Smart Building Market by Component (Solution, Services) Building Type (Residential, Commercial, Industrial) and Region (North America, Asia Pacific, Europe, Latin America, Middle East, and Africa. Global Trends and Forecast from 2022 to 2029.

Published on: Jun 2023
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Market Size	CAGR	Dominating Region
USD 263.0 billion by 2029	9.2 %	North America

by Component	by Building Type	by Region
Solution Services	Residential Commercial Industrial	North America Asia Pacific Europe South America Middle East and Africa

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Smart Building Market Overview

The global smart building market is expected to grow at 9.2 % CAGR from 2020 to 2029. It is expected to reach above USD 263.0 billion by 2029 from USD 65.7 billion in 2020.

A smart building is a building that incorporates advanced technologies and automation systems to make the building more efficient, comfortable, and secure for its occupants. Smart buildings use sensors, data analytics, and communication networks to monitor and control various building systems, such as lighting, heating, ventilation, air conditioning, security, and energy management.

Smart buildings use sensors and analytics to optimize energy use and reduce waste. For example, they can adjust lighting and temperature based on occupancy levels, time of day, and weather conditions. Smart buildings use automation systems to control and monitor various building systems, such as lighting, HVAC, and security. This can help to reduce manual intervention and improve efficiency. Smart buildings are connected to the internet, allowing for real-time monitoring and remote control of building systems. This can also enable better data collection and analysis. Smart buildings often incorporate sustainable design principles and technologies, such as green roofs, solar panels, and rainwater harvesting systems.

Smart buildings use advanced technologies to create a more comfortable and productive environment for occupants. For example, they can adjust lighting and temperature based on individual preferences, and provide real-time feedback on indoor air quality. Overall, smart buildings are designed to improve the efficiency, sustainability, and comfort of buildings, while also reducing operating costs and improving the overall building performance. Smart houses are built to increase resident comfort and safety, permit remote management of many home equipment, automated home maintenance routines, track energy consumption, and manage home security systems.

The fast adoption of smart buildings is being driven by the increased demand for better building (and building premises) utilisation as well as improved resource management in metropolitan areas. Additionally, the desire for public safety and security is driving growth in the market for smart buildings market.

ATTRIBUTE	DETAILS
Study period	2020-2029
Base year	2021
Estimated year	2022
Forecasted year	2022-2029
Historical period	2018-2020
Unit	Value (USD Billion)
Segmentation	By Component, By Building Type, By Region
By Component	Solution Services
By Building Type	Residential Commercial Industrial
By Region	North America Asia Pacific Europe South America Middle East Asia & Africa

Smart buildings use advanced technologies to optimize energy consumption, reduce wastage, and save costs on utilities. This is particularly attractive to building owners and facility managers who are always looking for ways to reduce operational costs. Smart buildings are designed to reduce their environmental impact through features such as renewable energy sources, energy-efficient lighting, and advanced heating, ventilation, and air conditioning (HVAC) systems. This is an important consideration for many building owners who want to promote sustainability and reduce their carbon footprint. Smart buildings provide better comfort and convenience for occupants. They can automatically adjust temperature, lighting, and other features based on user preferences, occupancy patterns, and other factors. This enhances the user experience and can improve productivity and satisfaction. Many governments are introducing regulations to reduce carbon emissions and promote sustainable development. Smart buildings help building owners and facility managers to comply with these regulations and avoid penalties.

The development of new technologies such as the Internet of Things (IoT), artificial intelligence (AI), and cloud computing have enabled the creation of smart building systems that are more efficient, cost-effective, and user-friendly than ever before. This has led to an increase in demand for smart building solutions. These are the factors that help to propel the smart building market growth.

Smart Building Market |Exactitude Consultancy — Smart Building Market | Exactitude Consultancy

Smart Building Market Segment Analysis

The global Smart Building market is segmented based on component building type and region.

