China Smart Building Market Size (2024 - 2029)

China Smart Building Market Analysis

The China Smart Building Market is expected to grow at a CAGR of 7.8% over the forecast period (2022 - 2027). The consumer's propensity to adopt security solutions is rising due to the pandemic scenario and the uncertainty of returning to normal life. The aspect of a 'smart building' is looking more practical in the 'new normal' post-COVID-19 in the country. It is not about efficiency or smart usages like smart options of switching on a luminaire or an HVAC, but the practical reality of ensuring fewer instances of touching, if not doing away altogether, off switches to switch on any appliance.

• A smart building automates its processes to control its infrastructure, lighting, security systems, heating, ventilation, and air conditioning systems. A smart building uses technology and assimilates it with the basic building infrastructure and other structural and equipment components to make buildings increasingly efficient, safer, sustainable, and reduce costs. The studied smart building solutions are part of the growing IoT and connected sensor ecosystem.
• Solutions, such as the Infrastructure Management System, Building Energy Management System, and Intelligent Security System, are currently being adapted for smart buildings. BEMS is an integrated and computerized system for monitoring and controlling energy-related building services, plants, and equipment such as HVAC systems and lighting.
• The adoption of smart technologies in the country could be accelerated by incentivizing the process and by setting up benchmarks. Smart technologies often incentivized through prescriptive utility energy efficiency programs include advanced occupancy and vacancy controls that work with lighting and HVAC systems, daylighting controls, smart power strips, smart plugs, and BMS.
• Moreover, the spike in energy consumption can be controlled by benchmarking. Property owners, facility operators, managers, and designers could use bench marketing to facilitate energy accounting, comparing a facility's energy use to similar facilities to assess opportunities for improvement and quantify/verify energy savings. Smart energy solutions have been adopted to meet the desired benchmark and reduce energy consumption.
• Moreover, the Chinese government frequently promotes smart city cooperation under its Digital Silk Road Initiative, a significant component of the Belt and Road Initiative (BRI). In ASEAN, cooperation is enhanced through the ASEAN-China Strategic Partnership Vision 2030, where China has pledged to support ASEAN's technology transformation initiatives, including the ASEAN ICT Master Plan 2020 and the ASEAN Smart City Network.
• Furthermore, recovery from COVID-19 further forces regional organizations to reimagine their operations for the next normal. Organizations across industries are adapting to emphasize digitalization and automation across their operations. Such changes are expected to impact the requirements for workforce skills and capabilities significantly. This will require two changes across the workforce: upskilling, in which staff gain new skills to help in their current roles, and reskilling, in which staff needs capabilities to take on different or entirely new functions.

China Smart Building Industry Segmentation

The study characterizes the smart building market based on the solution and building type. Solutions that automate and optimize the building's operations and performance are studied. A smart building is a building that automates its processes to control its infrastructure, lighting, security systems, heating, ventilation, air conditioning systems, and more.

A smart building uses technology to make buildings more efficient, sustainable, safer, and reduce costs. Smart building solutions are part of the growing IoT and connected sensor ecosystem. Further, key base indicators considered for the study are the adoption and penetration rate of smart solutions in homes, current trends, COVID-19, and several other key macroeconomic indicators.