Factors such as the growing need for integrated security and safety systems in buildings and the implementation of the IoT platform in building automation technology are expected to drive the growth of the market.
The Smart building market is projected to grow from an estimated USD 7.42 billion in 2017 to USD 31.74 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 33.7% during the period forecast period from 2017to 2022.
High initial investments are expected to be restraints in the growth of the smart building market.
Target Audience
- System Design & Development Vendors
- System Integrators/Migration Service Providers
- Consultants/Consultancies/Advisory Firms
- Support & Maintenance Service Providers
- Network Service Providers
- Smart Building Product & Solution Provider Companies
- Academic and Research Institutes
- Government Associations
The smart building market has been studied for North America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA), and Latin America.