By component, the services segment is dominating the market. Smart building systems involve complex technologies such as IoT, AI, and cloud computing. Building owners and facility managers may lack the expertise required to design, install, and maintain these systems. Service providers with specialized knowledge and experience are therefore needed to help them implement and manage smart building solutions. Smart building solutions must be customized to meet the specific needs of each building and its occupants. Service providers can offer tailor-made solutions based on factors such as building size, occupancy patterns, and energy usage. This ensures that the smart building system is optimized for maximum efficiency and cost savings. Smart building systems require ongoing maintenance and support to ensure optimal performance. Service providers can offer regular maintenance, upgrades, and troubleshooting services to ensure that the system runs smoothly and any issues are quickly resolved. Service providers can offer a range of services such as consulting, design, installation, and maintenance, which can generate recurring revenue streams. This business model is attractive to investors and can provide a steady stream of income over the life of the smart building system. Building owners and facility managers are looking for competitive advantages in terms of energy efficiency, sustainability, and user experience. Smart building systems can provide these advantages, and service providers are well-positioned to offer the expertise and support required to implement them.

Based on building type commercial building segment is dominating in the smart building market. Commercial buildings consume a significant amount of energy, and building owners and facility managers are looking for ways to reduce energy usage and lower operating costs. Smart building solutions can optimize energy usage by automatically adjusting lighting, heating, ventilation, and air conditioning based on occupancy patterns and user preferences. Many commercial building owners and facility managers are committed to reducing their environmental impact and promoting sustainability. Smart building solutions can help achieve these goals by incorporating renewable energy sources, improving indoor air quality, and reducing carbon emissions.

Smart building solutions can help reduce operational costs by optimizing energy usage, automating processes, and reducing maintenance costs. This is particularly attractive to commercial building owners and facility managers who are looking for ways to maximize profitability. Commercial buildings are designed to attract and retain tenants, and smart building solutions can enhance the user experience by providing features such as automated lighting, temperature control, and security systems. Many governments are introducing regulations to reduce carbon emissions and promote sustainable development. Smart building solutions can help building owners and facility managers comply with these regulations and avoid penalties.

Smart Building Market Key Players

The Smart Building market key players include Cisco, IBM, Honeywell, Siemens, Johnson Controls, Huawei, Intel, PTC, Abb, 10 Hitachi, Schneider Electric, Telit, Legrand, Bosch, KMC Controls, Verdigris Technologies, Aquicore, 75f, Buildingiq, Entouch, Gaia, Softdel, Coppertree Analytics, Spaceti, Igor, Efacility, Spacewell.

Industry News:

11th August 2022 – Johnson Controls and Microsoft Beijing Campus worked together to continuously renovate the building and optimize operations in August 2022, resulting in energy savings of 27.9% and a 98% uptime guarantee for essential equipment.

In February 2022, Legrand and URC, a reputable provider of smart home automation and control systems, joined partners to expand Smart Home Control. Through this arrangement, the companies work together to provide seamless control of Legrand’s Vantage lighting and temperature solutions.

Who Should Buy? Or Key stakeholders

Smart Building Supplier
Raw Materials Manufacturers
Research Organizations
Investors
Regulatory Authorities
Others

Smart Building Market Regional Analysis

The smart building market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).

North America: includes the US, Canada, Mexico
Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
South America: includes Brazil, Argentina and Rest of South America
Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA

North America accounted for the largest markets in the smart building market. North America has been at the forefront of technological advancements in the smart building industry. The region is home to many leading technology companies, which have developed advanced smart building solutions based on the Internet of Things (IoT), artificial intelligence (AI), and cloud computing.

