Smart Building Market Size to Reach $247.17 Billion, Globally, by 2032 at 12.3% CAGR: Allied Market Research [Yahoo! Finance]
SCHNEIDER ELEC UNSP/ADR (SBGSY)
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Source: Yahoo! Finance
NEW CASTLE, Delaware, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, " Smart Building Market by Component (Solution and Services), Solution Type (Building Infrastructure Management (BIM), Security & Emergency Management (SEM), Energy Management, Network Management, Workforce Management, and Waste Management), Building Type (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the "smart building market" was valued at $78.28 billion in 2022, and is projected to reach $247.17 billion by 2032, growing at a CAGR of 12.3% from 2023 to 2032. The rise in the demand for enhanced building security, and technological advancements boost the growth of the global market. In addition, the surge in adoption of cloud and mobile applications is positively impacting the growth of the market. However, data privacy and security concerns and the high implementation cost hamper the growth
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