Jun 23 2015
Research and Markets has announced the addition of the "Smart Building Market by Building Automation System (Physical Security, BEMS, Building Communication, Parking Management, Plumbing & Water Management, Elevators & Escalators Management), by Application & by Region - Global Forecast to 2020" report to their offering.
The smart building market is expected to grow during the forecast period 2015-2020 due to the rising energy costs and government initiatives. The main factors driving the growth of this market includes the abilities to reduce the CO2 emissions, reduce maintenance and operating costs, enhance the life of the building as well as improving the safety and security of its users. A smart building plays a major role in contributing to energy savings and provides the prospect of extending the life of the equipment and acts as a safeguard of a building system. Government initiatives towards green building are expected to provide a huge potential to this market.
Government initiatives such as the vision of the U.S. government towards making energy independent commercial buildings by 2025, indicating that commercial buildings have to accelerate to produce onsite power, play a huge role in the growth of the market. A smart building also improves the return on investment for the developers and provides safety platform for users from outside threat. It is expected that energy demand would increase by 40% between 2010 and 2040, which is likely to help this market to grow substantially in the future.
Companies Mentioned:
- ABB Ltd.
- Accenture
- Cisco Systems, Inc.
- Delta Controls
- General Electric
- Honeywell International Inc.
- IBM Corporation
- Johnson Controls, Inc.
- Schneider Electric SE
- Siemens AG
Source: http://www.researchandmarkets.com/