Smart Building Market Growing at 34% CAGR to Hit $24.73 Billion by 2021
Sep 2, 2016
The smart building market size is expected to reach USD 24.73 billion by 2021, at a CAGR of 34.0% from 2016 to 2021 dominated by APAC while integrated security system segment is projected to lead the global market
Pune, India - September 2, 2016 /MarketersMedia/ —
The market growth for smart building is driven by the increasing need for integrated security and safety systems and increasing concern for reducing carbon footprints and energy waste across the various building types.
The integrated security system segment is expected to lead the global building automation software market between 2016 and 2021, due to the increasing need for maintaining the robust security level, monitor activities, and control access across the building types.
Complete report on global smart building market spread across 183 pages, profiling 11 companies and supported with 79 tables and 51 figures is now available at http://www.rnrmarketresearch.com/smart-building-market-building-automation-systems-physical-security-building-energy-management-systems-bems-building-communication-systems-parking-management-water-management-networking-wor-market-report.html .
With regards to the geographic analysis, Europe is likely to benefit from its technological advancements and a large number of smart city initiatives being undertaken in the region, which are already underway.
Asia-Pacific (APAC) is expected to lead the smart building market by region between 2016 and 2021. The growth can be attributed to hyper urbanization and industrialization and the increasing number of government initiatives.
The various key smart building vendors profiled in this report such as ABB Group (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), Cisco Systems, Inc. (U.S.), IBM Corporation (U.S.), Delta Controls (U.S.), Johnson Controls (U.S.), Honeywell International, Inc. (U.S.), United Technologies Corporation (U.S.) and BuildingIQ (Australia). Request a discount on Smart Building Market by Building Automation Software (Intelligent Security Systems, Energy Management, Infrastructure Management), Building Type (Commercial, Residential, Government), Services (Professional and Managed) - Global Forecast to 2021 research report at http://www.rnrmarketresearch.com/contacts/discount?rname=112724 .
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up profile of primary discussion participants is given below:
By Company Type: Tier-1 (42%), Tier-2 (33%), and Tier-3 (25%) companies
By Designation: C-level (75%) and Manager Level (25 %).
By Region: North America (43%), Europe (29%), APAC (18%), and Rest of World (RoW) (10%).
On a related note, another research on Smart Home Market Global Forecast to 2022 says, the Smart Home market expected to grow at a CAGR of 14.07%. North Americas and Asia-Pacific are the major markets for smart homes. The significant advancements in the IoT market, increasing need of the consumer for convenience, safety and security, rising need for energy saving and low carbon emission-oriented solutions, and large number of manufacturers expanding their product portfolios are some of the major factors driving the growth of the smart home market worldwide. Companies like Honeywell International Inc., Legrand, Ingersoll-Rand plc, Johnson Controls Inc., Schneider Electric SE, Siemens AG, ABB Ltd., Acuity Brands, Inc., United Technologies Corporation, Samsung Electronics Co., Ltd., Nest Labs, Inc. and Crestron Electronics, Inc. have been profiled in this 249 pages research report available at http://www.rnrmarketresearch.com/smart-homes-market-by-products-security-access-lighting-entertainment-energy-management-systems-hvac-and-ballast-battery-pack-services-installation-repair-renovation-customization-market-report.html .
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