North America Smart Building Market, Building Energy Management System by Component, 2018-2030 (USD Million)

Year HARDWARE SOFTWARE SERVICES
2018 $ 5954.4 $ 1411.7 $ 932.1
2019 $ 6797.4 $ 1628.8 $ 1083.9
2020 $ 6062.2 $ 1468.2 $ 984.7
2021 $ 7491.7 $ 1853.3 $ 1171.1
2022 $ 9122.5 $ 2280.9 $ 1452.7
2023 $ 10499.0 $ 2653.4 $ 1703.2
2024 $ 12596.7 $ 3218.2 $ 2081.8
2025 $ 14471.7 $ 3737.5 $ 2436.8
2026 $ 17331.8 $ 4525.4 $ 2973.6
2027 $ 19872.2 $ 5246.0 $ 3474.2
2028 $ 23751.1 $ 6339.7 $ 4231.5
2029 $ 27171.8 $ 7334.0 $ 4933.5
2030 $ 32400.2 $ 8843.6 $ 5995.7
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North America Smart Building Market, Building Energy Management System by Component, 2018-2030 (USD Million)

Synopsis
The above chart is North America Smart Building Market, Building Energy Management System by Component, 2018-2030 (USD Million)

Market Dynamics

the demand for smart buildings in north america has been increasing in recent years. this rise in demand can be attributed to various factors, including the increasing focus on energy efficiency, sustainability, and the adoption of advanced technologies in the construction industry. one of the major drivers of the north america smart building market is the growing awareness and concern for energy conservation. with the rising concerns about climate change and greenhouse gas emissions, governments and businesses are actively seeking ways to reduce their carbon footprint. smart buildings offer innovative solutions for energy management and conservation, making them a popular choice among environmentally conscious individuals and organizations. another key factor contributing to the demand for smart buildings in north america is the increasing adoption of advanced technologies. the use of technologies such as the internet of things (iot), artificial intelligence (ai), and cloud computing has enabled the development of smarter and more efficient buildings. these technologies allow for real-time data monitoring and control, leading to improved energy management, increased operational efficiency, and enhanced occupant comfort. the demand for smart buildings in north america is also being driven by the need for sustainable and green buildings. smart building systems can be integrated with renewable energy sources such as solar panels, wind turbines, and geothermal heat pumps, reducing the dependency on traditional energy sources. this not only contributes to a more sustainable environment but also leads to cost savings for building owners and operators. building energy management systems (bems) are an essential component of smart buildings and contribute significantly to their demand in north america. bems use advanced analytics and automation to monitor, control, and optimize energy usage in buildings. they can also be integrated with other building systems such as lighting, hvac, and security, further enhancing energy efficiency and operational efficiency. apart from bems, other components such as lighting systems, hvac systems, and security and access control systems are also integral to smart buildings in north america. these components not only contribute to energy efficiency but also improve the overall functionality and comfort of buildings. in conclusion, the demand for smart buildings in north america is being driven by various factors such as energy conservation, advanced technologies, sustainability, and efficiency. bems and other components play a crucial role in making these buildings smarter, more efficient, and sustainable. with the increasing focus on sustainable development and the adoption of advanced technologies, the demand for smart buildings is expected to continue to grow in the coming years.

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