Exponential growth forecast in smart building market

The need for greener workplaces is set to drive exponential growth in the smart building market, according to new research published by Polaris Market Research.

In North America alone, the intelligent building automation technologies (IBAT) market is projected to be worth $18bn by 2026, up from $8bn a decade earlier. Globally, says Polaris, the figure will be nearer $120bn.

In a world increasingly regulated by the need to reduce energy consumption and CO2 emissions, the desirability of system monitoring and controlling building environments will rise accordingly. Besides security and safety systems, IBAT is used to control such features as lighting, electricity, plumbing, heating, ventilation, and air conditioning.

GS Technologies Ltd (LON:GST), through its subsidiary, EMS Wiring Systems Pte. Ltd, provides services in the “Smart Building” sector. Smart Building is a diverse term that refers to the technological capabilities of buildings and other work place facilities.

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