Impact of Existing and Emerging Smart Buildings Market Trends And Forecast 2016-2024
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This market is relatively new, which leads it to be subjected to certain threats – all of these barriers to growth are documented in detail in this market research report. We also offer an overview of the regulatory environment and other rules pertaining to smart cities in general, and smart buildings in particular. Market forecasts are provided on the basis of revenue and by technology/software and hardware that is integrated in smart buildings.
Overview of the global smart buildings market
That the construction market will largely be focused on Asia over the next decade (or more) is a well-known fact. However, the future of the construction market lies in smart buildings. A smart building incorporates real-time systems for managing the functioning of a building via a single interface. Smart buildings rely heavily on the use of hardware and software that can not only make the building operate more efficiently, but also make improve its life-span by tracking problems and alerting residents of the same. This is enabled via the installation of building automation systems (BAS) and networking technologies. BAS is the largest segment within the smart buildings market, by market size.
Based on building systems that can be automated, the smart buildings market is classified as: building communication systems, parking management, plumbing and water management, and elevator and escalator management systems.
The growth of the smart buildings market will be supported by a widespread movement for the reduction of CO2 emission. This market will also witness growth on account of an increasing need for security in both commercial and residential buildings.
Segmentation of the global smart buildings market
The market research report on smart buildings segments the overall market by type and application.
By type, the smart buildings market is segmented as: building energy management system (BEMS), physical security system, building communication systems, plumbing and water management system, parking management systems, and elevators and escalators management system.
By application, the smart buildings market is classified as: residential buildings, commercial buildings, hospitality, airports, institutional, industrial, and others.
Companies mentioned in the global smart buildings market research report
Key market participants that have been profiled in this market research report include: 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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