DUBLIN--(BUSINESS WIRE)--The "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" report has been added to Research and Markets' offering.
The smart building market size is estimated to grow from USD 5.73 Billion in 2016 and to USD 24.73 Billion by 2021, at a CAGR of 34.0% from 2016 to 2021.
Some of the major factors that are driving the growth of the market include the growing government initiatives for the development of smart building projects, rising focus on green buildings, and evolution of building management IoT platforms. Furthermore, due to the rise in the demand for integrated and next generation security systems, evolution of cloud-based solutions, and increasing wave of smart cities, there are huge growth opportunities expected for the market in the next five years.
The integrated security system segment is expected to grow at the highest CAGR during the forecast period. This is due to the increasing need to maintain the robust security level, monitor activities, and control access across the various building types.
A few of the restraining factors that affect the growth of the market include huge initial cost of deployment, system integration complexities on legacy systems, and lack of end user awareness.
Companies Mentioned
- ABB Group
- Buildingiq, Inc.
- Cisco Systems, Inc.
- Delta Controls
- Flamencotech
- Honeywell International Inc.
- IBM Corporation
- Johnson Controls, Inc.
- Schneider Electric Se
- Siemens AG
-
United Technologies Corporation
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Smart Building Market Analysis, By Building Automation Software
8 Smart Building Market Analysis, By Service
9 Smart Building Market Analysis, By Building Type
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/23mmjv/smart_building
