Global Smart Building Market 2015-2019
About Smart Building
A smart building connects BAS with the normal operations of a building such as HVAC, lighting, water supply, and fire emergency. It monitors and controls the energy usage of the building and helps in saving and improving the energy efficiency of the building. The concept of smart building has gained popularity worldwide as home developers have started to realize that these buildings are economical in the long run. In the recent years, several technological advancements have enabled building operators to monitor the real-time activities of the buildings, which when combined with BAS helps in controlling the lighting and energy systems.
Technavio's analysts forecast the global smart building market to grow at a CAGR of 11.90% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the global smart building market for the period 2015-2019. The market size has been estimated based on the historical expenditure made in the global smart building market. The report focuses on the key leading countries using the smart building technology. The report also discusses the features of a smart building and how is it different from ordinary buildings. Analysis of the Burj Khalifa and the acquisitions made by Siemens Technologies is also a part of the report. In addition, the report shows the five key vendors present in the market and a detailed analysis of these vendors. Key Countries
Technavio Announces the Publication of its Research Report – Global Smart Building Market 2015-2019
Technavio recognizes the following companies as the key players in the global smart building market: Cisco Systems, Control4, Honeywell Scanning and Mobility, Schneider Electric and United Technologies
Other Prominent Vendors in the market are: Leviton, Emerson Electric and Siemens Building Technologies
Commenting on the report, an analyst from Technavio’s team said: “The adoption of the PPP model has led to the involvement of OEMs, service providers, and ISPs such as ABB, GE, Toshiba, Accenture, SAP, and Microsoft in the global market. For example, Cisco, IBM, 3M, GE, Honeywell, Otis, EMC, KPMG, Louis Berger, and Timken have formed a consortium to partner with India for building smart cities including smart buildings. Moreover, a number of start-ups such as US based Project Frog, BuildingIQ among others are venturing into the market. These start-ups either collaborate with private or public players to increase their business opportunities.”
According to the report, increase in urbanization is creating social and environmental challenges such as water shortages, power deficits, pollution, and inadequate waste water and sewage treatment capacity among others. To combat these challenges posed by urbanization, governments of both emerging and developed economies are focusing on smart buildings concept which provide the best integrated solutions to all these problems.
Further, the report states that high initial costs are a barrier for the development of smart buildings in most developing countries, discouraging private construction companies from investing in the smart building market.
Cisco Systems, Control4, Honeywell Scanning and Mobility, Schneider Electric, United Technologies, Leviton, Emerson Electric, Siemens Building Technologies
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