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Smart Building Market in Asia To Exceed $1,036 Billion by 2020
September 20, 2012
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It is commonly acknowledged that the new construction market will concentrate in Asia in the next decade, but it is also a rapid growing place for smart buildings. According to a recently published report by the Building Services Research and Information Association (BSRIA), the smart building market will grow from the current size of US$ 427 billion to US$ 1,036 billion in 2020, creating vast opportunities for advance building technologies and services.
Asia will consume 45% of world energy by 2030 and buildings are the big consumers. The unprecedented urbanization rate in Asia relies on smart buildings to reduce climate change impact. In Asia, smart building includes the concepts of green building and intelligent building, and there are key assessment criteria for these kinds of buildings in the region.
Smart cities realize a sustainable urban development in many Asian countries. Smart cities are more focused on the ICT infrastructure but also include eco, sustainable, green and low carbon cities.
Songdo IDB and Fujisawa are two smart cities under development in South Korea and Japan, and China has 36 smart cities underway. It is expected that Singapore will become a smart nation by 2015, and Iskandar is the flagship smart city in Malaysia. Delhi Mumbai Industrial Corridor is expected to be the smart city of the future India, and China is building a RMB 250 billion low carbon model city in Tianjin.
Net zero energy building is more a concept than a hard target in most Asian countries except Japan. Net zero energy buildings usually are used to demonstrate low carbon technologies.
Smart grid in developing countries is more important to upgrading the basic power grid infrastructure, while in developed countries it is about the grid communication system. In Asia, different countries are at different development stages in smart grid. It is more urgent for China and India to upgrade the power grid to accommodate growing power demand, and the government in China has promised US$150bn to upgrade various aspects of the power grid.
The BSRIA report finds that Asia will account for 43% of the global construction market by 2020, and that China, India, Japan and Indonesia will be the biggest in the region. The Asian smart building market will reach US$1,036 billion in 2020, driven by urbanization, smart cities and government commitment on carbon reduction.
Source: BSRIA
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