Market News Today Smart Building Market Is Booming- Growing Need for | Page 3

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 WAN-
based 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.
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.
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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, Smarthome Inc. and LG Electronics
Inc. The companies are focusing on growing end user awareness regarding the technological
advancements so that over the forecast period the adoption of smart building increasing
substantially. In the financial year 2015-16, Cisco declared that it will bring down the GHG emissions
and overall carbon footprints through reducing energy consumption.
Market Segment:
This report studies the global Smart Building market, analyzes and researches the Smart Building
development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This
report focuses on the top players in global market, like
• ABB Group