Global Smart Building Market 2015-2019 research report forecasts a steady growth for worldwide smart building industry at nearly 12% CAGR with rapid urbanization being one of the major market growth drivers.
Increased urbanization, according to this latest smart building market research, is creating social and environmental challenges like water shortages, power deficits, pollution and waste water, and sewage problems. To combat these challenges, governments of emerging and developed economies are focusing on smart buildings to provide the best integrated solutions. This new report on smart building market also draws attention to some of the challenges facing construction of smart buildings, including lack of finances in developing countries.
The adoption of the public private partnership model is helping public companies that have easy access to finances lynch up with private players who are struggling to find funding for smart buildings. This public private partnership model ensures that private companies easily receive the construction permits associated with smart buildings and public players get an access to the advanced technology and expertise offered by private players.
Companies mentioned in this smart building market report include Cisco Systems, Control4, Honeywell Scanning and Mobility, Schneider Electric, United Technologies, Leviton, Emerson Electric and Siemens Building Technologies.
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 covered in this smart building market research include Australia, China, Germany, India, Japan, UAE and US.
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.
