Governments of major economies across the globe have started caring about energy loss, efficiency and sustainability in the smart building sector that has resulted in several bylaws, regulations and standards related to green buildings. Number of governments have announced clear sanctions and incentives related to green building performance. Owing to rules and regulations across the globe there is a clear positive shift towards and smart green buildings.
The article cited AMA's "Global Smart Buildings Market Study" explored CAGR of 29.24%. According to the report, Growing Government Initiatives for Smart Building Projects
is one of the primary growth factors for the market. Upsurging Need for Safety and Security Systems
is also expected to contribute significantly to the Smart Buildings market. Overall, Residential Buildings
applications of Smart Buildings, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Building Type, such as Intelligent Security System, is boosting the Smart Buildings 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 Smart Buildings market identified that the demand is rising in many different parts of the world as "Increasing Awareness about Environmental Concerns and Green Building Construction
". Furthermore, some recent industry insights like "On November 12th, 2018, Siemens and Aruba, a Hewlett Packard Enterprise company, has announced a strategic partnership focused on bridging the Operational Technology (OT) and Information Technology (IT) worlds. Based on the respective partnership, Siemens and Aruba are able to support customers with highly reliable, secure and insightful data networks enabling high plant and network availability." 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 Smart Buildings 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 Smart Buildings 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 Smart Buildings market size is calculated using market estimation process, the Smart Buildings 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 Smart Buildings market size has been validated using both top-down and bottom-up approaches.