Intelligent Building Market Leading Players by 2024: ABB, Cisco Systems, Inc., Delta Controls, Honeywell International Inc., Intel Corporation, Johnson Controls, Legrand, Schneider Electric, Siemens AG, and United Technologies Corporation

Increase in demand for new energy efficient interventions, growth for building automation and control systems, extensive IoT penetration in building management systems, and favorable industry standards & regulations regarding smart buildings facilitate the growth in the global intelligent building market. However, high initial cost and complicated interoperability between different systems and devices for management of infrastructure restrict the market growth.

Based on type, the intelligent security system segment led the intelligent building market in 2017 and is projected to maintain its dominance in the future. However, the building energy management system segment is expected to witness the highest growth, owing to its increased adoption due to different initiatives taken by countries to reduce the carbon emission and for energy conservation.

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Allied Market Research published a report, titled, Intelligent Building Market by Component, Type, and End User: Global Opportunity Analysis and Industry Forecast, 2017–2024. The report states that the global intelligent building market generated $12.37 billion in 2017, and is expected to garner at $42.64 billion by 2024, with a CAGR of 19.6% from 2018 to 2024.

Europe generated the highest revenue in 2017; however, the Asia-Pacific segment is anticipated to witness the fastest growth registering a CAGR of 23.2% during the forecast period.

The global intelligent building market is segmented into component, type, end user, and region. Based on component, the market is classified into hardware, software, and service. Based on type, the market is divided into intelligent security system, building energy management system, infrastructure management system, and network management system. Based on end user, it is bifurcated into commercial, industrial, and residential. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Increased need for energy efficiency, standards, and regulations of the supportive industry, and development in the market for smart cities driving the global intelligent evacuation system market share. However, high initial investment is expected to hamper the market growth during the forecast period.

Key Findings of the Intelligent Building Market:

• The services segment is expected to exhibit significant increase in the global intelligent building market during the forecast period.
• Based on type, the intelligent security system segment generated the highest revenue in 2017.
• In 2017, the commercial segment accounted for the highest revenue among the other end user.
• Europe generated the highest revenue in 2017.
• Asia-Pacific is projected to exhibit substantial growth during the forecast period.

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Some of the key players operating in the intelligent building market that are profiled in the report include ABB, Cisco Systems, Inc., Delta Controls, Honeywell International Inc., Intel Corporation, Johnson Controls, Legrand, Schneider Electric, Siemens AG, and United Technologies Corporation.

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