The Latin America, Middle East and Africa Smart Space Market would witness market growth of 12.7% CAGR during the forecast period (2020-2026). With the rise in the sustainable green building initiatives owing to penetration of technology and environmental concerns in our day-to-day life, there is a rise in the growth of the adoption rate. Green buildings majorly focus on the effective lifecycle, efficiency, and performance of the building. These buildings are largely dependent on smart technologies that are combined with the entire system to improve the functions and performance of the building.
These technologies store valuable data and also analyze them and then provide the relevant personnel with necessary inputs. When sophisticated communications and control systems are integrated into the building from the foundation, the Opportunities for various innovations opens. A more comfortable built environment can be made by the application of smart construction, while at the same time it reduces the site’s carbon footprint. Self-sustaining buildings are one of the best solutions that will meet the energy demand and ever-growing technological as well as many countries’ stated objectives of liberation from carbon-based energy sources.
Smart space is shifting the way engineers and designers make new product designs and modifications. With the application of smart space, it become easier to manufacture complex products with complex geometries. The application of software has also increased across industrial manufacturing, automotive, and aerospace and defense verticals. Furthermore, the usage of smart space software for designing building plans and large construction projects is anticipated to grow swiftly in the architecture, building, and construction industries.
Based on Component, the market is segmented into Solutions and Services. Based on Application, the market is segmented into Energy Management & Optimization, Emergency Management, Security Management and Others. Based on Premises Type, the market is segmented into Commercial, Residential and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Smart Space Market in LAMEA is expected to register a CAGR of 12.7% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Cisco Systems, Inc., Siemens AG, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), IBM Corporation, Schneider Electric SE, Hitachi, Ltd., Nemetschek Group (Spacewell International), SmartSpace Software PLC and Avnet, Inc. (Softweb Solutions, Inc.)
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Companies Profiled
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