According to recent
market research report on "Smart Building Market by Type (Building Automation Software,
Services), Building Type (Intelligent Security System, Building Energy Management
System, Infrastructure Management, and Network Management System), and Region -
Global Forecast to 2022",
The smart building market is expected to grow from an estimated USD 7.42
Billion in 2017 to USD 31.74 Billion by 2022, at a Compound Annual Growth Rate
(CAGR) of 33.7% from 2017 to 2022.
The market is
primarily driven by the growing demand for integrated security and safety
systems and increasing government initiatives for smart building projects.
73 - Tables
33
- Figures
126
- Pages
Based on type, the
services segment is expected to witness the highest growth rate during the
forecast period
Based on type, the
services segment is projected to grow at the highest CAGR during the forecast
period. This is due to the reason that service providers help in implementing
intelligent automation and technologies for the efficient operation and
maintenance of buildings in a cost-effective manner. The services included in
the smart building market study are training & consulting, integration, and
support offered by various vendors in this market. These services are
considered as added offerings from technology vendors and services providers in
the smart infrastructure ecosystem, which enhance the deployment and usage of
solutions at end user premises.
Based on building
type, the residential building segment is expected to grow at the highest CAGR
during the forecast period
Based on building
type, the residential building segment is expected to grow at the highest CAGR
due to the ability of communication standards and protocols to integrate
various control devices and minimize the use of wires due to the emergence of
wireless technologies.
Based on region,
Europe is expected to account for the largest market share in the smart
building market during the forecast period from 2017 to 2022
Europe is expected
to account for the largest market share during the forecast period due to the
increased initiatives by the region’s governments to build smart and
intelligent structures. Also, the increase in the adoption of energy management
as well as security solutions has led to the growth of the smart building
market across regions.
The report
encompasses the competitive landscape, which presents the positioning of 25 key
vendors of smart building solutions and services, based on their product
offerings and business strategies. Some of the major solution and service
vendors include the ABB Group (Switzerland), Siemens AG (Germany), Schneider
Electric (France), Cisco Systems, Inc. (US), International Business Machines
Corporation (US), Delta Controls (Canada), Johnson Controls (US), Honeywell
International Inc. (US), United Technologies Corporation (US), Legrand
(France), BuildingIQ (US), Echelon Corporation (US), Hitachi, Ltd. (Japan), and
Panasonic Corporation (Japan) among others.
Contact:
Mr. Rohan
MarketsandMarkets™
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States
1-888-600-6441
Email: sales@marketsandmarkets.com
Mr. Rohan
MarketsandMarkets™
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States
1-888-600-6441
Email: sales@marketsandmarkets.com
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