NORTH AMERICA

Global warming is driving green building development

Because of the rampant industrialisation and commercialisation , the building and construction industry is growing significantly , to satisfy the increasing demand for space for residential and business purposes .

Resulting from the surge in the production of energy , carbon releases are growing at a shocking rate worldwide . Consequently , to cope with the high energy needs without causing any environmental damage , governments are focusing on green buildings .

P & S Intelligence majorly credits this growth to the increasing demand for energy , implementation of sustainability legislations , extensive usage of building automation solutions and ever-changing prices of crude oil .

Internet of Things usage is set to grow at highest rate

The IoT category is set to lead the industry and experience rapid growth in the coming years . This will mainly be due to the growing awareness regarding the environmental and health problems because of the emission of carbon .

Further , to avoid the wastage of energy and gather energy consumption data , such technology is useful in several applications , such as factories , hospitals , power grids , utility meters , hospitals , homes , city administrations , offices and smart transport .

The purpose of green building technologies is to decrease the consumption of energy and utilise only the electricity generated on-site , through rooftop solar panels , Building Integrated Photovoltaics and other renewable energy sources .

Solution usage among SMEs to grow faster

The SMEs category is projected to accept eco-friendly technologies at a higher rate of growth in comparison to larger enterprises , since the contribution of small enterprises is massive for any nation ' s economy . Due to this , the augmenting acceptance of cloud computing technologies and IoT by small- and medium-sized enterprises will continuously drive the revenue for solution providers in the coming years .

North America is rapidly adopting green technologies

In 2022 , North America led the green technology and sustainability market , and it will stay on this path in the future . This is credited to the surge in the government effort to decrease carbon releases and the quick uptake of power-saving technologies in the continent .

A number of megacities in the US , including New York City , Los Angeles and Denver , have set ambitious green building targets . Additionally , the Biden Administration has announced plans to have over 50 % lower emissions in 2030 than in 2005 . �

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