization of energy efficiency and energy storage and provide smarter, safer, and more sustainable buildings, while the Canadian government is taking initiatives to support Canada's commitment to protect the environment and its resources
by making federal buildings more energy efficient, reducing greenhouse gas emissions, and advancing the development of smart buildings.