A new sourcing and procurement report compiled by SpendEdge projects the smart buildings technology market to grow to USD $47.02 billion at a CAGR of 10.87% by 2026.
The report tracks major price trends in the smart building technology procurement market, offering key advisory and intelligence to help buyers identify and shortlist the most suitable suppliers for their smart building technology requirements. It helps market stakeholders under the most adopted procurement strategies by buyers across industries. It also highlights the effect of COVID-19 on the market.
The new report tracks the smart building technology market's changing competitive and vendor landscape with yearly forecasts till 2026. The analysis projects ABB, Johnson Controls International, and General Electric to emerge as the primary smart building technology suppliers by 2026.
According to the analyst, within the market at large:
The pressure from substitutes and a moderate level of threat from new entrants have resulted in the moderate bargaining power of suppliers. This makes it extremely important to get the pricing and pricing model right. Buyers should align their preferred pricing models for smart building technology with the wider industry and identify the cost-saving potential.
According to the analyst, the most widely adopted pricing models in the smart building technology market include: the fixed fee pricing model; volume-based pricing model; and cost-plus pricing model.
The new report provides a comprehensive overview of the global smart building technology spending outlook at a global as well as regional level. Current spending scenarios, growth outlook, incremental spending, and other key information are available individually for North America, South America, Europe, the Middle East and Africa, and APAC.
SpendEdge says procurement report helps buyers identify and shortlist the most suitable suppliers for their smart building technology market requirements via answers to following questions:
- Will there be an increase in the spend growth for smart building technology procurement?
- Am I engaging with the right suppliers?
- Which KPIs should I use to evaluate my incumbent suppliers?
- Which supplier selection criteria are relevant?
- What are the workplace computing devices category essentials in terms of SLAs and RFx?
- How much marketing budget should be set aside for geographical market expansion?
