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Press Release: Top Trends in Smart Building Market Will Grow to USD 61,900 million by 2024: Zion Market Research


New York, NY, July 12, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Smart Building Market by Automation Type (Energy management, Intelligent security systems, Infrastructure management, and Network & communication management), By Service (Professional services and Managed services), and for Applications (Commercial, Residential, Government, Airports, Hospitals, Institutes, Manufacturing & Industrial facilities, and Others): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024”.

According to the report, global smart building market was valued at around USD 5,800 million in the year 2016 and it is expected to reach approximately USD 61,900 million by 2024. The global smart building market is expected to exhibit a CAGR of more than 34% between 2017 and 2024.

Browse through 23 Tables & 47 Figures spread over 110 Pages and in-depth TOC on “Global Smart Building Market: Industry Size, Share, Growth, Trends and Forecast 2016 – 2024”.

Request Sample Report of Global Smart Building Market @ https://www.zionmarketresearch.com/sample/smart-building-market

Report Brief

  • The report covers the forecast and analysis for the smart building market on a global and regional level.
  • The report includes the positive and the negative factors that are influencing the growth of the market.
  • Future market opportunities and detailed information about the market are discussed.
  • The revenue generated by the prominent industry players has been analyzed in the report.
  • The market numbers have been calculated using top-down and the bottom-up approaches.
  • The smart building market has been analyzed using Porter’s Five Forces Analysis.
  • The market is segmented on the basis of automation type, service, and application which in turn is bifurcated on a regional level as well.
  • All the segments have been evaluated based on the present and the future trends.
  • The report deals with the in-depth quantitative and qualitative analyses of the smart building market.
  • The report includes the detailed company profiles of the prominent market players.

Market Summary

A smart building is any type of infrastructure that makes use of automation in order to control the operations of the building which can be anything such as ventilation, lighting, heating, air conditioning, security, and much more. To do all this actuators, sensors, and microchips are used within the building to collect the data and accordingly manage the services and functions. Such type of infrastructures help the operators, owners, and facility managers to enhance the asset performance and reliability, which leads to space optimization, minimizes the energy utilization, and reduces the environmental impact of buildings.

Request for PDF Brochure of This Report: https://www.zionmarketresearch.com/requestbrochure/smart-building-market

Value

The global smart building market was valued at around USD 5,800 million in the year 2016 and it is expected to reach approximately USD 61,900 million by 2024. The global smart building market is expected to exhibit a CAGR of more than 34% between 2017 and 2024.

Drivers and Restraints

The major factor driving the growth of smart building market is the globally increasing concerns about the energy consumption. The utilization of energy is increasing at a rapid rate thus making it necessary to find efficient ways to utilize it wisely. Since there has been an increase in the number of commercial complexes that consumes a significant amount of electricity and other types of energy the requirement for the automation systems has increased. 

High initial investment is required for developing, designing, and installing systems coupled with the increased technical knowledge these factors are expected to limit the growth of the market.

Browse the full "Smart Building Market by Automation Type (Energy management, Intelligent security systems, Infrastructure management, and Network & communication management), By Service (Professional services and Managed services), and for Applications (Commercial, Residential, Government, Airports, Hospitals, Institutes, Manufacturing & Industrial facilities, and Others) Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024" report at https://www.zionmarketresearch.com/report/smart-building-market

Segmentation

Intelligent security systems are most widely used automation type in smart buildings. Intelligent security management system results in much lower operational costs and increased energy savings through automated energy conservation features. Rising security concerns and the latest technological advancement and reliability that is provided by the intelligent security systems is increasing its demand in the global market.

Professional services segment contributed more than 50% of the market share in 2016. The professional services segment is expected to retain its dominance in the forecast period. Professional services offer consultation and training activities by understanding the organization requirements, technical goals, and the challenges. Thus it helps the organizations to find effective ways to resolve their challenges. 

Commercial buildings include office buildings, retail infrastructures such as malls, shopping stores, and others. All these buildings have huge utilization of energy and require high-tech security systems thus commercial buildings have increased utilization of the automated systems. The commercial buildings segment accounted for the largest share in 2016 and is expected to retain its dominance throughout the forecast period. The commercial building segment is anticipated to register CAGR of approximately 34% during the forecast period. Increasing energy-saving concern in order to reduce the operational cost will drive the growth of this segment.

Europe holds the dominant position in the smart building market followed by North America and Asia Pacific. The factors that are driving the market in Europe are high adoption rate of the technological advancements and improved and favorable government initiatives to build smart and intelligent structures. It is anticipated that Asia Pacific will grow with the highest CAGR of approximately 35% between 2017 and 2024. The factors that are positively affecting the growth of the market in Asia Pacific are increasing disposable income, growing commercial infrastructures, and rising adoption of advanced automated technologies, especially in the developing regions.

Inquire more about this report before purchase @ https://www.zionmarketresearch.com/inquiry/smart-building-market

Industry Players

The report includes detailed profiles of the prominent market players that are trending in the market. The list of the players that are compiled in the report is Siemens AG, ABB Group, Cisco Systems, Schneider SE, United Technologies Corporation, Buildingiq, Inc., Honeywell International, IBM Corporation, Johnson controls, and Delta Controls, among others.

The prominent market players maintain the competitive edge in the global market by making investments in the mergers and acquisitions and by increasing their product portfolio. In October 2017, Schneider Electric had launched EcoStruxure Building, a new platform designed to support the management of smart buildings.

Request customized copy of report @ https://www.zionmarketresearch.com/custom/2574

The global smart building market is segmented on the basis of the automation type, services, applications, and the geographical regions.

Global Smart Building Market: Automation Type Segment Analysis

  • Energy management
  • Intelligent security systems
  • Infrastructure management
  • Network & communication management

Global Smart Building Market: Services Segment Analysis

  • Professional services
  • Managed services

Global Smart Building Market: Applications Segment Analysis

  • Commercial
  • Residential
  • Government
  • Airports
  • Hospitals
  • Institutes
  • Manufacturing & Industrial facilities
  • Others

Global Smart Building Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • The Middle East and Africa
    • GCC Countries
    • Southern Africa
    • Rest of MEA

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Follow Us LinkedIn: https://www.linkedin.com/company/zion-market-research
Follow Us Twitter: https://twitter.com/zion_research

Contact Us:

Joel John
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll Free No.1-855-465-4651
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Website: https://www.zionmarketresearch.com

Blog: http://zmrblog.com



Posted: 2019-07-12 12:02:00

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