Chicago, IL -- (SBWIRE) -- 09/15/2017 -- A smart building is any structure that uses automated processes to automatically control the building's operations including heating, ventilation, air conditioning, lighting, security and other systems. A smart building incorporates real-time systems for managing the functioning of a building via a single interface. Smart buildings rely heavily on the use of hardware and software that can not only make the building operate more efficiently, but also make improve its life-span by tracking problems and alerting residents of the same.

The report tracks the major market events including product launches, technological developments, mergers & acquisitions, and the innovative business strategies opted by key market players. Along with strategically analyzing the key micro markets, the report also focuses on industry-specific drivers, restraints, opportunities and challenges in the smart building market. The scope of this report covers the smart building market by its major segments, which include the types, applications, and the major geographic regions.

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Regionally, the global market for smart building is segmented as Europe, Latin America, Asia-Pacific, Middle East & Africa and North America. Among these, Europe is projected to grow with maximum market share over the forecast period. This increase is due to growing initiatives by the government of this region for building intelligent and smart structures. Moreover, in Europe region initiatives taken for further pushing zero and smart energy buildings, with the changes that are mandatory to the country level codes for building and EPBD (Energy Performance of Buildings Directive) are anticipated to augment infrastructure that already exists and lead to market growth smart building globally.

MARKET SEGMENTATION

This report analyzes the smart building market by the following segments:

Smart Building Market, by Type

1. Building Automation Software
2. Services

Smart Building Market, by Building Type

1. Manufacturing Facilities
2. Residential Buildings
3. Commercial Buildings
4. University, School, & Hospital Buildings
5. Government & Public Infrastructure Facilities
6. Others

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