Press release
Smart Building Market will reach USD 36.0 Billion by 2020, Globally
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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.
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.
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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.
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.
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This report segments the global smart building market as follows:
Global Smart Building Market: Systems Segment Analysis
Building energy management system
Physical security system
Building communication systems
Plumbing and water management system
Parking management systems
Elevators and escalators management system.
Global Smart Building Market: Application Segment Analysis
Residential buildings
Commercial buildings
Hospitality
Airports
Institutional
Industrial
Others
Global Smart Building Market: Regional Segment Analysis
North America
U.S.
Europe
Germany
France
UK
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East and Africa
Read Report TOC: http://goo.gl/cE6W7Q
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