The government in North America has taken several initiatives to promote the adoption of smart building solutions. For instance, the US government introduced the Energy Policy Act of 2005, which provides tax incentives for the installation of energy-efficient equipment and systems in commercial buildings. This has encouraged building owners and facility managers to invest in smart building solutions to reduce energy consumption and lower operating costs. North America is one of the world’s largest and fastest-growing economies. The region’s booming commercial sector has driven the demand for smart building solutions, as building owners and facility managers look for ways to increase efficiency, productivity, and profitability. North America has a high rate of urbanization, with a large proportion of the population living in urban areas. This has created a high demand for smart building solutions, as building owners and facility managers seek to optimize energy usage, improve indoor air quality, and enhance the user experience. There is a growing awareness in North America about the need to reduce carbon emissions and promote sustainable development. Smart building solutions can help achieve these goals by incorporating renewable energy sources, reducing energy consumption, and improving indoor air quality. This has further driven the adoption of smart building solutions in the region.

Key Market Segments: Smart Building Market

Smart Building Market by Component, 2020-2029, (USD Billion)

Solution
Services

Smart Building Market by Building Type, 2020-2029, (USD Billion)

Residential
Commercial
Industrial

Smart Building Market by Region, 2020-2029, (USD Billion)

North America
Asia Pacific
Europe
South America
Middle East and Africa

Important Countries In All Regions Are Covered.

Key Question Answered

What is the current size of the smart building positioning market?
What is the expected growth rate of the smart building positioning market over the next 5 years?
Who are the major players in the automotive high precision positioning market and what is their market share?
What are the end-user industries driving demand for the market and what is their outlook?
What are the opportunities for growth in emerging markets such as the Asia-pacific, the middle east, and Africa?
How is the economic environment affecting the automotive high precision positioning market, including factors such as interest rates, inflation, and exchange rates?
What is the expected impact of government policies and regulations on the smart building positioning market?
What is the current and forecasted size and growth rate of the global smart building positioning market?
What are the key drivers of growth in the smart building positioning market?
Who are the major players in the market and what is their market share?
What are the distribution channels and supply chain dynamics in the smart building positioning market?
What are the technological advancements and innovations in the smart building positioning market and their impact on product development and growth?
What are the regulatory considerations and their impact on the market?
What are the challenges faced by players in the smart building positioning market and how are they addressing these challenges?
What are the opportunities for growth and expansion in the smart building positioning market?
What are the service offerings specifications of leading players in the market?
What is the pricing trend of smart building positioning in the market?

INTRODUCTION
1. MARKET DEFINITION
2. MARKET SEGMENTATION
3. RESEARCH TIMELINES
4. ASSUMPTIONS AND LIMITATIONS
RESEARCH METHODOLOGY
1. DATA MINING
  1. SECONDARY RESEARCH
  2. PRIMARY RESEARCH
  3. SUBJECT-MATTER EXPERTS’ ADVICE
2. QUALITY CHECKS
  1. FINAL REVIEW
3. DATA TRIANGULATION
  1. BOTTOM-UP APPROACH
  2. TOP-DOWN APPROACH
  3. RESEARCH FLOW
4. DATA SOURCES
EXECUTIVE SUMMARY
MARKET OVERVIEW
1. GLOBAL SMART BUILDING MARKET OUTLOOK
  1. MARKET DRIVERS
  2. MARKET RESTRAINTS
  3. MARKET OPPORTUNITIES
2. IMPACT OF COVID-19 ON THE SMART BUILDING MARKET
3. PORTER’S FIVE FORCES MODEL
  1. THREAT FROM NEW ENTRANTS
  2. THREAT FROM SUBSTITUTES
  3. BARGAINING POWER OF SUPPLIERS
  4. BARGAINING POWER OF CUSTOMERS
  5. DEGREE OF COMPETITION
4. INDUSTRY VALUE CHAIN ANALYSIS
GLOBAL SMART BUILDING MARKET BY COMPONENT, 2020-2029, (USD BILLION)
1. SOLUTION
2. SERVICES
GLOBAL SMART BUILDING MARKET BY BUILDING TYPE, 2020-2029, (USD BILLION)
1. RESIDENTIAL
2. COMMERCIAL
3. INDUSTRIAL
GLOBAL SMART BUILDING MARKET BY REGION, 2020-2029, (USD BILLION)
1. NORTH AMERICA
  1. US
  2. CANADA
  3. MEXICO
2. SOUTH AMERICA
  1. BRAZIL
  2. ARGENTINA
  3. COLOMBIA
  4. REST OF SOUTH AMERICA
3. EUROPE
  1. GERMANY
  2. UK
  3. FRANCE
  4. ITALY
  5. SPAIN
  6. RUSSIA
  7. REST OF EUROPE
4. ASIA PACIFIC
  1. INDIA
  2. CHINA
  3. JAPAN
  4. SOUTH KOREA
  5. AUSTRALIA
  6. SOUTH-EAST ASIA
  7. REST OF ASIA PACIFIC
5. MIDDLE EAST AND AFRICA
  1. UAE
  2. SAUDI ARABIA
  3. SOUTH AFRICA
  4. REST OF MIDDLE EAST AND AFRICA

