Portland, OR, March 04, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global intelligent building market was pegged at $12.37 billion in 2017, and is estimated to hit $42.64 billion by 2024, registering a CAGR of 19.6% from 2018 to 2024. The report highlights market characteristics, market potential, growth by segmentation, and competitive landscape.
Increase in need for novel energy-efficient interventions, surge in the market for building automation & control systems, and extensive IoT penetration in building management systems have boosted the growth of the global intelligent building market. Moreover, the supportive industry standards and regulations toward smart building supplemented the market growth. However, complex interoperability between multiple systems and deployed for managing infrastructure and high initial investment hinder the market growth. On the contrary, the supportive industry standards and regulations toward smart building are estimated to open lucrative opportunities for the market players in the future.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/4605
Impact of Covid-19 Pandemic on Intelligent Building Market:
- Due to the Covid-19 pandemic, governments of various countries imposed complete lockdown to curb the spread of the infection. The resulted in the shutdown of ongoing and upcoming construction activities.
- Moreover, the prolonged lockdown compelled construction workers to go back to their hometowns, creating a dearth of a workforce when building developers decided to resume their projects.
- In addition, the pandemic disrupted the supply chain and revenue flow along with a lack of raw construction materials.
- However, as the number of Covid-19 patients has reduced, the construction activities are expected to resume at full-scale, increasing the demand for intelligent building management systems.
Get detailed COVID-19 impact analysis on the Intelligent Building Market: https://www.alliedmarketresearch.com/request-for-customization/4605?reqfor=covid
The global intelligent building market is segmented on the basis of component, type, end-user, and region. Based on type, the building energy management system segment is estimated to manifest the highest growth during the forecast period. However, the intelligent security system segment held the lion’s share in 2019 and is expected to maintain dominance during the forecast period.
On the basis of region, the global intelligent building market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific segment is estimated to manifest the highest CAGR of 23.2% from 2018 to 2024. However, the market across Europe held the largest share in 2019.
For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/4605
The global intelligent building market report includes an in-depth analysis of the prime market players such as ABB, Delta Controls, Cisco Systems, Inc., Intel Corporation, Honeywell International Inc., Legrand, Johnson Controls, Siemens AG, Schneider Electric, and United Technologies Corporation.
AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer a cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Get access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter