Smart Building Market Research Report
The global smart building market is expected to witness growth in the market during the forecast period due to the rising adoption of the Internet of Things (IoT), which enabled the increased usage of building management system and the rising awareness of space utilization globally. According to smart building market forecast, the growing awareness related to energy consumption and the rising number of initiatives associated with environmental concerns will encourage the usage of smart building systems to save money, time, and energy. For example, in 2017, the Public Service and Procurement Canada (PSPC) executed the Smart Building initiative, emphasizing 100 buildings across Canada. Several economies such as Dubai has introduced the "Dubai Plan 2021", focusing on converting the city into a "smart city" by using innovative technology, smart policies, and digital tools. The rapid development of smart cities will fuel the growth of the smart building market size.
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