COMPANY PROFILES*

(BUSINESS OVERVIEW, COMPANY SNAPSHOT, PRODUCTS OFFERED, RECENT DEVELOPMENTS)

8.1. CISCO

8.2. IBM

8.3. HONEYWELL

8.4. SIEMENS

8.5. JOHNSON CONTROLS

8.6. HUAWEI

8.7. INTEL

8.8. PTC

8.9. ABB

8.10. HITACHI

LIST OF TABLES

TABLE 1 GLOBAL SMART BUILDING MARKET BY TYPE (USD BILLION) 2020-2029

TABLE 2 GLOBAL SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 3 GLOBAL SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 4 GLOBAL SMART BUILDING MARKET BY REGION (USD BILLION) 2020-2029

TABLE 5 NORTH AMERICA SMART BUILDING MARKET BY COUNTRY (USD BILLION) 2020-2029

TABLE 6 NORTH AMERICA SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 7 NORTH AMERICA SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 8 US SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 9 US SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 10 CANADA SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 11 CANADA SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 12 MEXICO SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 13 MEXICO SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 14 SOUTH AMERICA SMART BUILDING MARKET BY COUNTRY (USD BILLION) 2020-2029

TABLE 15 SOUTH AMERICA SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 16 SOUTH AMERICA SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 17 BRAZIL SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 18 BRAZIL SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 19 ARGENTINA SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 20 ARGENTINA SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 21 COLOMBIA SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 22 COLOMBIA SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 23 REST OF THE SOUTH AMERICA SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 24 REST OF THE SOUTH AMERICA SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 25 ASIA-PACIFIC SMART BUILDING MARKET BY COUNTRY (USD BILLION) 2020-2029

TABLE 26 ASIA-PACIFIC SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 27 ASIA-PACIFIC SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 28 INDIA SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 29 INDIA SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 30 CHINA SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 31 CHINA SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 32 JAPAN SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 33 JAPAN SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 34 SOUTH KOREA SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 35 SOUTH KOREA SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 36 AUSTRALIA SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 37 AUSTRALIA SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 38 SOUTH-EAST ASIA SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 39 SOUTH-EAST ASIA SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 40 REST OF ASIA PACIFIC SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 41 REST OF ASIA PACIFIC SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 42 EUROPE SMART BUILDING MARKET BY COUNTRY (USD BILLION) 2020-2029

TABLE 43 EUROPE SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 44 EUROPE SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 45 GERMANY SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 46 GERMANY SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 47 UK SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 48 UK SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 49 FRANCE SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 50 FRANCE SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 51 ITALY SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 52 ITALY SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 53 SPAIN SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 54 SPAIN SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 55 RUSSIA SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 56 RUSSIA SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 57 REST OF EUROPE SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 58 REST OF EUROPE SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 59 MIDDLE EAST AND AFRICA SMART BUILDING MARKET BY COUNTRY (USD BILLION) 2020-2029

