Market Share of Smart Building Industry
The smart buildings market is fragmented, with a presence of reputable global and national companies worldwide. The market is expected to be driven by customizations and modern technologies to attract end users. Suppliers are mainly focused on providing innovative solutions and products that can optimize energy consumption and meet high levels of building automation. Furthermore, companies are involved in various strategies to gain a competitive edge. Some of the major players in the market are Honeywell International Inc., Siemens AG, ABB Ltd, Schneider Electric SE, and IBM Corporation.
- In July 2023, Siemens partnered with PRODEA Investments, one of the real estate investment companies in Greece, to implement Building X. Building X is a Siemens digital building platform.
- In April 2023, Obayashi Corporation and Hitachi Solutions Ltd incorporated Oprizon Ltd, a joint venture for providing smart building-related services, based on the Joint Venture Agreement executed in January 2023, to become the leading smart building service provider and started operation in April 2023.
Smart Building Market Leaders
Honeywell International Inc.
Siemens AG
Schneider Electric SE
IBM Corporation
ABB Ltd
*Disclaimer: Major Players sorted in no particular order
