Analysis of the Global Sensors in Infrastructure Monitoring and Smart Buildings Market
The global sensors in infrastructure monitoring and smart buildings market was estimated to be worth $million in 2014.
The key application market in 2014 was institutional buildings and bridges, while the largest revenue in 2014 was generated by North America.
The market is expected to record a compound annual growth rate (CAGR) of % during 2014–2021. The commercial buildings application segment is expected to witness the most rapid growth during this period.
End users’ price sensitivity is high in regions such as Asia-Pacific, Africa, and certain parts of Europe. A boost in the awareness level on the benefits of sensors will drive market growth in these regions.
Research and development (R&D) spend in the market is increasing to offer cost-effective innovative products.
North America will retain the major share of market revenue throughout the forecast period, while Asia-Pacific will play the role of growth engine.
Internationally, the big companies, Honeywell, GE, and Kavilco, constitute % of the global market.
About this report
The research analyzes the global sensors in infrastructure monitoring and smart buildings market. Sensors enable continuous remote monitoring of infrastructure and smart buildings. This has triggered increasing deployment of different sensors for key applications such as maintaining building and infrastructure health, ensuring security, power conservation, and maintaining air quality within different types of buildings. In advanced economies, aging infrastructure demands immediate attention. Many countries have already rolled out smart city projects, which aim to utilize cutting-edge technologies by large-scale use of sensors. The base year of the study is 2014, with forecasts up to 2021.
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