Global smart building market

Smart buildings are those buildings that use automated processes to control heating, ventilation, air conditioning, lighting, security and other systems. They deliver useful building services that make operations productive at the lowest cost and in the most sustainable manner.

The global smart buildings market is expected to grow from about USD 5.4 Billion in 2015 to cross USD 25 Billion by the end of 2022, growing at a CAGR of 34.3% in the forecasted period. However the current challenge for the market is the availability of the technology and hardware in remote areas.

On the basis of type, energy management system lead the market in all major regions due to the growing need for energy saving building systems and efficient building practices. This segment is expected to show similar results to the end of the forecasted period.

On the basis of region, APAC (Asia Pacific) takes the lead as the fastest growing market, followed by Europe and North America. APAC, growthis due to its rising population and rapid urbanisation and a demand for building systems which are highly efficient as well as effective in energy savings. Furthermore there have been a number of government initiatives to promote eco-friendly buildings. The region has also seen a lot of investment in R&D to bring advanced technology and automation, which further fuels the growth of the market.

The key players in the market are:

• Cisco Systems Inc.
• ABB Group
• International Business Machines (IBM) Corporation
• Control4 Corporation
• Honeywell International Inc.
• Emerson Electric Co.
• United Technologies Corporation
• Schneider Electric SE
• Siemens AG
• Delta Controls
• Johnson Controls International PLC
• Leviton Manufacturing Co. Inc.
• United Technologies Corporation
• BuildingIQ

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