Smart Building Sensors Market to witness Huge Expansion by 2028 with Cisco Systems, Inc., Honeywell International Inc.,
Increasing advancements in sensing technology and rising adoption of smart security solutions are some key factors driving market revenue growth
VANCOUVER, BC, CANADA, May 27, 2022 /EINPresswire.com/ -- 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.
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The report also discusses the key players involved in the market such as ๐๐ข๐ฌ๐๐จ ๐๐ฒ๐ฌ๐ญ๐๐ฆ๐ฌ, ๐๐ง๐., ๐๐จ๐ง๐๐ฒ๐ฐ๐๐ฅ๐ฅ ๐๐ง๐ญ๐๐ซ๐ง๐๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐., ๐๐จ๐ก๐ง๐ฌ๐จ๐ง ๐๐จ๐ง๐ญ๐ซ๐จ๐ฅ๐ฌ ๐๐ง๐ญ๐๐ซ๐ง๐๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐๐., ๐๐๐ก๐ง๐๐ข๐๐๐ซ ๐๐ฅ๐๐๐ญ๐ซ๐ข๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฌ ๐๐๐, ๐๐ง๐ญ๐๐ฅ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ข๐จ๐ง, ๐๐ฉ๐๐๐๐ฐ๐๐ฅ๐ฅ ๐๐ง๐ญ๐๐ซ๐ง๐๐ญ๐ข๐จ๐ง๐๐ฅ, ๐๐ฎ๐๐ฐ๐๐ข ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐๐ฌ ๐๐จ. ๐๐ญ๐, ๐๐ข๐๐ฆ๐๐ง๐ฌ ๐๐, ๐๐๐ ๐๐ญ๐., ๐๐ง๐ ๐๐๐ซ๐๐ข๐ ๐ซ๐ข๐ฌ ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐๐ฌ, ๐๐ง๐.
and others as well as new entrants in the market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.
The study finds that how on certain account threats and challenges can act as a roadblock for the business. A thorough evaluation of the Smart Building Sensors market in the light of macro-environment such as social, political, economical as well as technological environment add granularity to the overall research. In addition, the study produces real-time data on vital aspects including sales, profits, gross margin and growth prospects to show how going forward the business will witness a substantial upswing.
Further key findings from the report suggest
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.
Read more on the global Smart Building Sensors market report at: https://www.emergenresearch.com/industry-report/smart-building-sensors-market ย
The report further segments the global Smart Building Sensors market on the basis of product types and applications and provides insights into key factors influencing the revenue growth of the segments.
Emergen Research has segmented global smart building sensors market on the basis of component, type, application, and region:
Component Outlook (Revenue, USD Billion; 2018โ2028)
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; 2018โ2028)
Temperature Sensors
Humidity Sensors
Motion/Occupancy Sensors
Contact Sensors
Gas/Air Quality Sensors
Electrical Current Monitoring Sensors
Application Outlook (Revenue, USD Billion; 2018โ2028)
Residential
Commercial
Industrial
ย Major Regions Covered in the Smart Building Sensors Market Report:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Key Reasons to Buy This Report:
The report presents a thorough examination of the Smart Building Sensors market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
The report is inclusive of an in-depth study of the industry variables, manufacturersโ value chain, sales volume, market share, competitive landscape, and effective business tactics.
The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.
Thank you for reading our report. Customization of the report is available according to the requirements of clients. In case of further queries about the report, do get in touch with us. Our team will make sure your report is tailored according to your needs.
Look Over transcripts provided by Emergen Research ย
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Smart building sensors market size reached USD 6.82 Billion in 2020