Smart Building Market by Region, Building Type, Analysis and Outlook to 2023

(IT-NEWSWIRE.COM, January 31, 2018 ) According to Publisher, the Global Smart Building market is expected to grow from $8.49 billion in 2016 to reach $57.81 billion by 2023 with a CAGR of 31.5%. Factors such as increasing adoption of energy saving technologies, growing safety and security concerns are the fueling the market growth. Moreover, rapid urbanization in emerging countries is one of the major factors boosting the market growth. However, expensive set up costs, lack of skilled labour are the constraints limiting the market growth.

By type, services segment is expected to grow at the highest rate owing to implementation of new and intelligent automation technologies by service providers for the effective maintenance of buildings which reduces the costs. The services include managed and professional services which are offered by various vendors in the market. Geographically, Europe accounts for the largest market share owing to development of initiatives by various governments in building smart and creative structures. In addition, the rising adoption of security solutions and energy management has led to the growth of the market in the European regions.

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Some of the key players in the Smart Building market include Honeywell International, Siemens, Cisco, Johnson Controls, IBM, General Electric, Hitachi, Schneider Electric, ABB, Buildingiq, Accenture, Legrand, Ingersoll Rand Security Technologies, United Technologies Corporation and Delta Controls.

Building Types Covered:
-Commercial Buildings
-Government & Public Infrastructure Facilities
-Residential Buildings
-University, School, & Hospital Buildings
-Manufacturing Facilities
-Other Building Types

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Types Covered:
-Services
-Building Automation Software

Regions Covered:
-North America
-US
-Canada
-Mexico
-Europe
-Germany
-UK
-France
-Italy
-Spain
-Rest of Europe
-Asia Pacific
-Japan
-China
-India
-Australia
-New Zealand
-South Korea
-Rest of Asia Pacific
-South America
-Argentina
-Brazil
-Chile
-Rest of South America
-Middle East & Africa
-Saudi Arabia
-UAE
-Qatar
-South Africa
-Rest of Middle East & Africa

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Smart Building Market by Region, Building Type, Analysis and Outlook to 2023