Industry Background:
The increased focus on cybersecurity for smart commercial buildings is driven by the ever-growing number of networked IoT devices and the convergence of IT security. Because of the development of the commercial building is turning smarter to become more comfortable, more energy-savvy, and more self-sustainable. The smart buildings heavily rely on interconnected and networked physical control sub-systems including heating and air conditioning devices, alarms, access control, and video surveillance systems, elevators, smoke detectors, and others. Though, this continuous interconnection of IoT devices makes smart buildings increasingly susceptible to cyber-attacks with expensive and destructive consequences.This growth is primarily driven by Development of Smart City Projects
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Systems Software sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Nelysis (United States), Accenture (Ireland), Acuity Brands (United States), Realcomm (United States), IIoT World (United States), IBM (United States), Intelligent Buildings (United States), ARC Advisory (United States), Advanced Microgrid Solutions (United States) and ABB (Switzerland), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In October 2023, Honeywell acquired CyberRes. This acquisition will strengthen Honeywell's position in the cybersecurity for smart commercial buildings market and expand its reach into the industrial Internet of Things (IIoT) security market.The market is fragmented by market players who are focusing on production technologies, improving efficiency, and shelf life. With the increase in market opportunities that can be captured by tracking the ongoing process improvement and financial flexibility that invest in market growth strategies.
Influencing Trend:
Increase Investment in Research and Development, Continuous Advancement in Technology and Rising Awareness towards Cyber Security Benefits
Market Growth Drivers:
Development of Smart City Projects, High Availability of Smart Components Such as Sensors, Actuators, Microchips, and Others and Growing Demand of Commercial Applications Such as Smart Office Building, Healthcare Facilities, Education Facilities, and Others
Challenges:
High Cost Associated With Cyber Security in Smart Commercial Buildings
Restraints:
The Slowdown in Economy Because of the Covid-19 Pandemic
Opportunities:
Increasing Number of Smart Building Enables With IoT Systems, The Rise in Cybersecurity Threats and Development in Integrated Building Network
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Cyber Security In Smart Commercial Buildings Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Cyber Security In Smart Commercial Buildings Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Cyber Security In Smart Commercial Buildings players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Cyber Security In Smart Commercial Buildings Study Sheds Light on
The Cyber Security In Smart Commercial Buildings Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Cyber Security In Smart Commercial Buildings industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Cyber Security In Smart Commercial Buildings industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.