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Intelligent Building Market Size 2018 by Top Key Players and Application with Trend and Growth by 2024 Forecasts

11-22-2018 10:32 AM CET | IT, New Media & Software

Press release from: Allied Market Research

Intelligent Building Market Size 2018 by Top Key Players

An Intelligent Building Market is the integration of building, technology, and energy systems. Building automation systems include building automation, life safety, telecommunications, user systems, and facility management systems. Intelligent buildings deliver actionable information about a building or space inside a building to permit the building owner or occupant to manage the building or space. The global intelligent building market was valued at $ 12,371 million in 2017, and is projected to reach $ 42,649 million by 2024, growing at a CAGR of 19.6% from 2018 to 2024.

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The rise in need for the energy efficient interventions in infrastructure industry, increased market for Building automation and control system, and growth in penetration of Internet of Things (IoT) in the building management system are some of the major factors that propel the growth of the intelligent building market. In addition, rise in the development of smart city projects across the globe is expected to provide promising opportunities for intelligent building market.

However, complexity of interoperability between different connected building automation systems and high investment cost required for developing an intelligent building restrain the intelligent building market growth.

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Building energy management system is expected to grow at a significant pace during the forecast period. The commercial segment led the market in 2017 and is expected to dominate in the near future. Furthermore, Europe is expected to dominate the overall intelligent building market during the forecast period, as it experiences the highest demand for intelligent buildings.

The report focuses on the growth prospects and restraints of the market based on the analysis of regional trends. The study provides Porters Five Forces analysis of the industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the intelligent building market growth.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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