Global Smart Building Market worth USD 36.0 Billion by 2020 | Automation.com

Global Smart Building Market worth USD 36.0 Billion by 2020

Global Smart Building Market worth USD 36.0 Billion by 2020

Zion Research has published a new report titled “Smart Building (Building Energy Management System, Physical Security System, Building Communication Systems, Plumbing & Water Management System, Parking Management Systems, and Elevators & Escalators Management System) Market for Residential, Commercial, Hospitality, Airports, Institutional, Industrial, and Other Buildings: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 - 2020”. According to the report, the global smart building market was valued at approximate USD 7.0 billion in 2014 and is expected to reach approximately USD 36.0 billion by 2020, growing at a CAGR of slightly over 30% between 2015 and 2020.

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Smart or intelligent buildings are buildings that through their physical design and IT installations are responsive, flexible and adaptive to changing needs from its users and the organizations that inhabit the building during its life time. The building will supply services for its inhabitants, its administration and operation & maintenance. The intelligent building will accomplish transparent 'intelligent' behavior, have state memory, support human and installation systems communication, and be equipped with sensors and actuators. The smart building market is driven by various factors such as rapid pace of urbanization across the world, low operating cost and security of building and its inhabitants. Increasing support and favorable government regulations is also expected to mobilize the global smart buildings market. Additionally, smart buildings plays crucial role in energy conservation. However, high cost of smart buildings is expected to be major constraint for this industry.

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On the basis of types the global smart building market has been segmented into building energy management system, physical security system, building communication systems, plumbing and water management system, parking management systems and elevators & escalators management system. Building energy management systems holds major share in smart buildings market. Building energy management systems reduce overall energy consumption and cost. Residential buildings, commercial buildings, hospitality, airports, institutional, industrial, and others are the key application segments of smart building market. Commercial building segment dominated the smart building market in 2014. Europe was the largest regional market for smart building in 2014. Strong demand from Germany, UK and France has been resulted into growing demand for smart buildings in the region. Europe was followed by Asia pacific and North America. Asia Pacific is projected to be second highest growing region due to rapidly increasing urbanization.

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Some of the key players in the global smart building market such as Johnson Controls, ABB, General Electric, CISCO, Hewlett-Packard, Accenture, Ingersoll Rand Security Technologies, Delta Controls, Emerson Electric, Honeywell, Hitachi, IBM, Schneider Electric, Johnson Controls, TYCO International and Siemens. About Us Zion Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Zion Research experienced team of Analysts, Researchers, and Consultants uses proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge. Each Zion Research syndicated research report covers a different sector — such as pharmaceuticals, chemical, energy, food and beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports strive to serve the overall research requirement of clients. Contact US: Joel John 3422 SW 15 Street,Suit #8138 Deerfield Beach,Florida 33442 United States Toll Free: +1-855-465-4651 (USA-CANADA) Tel: +1-386-310-3803 Email: [email protected] Website: http://www.marketresearchstore.com

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