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.
Browse and in-depth TOC
on “Smart Building Market”
73 - Tables
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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.
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Mr. Rohan
MarketsandMarkets™
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Suite 2175, Seattle,
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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