Smart buildings market to grow four-fold to $328.6bn by 2029

The global smart buildings market is poised for solid growth over the next few years with its value projected to grow from $80.62 billion this year to $328.62 billion by 2029 with a CAGR of 22.2%, said a report released ahead of The Technical Seminar Series being organised by Superior Essex Communications across the Middle East.

These seminars will be held in select GCC states under the theme of “Smart and Sustainable Technologies for Intelligent Buildings”.

The first of the seminars will be held in Kuwait on October 17 followed by Doha (October 18); Abu Dhabi (October 20); Muscat (October 31) and Dubai (November 2).

“The Middle East and North Africa will be contributing significantly to the growth of the global smart buildings market due to an increasing demand for energy efficient intelligent building solutions,” stated Paul Weintraub, Director of International Business at Superior Essex Communications, citing the Fortune Business Insights Industry Report on the global smart buildings market.

The growing concerns of increasing energy consumption worldwide are expected to fuel more advanced and energy efficient technologies, he noted.

“We see a distinct opportunity to support developers in this region who want to harness the power of our sustainably made cables in deployment of sustainable technologies in their smart buildings,” said Weintraub.

For the seminar series Superior Essex Communications is partnering with Microsens, MHT Lighting, Topnet and Fluke Networks to host the series of seminars demonstrating the latest advancements in sustainable technology innovations and solutions for smart buildings.

Representatives from the collaborating companies will share insights to demonstrate how smart buildings benefit from deploying sustainable technology, including sustainable solutions.

“Intelligent and smart buildings are on the increase to meet the ever-increasing need for connectivity and energy efficiency,” remarked K. Ganesan, the Managing Director of Topnet Distribution.

“The buildings are being designed to be green and sustainable. This requires innovative technologies to be used for telecommunication and power distribution in intelligent buildings. The seminars will cover the latest innovations and solutions that meet the needs of intelligent buildings,” he added.