The smart building market is primarily segmented on the basis of products into safety & security, heating ventilation & air conditioning( HVAC), monitoring, lighting, energy management, car parking system and emergency system. Smart building primarily connects normal operations of a building such as lighting, HVAC, water supply, and fire emergency with building automation system( BAS). It helps in controlling and monitoring the energy efficiency and energy usage of the building. Growing need for the reduction of energy-associated costs is anticipated to drive the energy management system and thus estimating it to account for high market share. The different types of automation system in the market are physical security system, water management system, energy management system, elevator system and communication system. Physical security systems are comprised of access control systems, surveillance solutions, and alarming systems. Communication systems such as video conferencing, wireless systems such as Zigbee, Z-wave or Bluetooth and the LAN or WANbased communication architecture are anticipated to witness significant growth owing to need of remote surveillance and monitoring. The market is segmented by application into commercial, educational, hospitals, industrial, residential infrastructures and airports.
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North America and Europe are expected to account for highest market share over the next seven years owing to growing demand from end-user industries such as automotive, aviation, food & beverage, petrochemical, defense, IT, and pharmaceutical. The regions are very responsive in an adoption of any technological advancement primarily due to rising consumer awareness. Asia- Pacific and Latin America are projected to witness the fastest growth owing to rising modernization in the construction and manufacturing industries. India, China, Japan and Indonesia are anticipated to fuel the growth by 2022 primarily due to rising presence of large number of service providers.
Major players in the smart building market include Control4 Corporation, Cisco Systems Inc., Leviton MFG. Company Inc., Schneider Electric SA, Emerson Electric Co., Siemens Buildings Technologies, United Technologies Corporation, Honeywell Scanning & Mobility, Smart home Inc. and LG