ICT Industry Reports

According to TechSci Research,  Global smart building market was valued at USD9366 million in 2019 and is expected to grow at a CAGR of more than 32% during the forecast period. The major factors driving the market include growing need for integrated security and safety systems coupled with the increasing government focus on smart cities. Smart building refers to the automatic and centralized control of a building’s heating, ventilation, air conditioning, lighting, security and other systems. Smart building reduces energy consumption and reduce the overall operational cost. Global smart building market is segmented by building automation software, services, building type, and region. Based on building automation software, the market is further fragmented into intelligent security system, building energy management system, infrastructure management system and network management system. Building energy management system asserts its dominance over the market and is expected to grow m...