The market is made up of many subsectors, including commercial, residential, government, airports, hospitals, institutes and manufacturing and industrial facilities.
Also propelling the growth of smart buildings is the increasing demand for integrated security and safety systems and the ongoing push by governments for smart building programmes.Â And smart buildings are getting ever smarter. A growing number of smart buildings incorporate a slew of advanced technologies to manage lighting, energy, heating and security systems. The market is made up of many subsectors, including commercial, residential, governmental, airports, hospitals, institutes and manufacturing and industrial facilities. The commercial buildings segment is the largest market segment in 2016. Commercial buildings refer to office
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buildings and retail infrastructures such as malls and shopping stores. All these buildings have huge utilisation of energy and require high-tech security systems. As a result, they have a greater need for automated systems. This segment is expected to continue to dominate the market throughout the forecast period, with increasing energy-saving concerns expected to drive growth in the segment. The market is also segmented along automation lines, services types and geographical regions. In terms of automation class, the market is segmented into energy management, intelligent security systems, infrastructure management
and network management.
With regard to services, the market is segmented into professional services and managed services. The professional services segment constituted a major market segment in 2017. Demand is high for professional services such as consultation and training activities.Â In developing regions, the smart building market is growing at a rapid pace. Accelerating technological developments and the adoption of new infrastructure security and services in emerging countries coupled with a hike in smart building programmes in these countries will propel the growth of the market in the Asia Pacific region. While Europe will continue to dominate, Asia Pacific is anticipated to take up a bigger slice of the pie in the forecast period. The major market players in the smart building market are Siemens AG, ABB Group, Cisco Systems, Schneider Electric SE, United Technologies Corporation, BuildingIQ, Inc., Honeywell International, IBM, Johnson Controls and Delta Controls. SST
Security Solutions Today â€˘ May / June 2019
2/5/19 5:00 PM
Security Solutions Today: May-Jun 2019