Brooklyn, New York, USA, 2021-Apr-30 — /Meridian Market Consultants/ — An overview of conceptual frameworks, analytical approaches of the Smart Buildings Market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The smart buildings market is expected to grow at a significant rate in the near future.
The global Smart Buildings Market in 2020 is estimated for more than US$ 55.7 Bn and expected to reach a value of US$ 141.7 Bn by 2028 with a significant CAGR of 12.4%.
Smart Buildings Market Dynamics
We spend most of our life living in these structures called buildings, be it our home, workplace or any other place. At the very beginning, buildings were just the structure made of sticks, stones, animal skins and other natural substances, which just used to fulfil basic needs of mankind including shelter and provide a safe and comfortable place to reside. Although, now that time has changed enormously, just fulfilling basic needs isn’t enough.
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The building occupants and the entire community, in the modern-day world, are starting to look outside the four walls of their house and acknowledging the significance of their building on the electrical grid as well as on the whole global environment. Thereby, the idea of “Smart Buildings” arose which uses technology to accumulate data about the activities in the building between systems so as to advance the building's performance. The accumulated data is then used to automate several different processes, ranging from lighting, heating and ventilation to air conditioning and security. The building owners are more encouraged in present times to look after the environment and surroundings as well as to reduce energy costs, which further promotes the idea of smart buildings in the global society.
Furthermore, several governments and regulatory authorities are also encouraging the idea of smart construction and infrastructure across the world along with imposing several laws and regulations to encourage current and future operations. Owing to which, the global smart buildings market is projected to grow expeditiously in the forthcoming years.
Smart Buildings Market Key Players
Some of the key participating players in global smart buildings market are:
ABB Group
Siemens AG
Schneider Electric
Cisco Systems, Inc.
IBM Corporation
Delta Controls
Johnson Controls
Honeywell International Inc.
United Technologies Corporation
Legrand
BuildingIQ
And Others
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Smart Buildings Market Segmentation
The global smart buildings market is segmented on the basis of types, building types, and end user.
By Types
Building Automation Software
o Intelligent Security System
Video Surveillance System
Access Control System
Emergency Management System
o Building Energy Management System
Energy Management Platform
HVAC Control System
Lighting Control System
o Infrastructure Management System
Parking Management System
Smart Water Management System
Elevators and Escalators Management System
o Network Management System
Services
o Professional Services
Consulting Services
System Integration and Deployment Services
Support and Maintenance Services
o Managed Services
By Building Types
Manufacturing Facilities
Residential Buildings
Commercial Buildings
University, School, & Hospital Buildings
Government & Public Infrastructure Facilities
Others
By Region
North America
Latin America
Europe
Asia Pacific
Middle East
Africa
To Identify the Key Trends in the Global Smart Buildings Industry, Visit: https://meridianmarketconsultants.com/global-smart-buildings-market
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