AMR Forecasts an Expeditious Forecast of Intelligent Building Market: Europe will generate the highest revenue

Asia-Pacific intelligent building market is expected to grow at the highest CAGR, owing to rise in the number of smart city initiatives in developing economies such as India and China that follow the approach of energy efficiency and continuous adoption of the advanced technologies to function effectively according to the future demands. The global intelligent building market was valued at $12,371 million in 2017 and is projected to reach at $42.64 billion by 2024, growing at a notable CAGR from 2018 to 2024.

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Rise in need for new energy efficient interventions, increased market for Building automation and control systems, supportive industry standards and regulations toward smart buildings, and extensive IoT penetration in building management systems drive the growth of the global intelligent building market. However, high initial investment and complex interoperability between various systems and devices deployed for managing infrastructure hampers the intelligent building 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.

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.

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Prominent Key Players:

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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