Smart building is a structure that comprises automated processes to control various building operations such as conditioning, ventilation, lighting, pumps, heating, fire alarms, security and other systems. Smart building includes a wide range of electronic home equipment from a remote location to make a more comfortable lifestyle. The smart building contains sensors, actuators and microchips to monitor databases for the business services. The smart building reduces energy consumption by around 5%-35% as per the usage of smart technology and improves building efficiency by maximum space utilization. Smart building is comfortable, raise the standard of living, and ensures health as well as safety considerations. The smart building is raising the productivity of the staff, improves building operations, support sustainability efforts, and enhance decision-making across the organization.
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The major driving factors in the GCC Smart building Market include increasing adoption of IoT enabled building management systems. Rising consumer preference and adoption of applications of information technologies will further boost the growth of the GCC Smart building Market. Increasing consumer awareness for proper space utilization is expected to further propel the GCC Smart building Market. Rising rapid urbanization and high disposable income in middle-class families are strengthening to adapt IT that manages urban infrastructure and digitalizing urban services is expected to bolster the growth of the GCC Smart building Market.
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Various notable players operating in the market, include Honeywell Intentional Inc., Johnson Controls Intentional PLC, Cisco Systems Inc., Hitachi Ltd., Siemens AG, IBM Corporation, Schneider Electric SE, Intel Corporation, Huawei Technologies Co. Ltd., ABB Limited, L&T Technology Services Limited, 75F LLC., Telit Communications PLC, PointGrab Ltd., Spacewell among others.
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The GCC Smart building Market has been segmented based on component, solution, service type and building type. Based on component, the market is segmented solution and services. Based on solution type, the market is segmented building infrastructure management, security and emergency management, energy management, network management and workforce management. Based on service type, the market is segmented into consulting, system integration and deployment and support and maintenance. Based on the building type, the market is segmented residential, commercial and industrial. Based on countries, the market is segmented into UAE, Saudi Arabia, Oman, Kuwait, and the Rest of GCC.
Key questions answered in this research report:
- At what pace is the GCC Smart building Market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in GCC Smart building Market?
- What will be the impact of drivers and restraints in the future?
- What are the various types of services of GCC Smart building Market and how they are poised to grow?
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