Technavio has published a new report on the global smart building market, which is expected to grow at a CAGR of almost 12% from 2015-2019.
According to the latest report by Technavio, increased urbanization is creating social and environmental challenges like water shortages, power deficits, pollution and waste water, and sewage problems. To combat these challenges, governments of emerging and developed economies are focusing on smart buildings to provide the best integrated solutions.
The new Technavio report also draws attention to some of the challenges facing smart building construction, including lack of finances in developing countries.
“The adoption of the public private partnership model is helping public companies that have easy access to finances lynch up with private players who are struggling to find funding for smart buildings,” says Faisal Ghaus, Vice President of Technavio.
“This public private partnership model ensures that private companies easily receive the construction permits associated with smart buildings and public players get an access to the advanced technology and expertise offered by private players.”
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and the growth prospects of the global smart building market from 2015-2019. The market size has been estimated based on the historical data of the smart building market.
Key Information Covered in the Report:
Cisco Systems Inc.
Honeywell Scanning and Mobility
Schneider Electric SE
United Technologies Corp.
Market Growth Drivers:
High Initial Costs
Adoption of PPP Model