Smart Building Market to Reach USD 24.7 Bn by 2021, Forecasts M&M in Its Report Available at MarketPublishers.com15 Sep 2016 • by Natalie Aster
LONDON – As of 2016, size of the global market for smart building amounted to more than USD 5.7 billion. This marketplace is set to show tremendous growth in the upcoming years, with its CAGR being around 34%.
Such rapid growth will be driven by different factors, such as government initiatives favoring smart building projects, the increasing demand for integrated system and security systems, lowering operating costs and more.
The global market is forecast to be worth over USD 24.7 billion by 2021.
There are also some restraints: a high cost of initial deployment, deficiency of technically skilled staff, etc.
The integrated security segment is set to dominate the global marketplace in the near term.
Region-wise, Europe is a leader. However, APAC is set to demonstrate the highest CAGR in the upcoming years. SIEMENS, DELTA CONTROLS and IBM are some of the leading companies.
Insightful research report “Smart Building Market by Building Automation Software, Building Type, Services - Global Forecast to 2021” elaborated by M&M offers a thorough discussion of the global smart building marketplace. The study investigates the industry evolution and examines factors driving and restraining its growth. It focuses on opportunities and challenges of the marketplace.
The report explores industry trends, as well. The research study analyses the market space on the basis of building automation software, building types and services. It delves deep into regional performance and scrutinizes the competitive environment, besides containing company profiles. Future market outlook are available in the research study, too.
- 360-degree overview of the marketplace;
- details on market trends and developments;
- coverage of its dynamics;
- investigation of the competitive landscape and profiles of top players;
- details on major regions;
- deep insights into each market segment;
- future projections;
- and more.
More in-demand studies by M&M are available at its page.