Friday, July 11, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Markets

Markets: Increasing use of smart lighting systems assist in energy conservation in India

Fiinews by Fiinews
August 9, 2023
in Markets
Reading Time: 4 mins read
A A
0
Honeywell
0
SHARES
16
VIEWS
LinkedinShare on Twitter

0:00

Businesses concentrating on segregating BAS system, says report

India’s increasing use of smart lighting systems may assist in energy conservation, and such initiatives would further supplement the growth of the market which is expected to reach US$570.02 billion by 2030 globally, registering a CAGR of 26.8% from 2023 to 2030, according to a report.

For instance, the Energy Conservation Building Code (ECBC), developed by the Indian government, established minimal energy performance requirements for structures, covering the building exterior and heating, cooling and air conditioning, said the ‘Smart Building Market Size, Share & Trends Analysis’ report by ResearchAndMarkets.com.

“Smart buildings depend on several IoT sensors and computer networks to automate functions, such as managing lighting, heating, and elevators; fire detection; video surveillance; and badge access,” added the report on 8 Aug 2023.

Governments worldwide are making significant investments in smart city initiatives, propelling the adoption of smart buildings in different regions. The governing bodies are predicted to be the strongest promoters of smart and cutting-edge solutions that facilitate adaptive regulations and enable disruptive entries, safeguarding the interests of the public and the city, it elaborated.

Businesses are now concentrating on segregating the BAS system from the entire network system and the internet to secure it. These solutions offer real-time monitoring and identification of new threats and respond autonomously. All these efforts are expected to play a vital role in driving the growth of the market over the forecast period.

Smart buildings have more opportunities to play a major role in self-generation or grid-supplied energy, increasing the demand for non-carbon or low-carbon solutions for managing building energy.

In the past., smart building management systems have been utilized to minimize energy costs and successfully serve the functional requirements of buildings. Due to the high implementation costs, these systems have typically been proprietary and have primarily been used in huge buildings or large groups of buildings, according to the report.

Artificial Intelligence (AI) and Machine Learning (ML) can provide ways to examine building data to enhance the effectiveness of numerous building operations as well as the building’s capacity for revenue generation. All these efforts are expected to play a vital role in driving the growth of the market over the forecast period, said the report.

Key players have an extended operating history, a large customer base, and significant competitive strengths. For instance, in February 2022, Cisco Systems, Inc. launched new solutions, including Private 5G and Wi-Fi 6E, for hybrid work. The company also planned to collaborate with campuses, branches, and offices of various sectors to integrate these products and convert them into smart buildings. This helped the company in increasing its market revenue and attracting key business clients from the telecommunication sector.

Smart Building Market Report Highlights:

The building infrastructure management segment is expected to observe a CAGR of 25.2% during the forecast period. The extensive growth of smart building infrastructure services expedites advanced infrastructures, such as automated solutions, advanced telecommunication networks, and data centers, among others;

The consulting segment is expected to observe a CAGR of 28.7% during the forecast period. Smart building projects have the most significant financial impact if an organization’s operational and structural systems are integrated;

To describe what data is being gathered, how it is exchanged, and how it may be used in the next system that will profit from this new data, smart building consultants group these integrations into use cases. Smart building consultants also serve in a management role during construction, ensuring that submittals comply with requirements;

The industrial segment is expected to witness a significant CAGR of 25.7% during the forecast period. Smart industries are built to continuously collect data and analyze issues with their systems. Data can assist businesses in making wise decisions and having a smart building means having access to the latest information on operational costs;

The Asia Pacific regional market is expected to reach US$166.45 billion by 2030. The shifting focus of consumers toward converting their existing buildings into smart buildings is boosting the region’s growth;

For instance, in January 2022, Singtel, a telecommunication company, announced its collaboration with Lendlease, a real estate group, to convert its Comcentre headquarters in Singapore into a smart building with an investment of US$2.21 billion.

Industry leaders are:

ABB

Cisco Systems Inc

Huawei Technologies Co Ltd

Robert Bosch GmbH

Honeywell International Inc

International Business Management Corporation

Ericsson

Schneider Electric SE

Siemens AG

General Electric. Fiinews.com

Tags: ResearchAndMarkets
ShareTweetShare

Related Posts

Sai
Markets

Market: Sai Parenterals goes global

by Fiinews
July 11, 2025
0
20

Samarsh, Vyom Partners, Blue Lotus support expansion plans Hyderabad’s Sai Parenterals Limited has completed a US$5.82 million (Rs.50 crore) equity...

BMW Group India
Markets

Market: India is success strategy for BMW

by Fiinews
July 9, 2025
0
16

Brar takes charge at BMW Group India India is among the fastest growing markets and an important pillar of the...

RtBrick

Market: RtBrick expands Indian engineering team

July 9, 2025
15
HT Labs

Market: HT Labs signs cross-border innovation MoU

July 9, 2025
24
PIB

Market: India gets support for 2026 BRICS chair

July 8, 2025
17
World Steel

Market: China steel imports down 47.7% in Apr-May

July 8, 2025
22
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Project: Japanese delegation inspects DMIC progress
  • Project: Mindset change is critical for innovation
  • Project: 4,000% in installed solar capacity
  • Project: EV policies part of climate goals
  • Tech: ansrsource-ANSR reshape talent across India

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.