DUBLIN, June 14, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Smart Buildings Market 2017-2021" report to their offering.
The global smart buildings market to grow at a CAGR of 11.67% during the period 2017-2021.
The report, Global Smart Buildings Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is growing concept of BIoT. Smart building is the integration of all standalone automated systems with additional support features such as cloud integration. An individual automated system generates information via smart sensors and actuators and integrates the processed information with building management control system.
According to the report, one of the major drivers for this market is increasing demand to conserve energy. According to U.S. Energy Information Administration, energy consumed by the building sector, which comprises residential and commercial buildings, accounts for around 20% of the total energy consumption and is expected to increase at an average of around 1.5% from 2012 to 2040. Non-OECD countries will account for double growth compared with OECD nations. More disposable income and modernization are adding to the increasing consumption of energy.
Further, the report states that one of the major factors hindering the growth of this market is interoperability challenge. The upgrade of building automation to the smart building is the biggest challenge for the smart building industry. Most BMS have been deployed a decade ago and are not compatible to be upgraded with smart tools. Thus, they need to be replaced, which increases the cost of implementation of smart systems and deters the adoption of smart buildings in old structures.
- Schneider Electric
- Johnson Controls
- United Technologies
Other prominent vendors
- Bosch Security Systems
- Delta Controls
- Verdigris Technologies
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by solutions
Part 07: Market segmentation by product
Part 08: Geographical segmentation
Part 09: Decision framework
Part 10: Drivers and challenges
Part 11: Market trends
Part 12: Vendor landscape
Part 13: Key vendor analysis
For more information about this report visit http://www.researchandmarkets.com/research/ffw3dc/global_smart
Laura Wood, Senior Manager
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SOURCE Research and Markets