Smart Building Market Expected To Cross USD 25 Billion with A Staggering CAGR of 34.3%By 2022.

Market Research Future published a half cooked research report on “Global Smart Building Market Research Report- Forecast to 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2022.

Industry Study

The Global Smart Building Market is expected to cross USD 25 Billion by the end of the forecasted period and is expected to show a staggering growth at CAGR of 34.3% during 2016 to 2022, predicts the Market Research Future in one of its recently published study report - “Global Smart Building Market”

Smart buildings are those structures that use automated processes to control heating, ventilation, air conditioning, lighting, security and other systems. Such building systems have gained popularity over the years which have further led to the increased demand and consumption of the same.                Smart buildings deliver useful building services that make the operations productive at the lowest cost and eco-friendly systems.

The Staggering growth of the Global Smart Building Market is owing to the increasing need for maintaining the robust security level, monitor activities, and control access across the building types and increasing concern for reducing carbon footprints and energy waste across the various building types, confirms the MRFR research analyst while commenting upon this deep diving study report, presented through more than 100 market data tables and figures and widely spread over 121 pages.

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Industry- Key Players

The Report identifies the following corporations as the key players in the Global Smart Building Market – Cisco Systems Inc., ABB Group, International Business Machines (IBM) Corporation, Control4 Corporation, Honeywell International Inc., Emerson Electric Co., United Technologies Corporation.

Other prominent players of the market include Schneider Electric SE, Siemens AG, Delta Controls, Johnson Controls International PLC, Leviton Manufacturing Co. Inc., United Technologies Corporation, and BuildingIQ.

 Industry- Divisions

The highly application based Global Smart Building Market is segmented in to 3 dynamics for the convenience of the report and easier understanding

Segmentation by Automation Type comprising energy management, intelligent security systems, infrastructure management & others.
Segmentation by Application comprising Residential, Commercial, Industrial and Infrastructure
Segmentation by Region comprising the geographic regions North America, Europe, APAC & RoW
Synopsis & Scenario

The global Smart Building market is driven by the need for energy efficient buildings and increased government initiatives. Increased awareness about CO2 emissions has augmented the demand for smart buildings globally. Furthermore, the increasing government initiatives and investment in reducing CO2 emissions have fueled the market of smart buildings. The global Smart Building market is expected to cross USD 25 Billion by the end of the forecasted period and is expected to show a staggering growth at CAGR of 34.3% from 2016 to 2022.

It is expected that the Global Smart Building Market will advance with higher growth rate as compared to previous years. However the current challenge for the market is the availability of the technology and hardware in the remote areas.

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Regional Analysis

APAC dominates the global smart building market with its fast growing market worldwide. The region is expected to show rapid infrastructural growth. With lot of investments in the regions of China and India and government initiatives, further has augmented the market for Smart Building. Europe is expected to hold a large share followed by North America and Rest of the world.

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This release was published on openPR.