Market News Today Smart Building Market Is Booming- Growing Need for

Smart Building Market Is Booming- Growing Need for
Security & Safety Will Propel The Global Market
Rising technological advancements through R&D endeavors, increasing
government regulations and growing need for security & safety are anticipated
to propel the smart building market growth over the next seven years.
However, rising cost of initial installation and assembly is projected to
challenge the market growth.
Smart building market is expected to witness significant growth over the forecast period owing to
rising demand of energy efficient sources, increasing need of safety & security and growing demand
of comfort in buildings. Smart building is a combination of several systems including technology,
energy and telecommunication and through these systems it achieves low operational and
maintenance costs thus helping in minimizing the greenhouse gas (GHG) emissions. The market is
anticipated to see high demand majorly in commercial and residential sectors owing to rising stringent
emission norms and high energy cost. Rising technological advancements through R&D endeavors,
increasing government regulations and growing need for security & safety are anticipated to propel
the smart building market growth over the next seven years.
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