Global Smart Building Market Size Will Reach USD 36.0 Billion by 2020

Zion Market Research has published a new report titled “Smart Building Market (Building Energy Management System, Physical Security System, Building Communication Systems, Plumbing & Water Management System, Parking Management Systems, and Elevators & Escalators Management System) for Residential, Commercial, Hospitality, Airports, Institutional, Industrial, and Other Buildings: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020”. According to the report, the global smart building market was valued at approximate USD 7.0 billion in 2014 and is expected to reach approximately USD 36.0 billion by 2020, growing at a CAGR of slightly over 30% between 2015 and 2020.

Smart or intelligent buildings are buildings that through their physical design and IT installations are responsive, flexible and adaptive to changing needs from its users and the organizations that inhabit the building during its lifetime. The building will supply services for its inhabitants, its administration and operation & maintenance. The intelligent building will accomplish transparent ‘intelligent’ behavior, have state memory, support human and installation systems communication, and be equipped with sensors and actuators. read more >>