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Smart Buildings Market Size to Reach USD 141.71 Billion in 2028 | Rise in Adoption of IoT Enabled Building Management Systems and Increasing Construction and Industrial Activities to Build Smart Infrastructure are Key Factors Driving Industry Revenue, says Emergen Research

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The global smart buildings market size was USD 66.29 Billion in 2020. Rapid increase in smart city projects in various countries, rising focus on more efficient space utilization, and emerging 5G technology in developing countries are key factors driving market revenue growth.

Drivers: Rising adoption of IoT-enabled BMS

IoT-enabled building management systems and devices facilitates smooth functioning, monitoring, and management of smart buildings. IoT-enabled Building Management System (BMS) installed in smart buildings use sensor generated data, which improves building efficiency and enhances building occupant user experience. Furthermore, IoT-enabled devices consist of a wide range of sensors, actuators, and smart objects, which are used for various purposes such as reducing energy cost and repairing and maintaining building systems.

Restraints: Rising security concerns owing to IoT-enabled devices

Adoption of smart technology and IoT-enabled devices pose security threats to smart buildings. IoT devices and smart technology when connected to building systems are vulnerable to cyberattacks. Deployment may provide opportunity to hackers to access confidential and personal information and could compromise tenant safety and cause serious damage and risks.

Free Sample PDF Copy of the Report Available@ https://www.emergenresearch.com/request-sample/876

Growth Projections

The global smart buildings market size is expected to reach USD 141.71 Billion in 2028 and register a revenue CAGR of 9.9% over the forecast period, according to the latest report by Emergen. Increasingly stringent industry standards and regulations, growing focus on efficient energy consumption, and rising investment in smart technologies are key factors driving global smart buildings market revenue growth.

COVID-19 Direct Impact

The COVID-19 pandemic had adversely affected countries across the globe. As restrictions and lockdowns were eased, organizations and commercial buildings have reopened, and focus has increased on new services and activities to re-organize workplaces. Currently, organizations are exploring options for enabling smarter workflow, more efficiently managed facilities, and safer and healthier workplace, which is boosting demand for smart buildings solutions.

Current Trends and Innovations

In June 2021, Endeavor Business Media, LLC announced launch of smart building technology that will bring integrated intelligence to new constructions and existing commercial buildings. This technological development will offer support to latest communication systems, intelligent building systems, tenants health and safety, and will reduce energy consumption, among others.

Geographical Outlook

Market in North America accounted for a significantly robust revenue share in 2020 owing to increasing number of smart city projects. Increasing investment in green building technologies in the U.S. is also supporting revenue growth of the market in the region.

Market in Asia Pacific contributed significantly in terms of revenue share to the global smart buildings market in 2020 and is expected to register a rapid growth rate over the forecast period. China’s share is expected to expand at the fastest rate during the forecast period.

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Strategic Initiatives

In May 2021, Siemens AG collaborated with Telefonica Tech to offer intelligent building solutions and services to the Spanish market. This collaboration will enable both companies to provide advanced and improved solutions, including physical security, monitoring, smart lightning, predictive maintenance, and operational efficiency.

Some Key Highlights From the Report

  • Heating, Ventilation and Air Conditioning (HVAC) segment accounted for moderate revenue share in 2020, which is expected to expand at a steady rate over the forecast period owing to dual benefit of heating and cooling system in one unit. HVAC system helps to clean air and provides warm or cool air depending on climate and changes. It also helps to control and purify polluted air entering a building and improves air quality.
  • Consulting segment accounted for significantly large revenue share in 2020 and is expected to register a rapid growth rate over the forecast period. Consulting helps to minimize risks, manage liabilities, and helps to improve management of a building.
  • Residential segment accounted for significantly large revenue share in 2020 and is expected to register a moderate growth rate over the forecast period owing to high demand for advanced technologies such as Business Information Modelling (BIM), Artificial Reality (AR), and Virtual Reality (VR), and building automation.
  • Some major companies included in the global market report are Cisco Systems, Inc., Honeywell International Inc., Johnson Controls Internationals, Hitachi Ltd., Schneider Electric, ABB Ltd., Legrand, Siemens AG, Robert Bosch GmbH, and Telit.

Have a look at Report Description and Table of Contents of Market Report@ https://www.emergenresearch.com/industry-report/smart-buildings-market

Emergen Research has segmented the global smart buildings market on the basis of automation type, service type, building type, and region:

  • Automation Type Outlook (Revenue, USD Billion; 2018–2028)
    • Building Management System (BMS)
    • Heating, Ventilation, and Air Conditioning (HVAC)
    • Lightning Control System
    • Emergency Alarm and Evacuation System
    • Audio and Visual Effects
    • Video Surveillance System
    • Elevators and Escalators Systems
    • Fire and Life Safety Alarm
    • Energy Management
    • Others
  • Service Type Outlook (Revenue, USD Billion; 2018-2028)
    • System Integration and Deployment
    • Support and Maintenance
    • Consulting
  • Building Type Outlook (Revenue, USD Billion; 2018–2028)
    • Commercial Buildings
    • Residential Building
    • Governmental and Public Infrastructure Facilities
    • Educational Institutions
    • Others

Christmas & Year End Discount Available on Smart Buildings market report@ https://www.emergenresearch.com/request-discount/876

  • Regional Outlook (Revenue, USD Billion; 2018–2028)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
      • Spain
      • BENELUX
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of APAC
    • Latin America
      • Brazil
      • Rest of LATAM
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Rest Of MEA

Explore Related Reports by Emergen Research:

The global construction equipment rental market was valued at USD 97.70 Billion in 2019 and is anticipated to reach USD 135.77 Billion by 2027, at a CAGR of 4.1 % during the forecast period.

The global structured cabling market size reached USD 10.86 Billion in 2020 and is expected to register a CAGR of 4.1% during the forecast period.

The global insulating glass window market size reached USD 12.65 Billion in 2020 and is expected to register a CAGR of 4.5% during the forecast period.

The global long steel market size is expected to reach USD 701.69 Billion in 2028, and register a CAGR of 3.6% during the forecast period.

The global construction market size reached USD 12,639.41 Billion in 2020 and is expected to register a CAGR of 7.4% during the forecast period.

Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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