TABLE 60 MIDDLE EAST AND AFRICA SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 61 MIDDLE EAST AND AFRICA SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 62 UAE SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 63 UAE SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 64 SAUDI ARABIA SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 65 SAUDI ARABIA SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 66 SOUTH AFRICA SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 67 SOUTH AFRICA SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

TABLE 68 REST OF THE MIDDLE EAST AND AFRICA SMART BUILDING MARKET BY COMPONENT (USD BILLION) 2020-2029

TABLE 69 REST OF THE MIDDLE EAST AND AFRICA SMART BUILDING MARKET BY BUILDING TYPE (USD BILLION) 2020-2029

LIST OF FIGURES

FIGURE 1 MARKET DYNAMICS

FIGURE 2 MARKET SEGMENTATION

FIGURE 3 REPORT TIMELINES: YEARS CONSIDERED

FIGURE 4 DATA TRIANGULATION

FIGURE 5 BOTTOM-UP APPROACH

FIGURE 6 TOP-DOWN APPROACH

FIGURE 7 RESEARCH FLOW

FIGURE 8 GLOBAL SMART BUILDING MARKET BY COMPONENT, USD BILLION, 2020-2029

FIGURE 9 GLOBAL SMART BUILDING MARKET BY BUILDING TYPE, USD BILLION, 2020-2029

FIGURE 10 GLOBAL SMART BUILDING MARKET BY REGION, USD BILLION, 2020-2029

FIGURE 11 PORTER’S FIVE FORCES MODEL

FIGURE 12 GLOBAL SMART BUILDING MARKET BY COMPONENT, USD BILLION, 20201

FIGURE 13 GLOBAL SMART BUILDING MARKET BY BUILDING TYPE, USD BILLION, 2021

FIGURE 14 GLOBAL SMART BUILDING MARKET BY REGION, USD BILLION, 2021

FIGURE 15 NORTH AMERICA SMART BUILDING MARKET SNAPSHOT

FIGURE 16 EUROPE SMART BUILDING MARKET SNAPSHOT

FIGURE 17 SOUTH AMERICA SMART BUILDING MARKET SNAPSHOT

FIGURE 18 ASIA PACIFIC SMART BUILDING MARKET SNAPSHOT

FIGURE 19 MIDDLE EAST ASIA AND AFRICA SMART BUILDING MARKET SNAPSHOT

FIGURE 20 MARKET SHARE ANALYSIS

FIGURE 21 CARRIER: COMPANY SNAPSHOT

FIGURE 22 CISCO: COMPANY SNAPSHOT

FIGURE 23 IBM: COMPANY SNAPSHOT

FIGURE 24 HONEYWELL: COMPANY SNAPSHOT

FIGURE 25 SIEMENS: COMPANY SNAPSHOT

FIGURE 26 JOHNSON CONTROLS: COMPANY SNAPSHOT

FIGURE 27 HUAWEI: COMPANY SNAPSHOT

FIGURE 28 INTEL: COMPANY SNAPSHOT

FIGURE 29 PTC: COMPANY SNAPSHOT

FIGURE 30 ABB: COMPANY SNAPSHOT

• What is the worth of global Smart Building market?

The global smart building market is expected to grow at 9.2 % CAGR from 2020 to 2029. It is expected to reach above USD 263.0 billion by 2029 from USD 65.7 billion in 2020.

• What is the size of the North America Smart Building Market?

North America held more than 35% of the Smart Building market revenue share in 2021. North America has been at the forefront of technological advancements in the smart building industry. The region is home to many leading technology companies, which have developed advanced smart building solutions based on the Internet of Things (IoT), artificial intelligence (AI), and cloud computing.

• What are some of the market's driving forces?

Increase in adoption of IoT-enabled BMS, growing in awareness of space utilization, growth in industry standards and regulations drives the smart building market growth.

• Which are the top companies to hold the market share in Smart Building market?

• What are the opportunities in the smart building market?

Development of the 5G technology, increase in the smart city trend, Government initiatives and incentives this factor creates more opportunities in the smart building market.

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