IoT in Smart Building Market Scope
These Smart Building Types are mostly based on commercial real estates (CRE), such as office buildings and warehouses, which can be optimized for both humans and robots with the Internet of Things ( IoT) technology for optimized networking, automation, and many workplace benefits. CRE owners understand the potential to realize substantially higher lease payments for intelligent houses, in addition to maximizing tenant operations. Therefore, at least one facet of IoT and/or associated Smart Building technology is involved in over 80 percent of new construction. Thus adapting a huge amount of market share in upcoming years.
The market study is being classified by Type (Solution and Services) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies
Honeywell (United States), Johnson Controls (Ireland), Cisco (United States), Hitachi (Japan), Siemens (Germany), IBM (United States), Schneider Electric(France), Intel (United States), Huawei(China), ABB(Switzerland), L&T Technology Services(India), 75F (United States), Telit (United Kingdom), Pointgrab (Israel) and LogicLadder (India) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Spacewell (Belgium), PTC(US), Avnet (United States), Softdel (United States) and Spaceti (Czech Republic).
AdvanceMarketAnalytics has segmented the market of Global IoT in Smart Building market by Type, Application and Region.
On the basis of geography, the market of IoT in Smart Building has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In August 2019, Cisco completed the acquisition of Sentryo, a provider of device visibility and security solutions for Industrial Control System (ICS) networks. This acquisition enables Cisco to offer control system s engineers deeper visibility into assets for optimizing, detecting anomalies, and securing their networks.to optimize, detect anomalies, and secure their networks.
In January 2019, Adesto Technologies Corporation demonstrated predictive energy analytics for smart buildings with the help of IBM’s 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.
- The Emergence Trend of 5G Technology
- Rising Smart City Trend
- Rising Adoption of IoT-Enabled Building Management System
- Rising Awareness With Regard to Space Utilization
- Increased Industry Standards and Regulations
- 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.
- Lack of Cooperation Among Standard Bodies
- Lack of Technology Alignment and Skilled Professionals
- Rising Privacy and Security Concerns Owing to IoT-Enabled Devices
Key Target AudienceIoT companies, Smart building companies, Broadband service providers, Telecom infrastructure suppliers, Communications component providers, Cloud services and datacenter companies, Smart grid and energy management companies and Local, State, and Federal government organizations
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