The article cited AMA's "Global IoT in Smart Building Market Study" explored CAGR of %. According to the report, The Emergence Trend of 5G Technology
is one of the primary growth factors for the market. Rising Adoption of IoT-Enabled Building Management System
is also expected to contribute significantly to the IoT in Smart Building market. Overall, applications of IoT in Smart Building, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Building Type, such as Residential, is boosting the IoT in Smart Building market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Solution Type, such as Building infrastructure Management (Parking Management System, Smart Water Management System and Elevators and Escalators Management System), is boosting the IoT in Smart Building market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Service Type, such as Consulting, is boosting the IoT in Smart Building market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global IoT in Smart Building market identified that the demand is rising in many different parts of the world as "Supporting technology such as Artificial Intelligence ( AI), Mobile Edge Computing, and 5 G networks would also support software and facilities connected to new and advanced smart building systems. The expected massive growth of IoT smart building systems also provides a major market opportunity for real-time IoT analytics and asset tracking systems, especially associated with smart workplace solutions.". Furthermore, some recent industry insights like "In January 2019, Adesto Technologies Corporation demonstrated predictive energy analytics for smart buildings with the help of IBMís Watson IoT platform. Through this partnership, Adesto is enabling smarter buildings by gaining insights through insights into energy management and other operational data through services running on the IBM Watson IoT platform." is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global IoT in Smart Building market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2018 currency rates.
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the IoT in Smart Building market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall IoT in Smart Building market size is calculated using market estimation process, the IoT in Smart Building market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global IoT in Smart Building market size has been validated using both top-down and bottom-up approaches.