Smart Building Market
Smart Building Market is expected to reach USD 47.8 Billion by 2024 from USD 5.92 Billion in 2016 at a CAGR of 34.8%.
Global Smart Building Market
This is a comprehensive global report focused on the current and future prospects of the Global Smart Building Market. This report is a consolidation of primary and secondary research, which provides market size, share, dynamics, and forecast for various segments and sub-segments considering the macro and micro environmental factors. An in-depth analysis of past trends, future trends, demographics, technological advancements, and regulatory requirements for the global Smart Building market has been done in order to calculate the growth rates for each segment and sub-segments.
The key driving factor for Global Smart Building Market include the growing need for integrated security and safety systems and decreasing operational costs and Implementation of IoT platform within the building automation technology are some of the major factors driving the market. Some of the major key factors that are anticipated to hamper the Global Smart Building Market growth over the forecast period are the high initial investment indulged in order to design and installation of the buildings with automated technology.
The services sub-segment among the type segment is anticipated to lead the market share over the forecast period, and anticipated to dominate the segment over the forecast period this is majorly due to rapid growth in the initiation of the number of smart city projects implemented globally.
Geographically, the Global Smart Building Market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The swift growth of the market in the Europe region is anticipated to dominate the market over the forecast period majorly owing to increased initiatives by the region’s governments for building smart and Schneider Electricligent structures. additionally, in Europe initiatives to further push smart and zero energy buildings, with mandatory changes to country level building codes and the Energy Performance of Buildings Directive (EPBD).
• Complete analysis with respect to individual growth trends is incorporated within the scope of our study. • Assessment of market definition along with the identification of key drivers, restraints opportunities for global Smart Building Market • Comprehensive analysis of factors that are instrumental in changing the market scenario, prospective opportunities, market shares, growth strategies along with identification of key companies are profiled. • Detailed quantitative analysis of the current and future trends for the forecast period has been profiled. • Global Smart Building Market analysis and segmentation with respect to type, building type, and geography. • Global Smart Building Market analysis and forecast for five major geographies- North America, Europe, Asia Pacific, Middle East & Africa and Latin America along with their key regions
The years that have been considered for the study are:
• Base year – 2016 • Estimated year – 2017 • Forecast period – 2017 to 2024
The Global Smart Building Market is estimated by triangulation of data points obtained from various sources and feeding them into a simulation model created individually for each market. The data points are obtained from paid and unpaid sources along with paid primary interviews with key opinion leaders (KOLs) in the market. KOLs from both, demand and supply side were considered while conducting interviews to get unbiased idea of the market. This exercise was done at a country level to get a fair idea of the market in countries considered for this study. Later this country-specific data was accumulated to come up with regional numbers and then arrive at the global market value for Global Smart Building Market