Smart Building Market Booming at high CAGR of 34.1 % by 2025 with Top Key Players ABB Group
Posted: Sep 16, 2019
Global Smart Building Market accounted for USD 5.89 billion in 2017 and is projected to grow at a CAGR of 34.1% the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025. Key players profiled in this report are ABB Group, Siemens AG, Schneider Electric, Cisco Systems, Inc., International Business Machines Corporation, Delta Controls, Johnson Controls, Honeywell International Inc., United Technologies Corporation, Legrand, BuildingIQ (US), Ingersoll Rand Security Technologies, TYCO International, Control4, Hitachi, IBM, Accenture and General Electric
Market Segmentation: Global Smart Building Market
- The global smart building market is based on type, systems segment analysis, application segment analysis, and geographical segments.
- Based on type, the global smart building market is segmented into building automation software and services. Building automation software type is further sub segmented into intelligent security system, building energy management system, infrastructure management system and network management system. Services segment is further sub segmented into professional services, and managed services.
- Based on system segment analysis, the global smart building market is segmented into building energy management system, physical security system, building communication systems, plumbing and water management system, parking management systems, elevators, and escalators management system.
- Based on application segment analysis, the global smart building market is segmented into manufacturing facilities, residential buildings, commercial buildings, university, school, & hospital buildings, government & public infrastructure facilities, and others.
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Market Drivers and Restraints:
- Upcoming government initiatives and measures.
- Rising concern for safety and security among the common people.
- Rapid urbanization and industrialization.
- Increasing adoption of energy saving technologies.
- Expensive set costs leading to huge investment.
- Lack of skilled labor.
Competitive Analysis: Global Smart Building Market
The global smart building market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of smart building market for global, Europe, North America, Asia Pacific and South America.
Key insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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Data Bridge Market Research
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches.