The synced state with technological advancement is assisting the building automation system market in accelerating in terms of growth. It increases the efficiency of the associated systems by bringing them under a single purview and easing the monitoring and controlling process. The global building automation system market is expected to rise with 13% CAGR during the forecast period (2016-2022). In its process of cementing foothold, it can cross the USD 100 billion mark by 2022, claims Market Research Future (MRFR) in a comprehensive report. The system encompasses mechanical infrastructure, security, fire, lighting, HVAC, and humidity control. The finished building is more commonly known as an intelligent building or smart building which lessens the consumption of energy by almost 50% during the construction in compared to that of traditional buildings. This reduction directly impacts maintenance cost as well. The building automation system market is further getting encouraged by increasing use of IP-based communication and pervasiveness of automation, along with, demand for the internet of things (IoT) running rife. Emerging economies are also supporting the infrastructure by backing up the market with superior infrastructure.
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Despite such advantages, the building automation system market can receive a few blows during the forecast period. Lack of skilled hands and technical drawbacks can deter market growth. But these can only have situational impacts, that too, not for long. This system supports eco-friendliness and can bask in the growing demand for homes that leave a little carbon footprint.
Some of the major players in Global Building Automation System Market includes ABB Ltd. (Switzerland), Cisco Systems, Inc. (U.S.), Robert Bosch GmbH (Germany), Siemens AG (Germany),Crestron Electronics, Inc. (U.S.), Delta controls, Inc. (U.S.), Rockwell Automation (U.S.), Schneider electric SE (France), General electric (U.S.), Honeywell International Inc. (U.S.), Lutron Electronics Co., Inc. (U.S.) and others.
The Building Automation System market can be segmented into its network connectivity, products and end-users. By network connectivity the market includes wireless and wired connectivity. By product, it is categorized into light control systems, HVAC control systems, surveillance systems, fire protection systems, management software and others. By End-user segment it is categorized into Commercial, Industrial and residential sectors.
Market Research Analysis:
Geographically, North America is expected to dominate the building automation system market during forecast period 2016-2022. The growing investment by organizations to increase their productivity and growing market of smart infrastructure in U.S. and Canada countries is driving the high market growth of building automation system in the region. Europe is also showing high growth opportunity in the building automation system market due to high demand of energy efficient commercial, and residential infrastructure. Also, increasing deployment of sensors in smart control system to ensure safety & security in the public as well as private places is expected to fuel the market growth in coming years. Furthermore, Asia-pacific is witnesses to be the fastest growing region for building automation system market during forecast period 2016-2022 due to growing developing economy such as India, China, Japan, and, Singapore and growing need of biometric based security systems in the buildings. Also, companies such as Siemens, Schneider electric, and Honeywell automation are among those key players who are investing in deployment of system integration & solutions in building automation & control systems in India. The growing investment by key players in the region is projected to bring high growth in the market by 2022.
- Network service providers
- Real estate
- Software vendors
- Suppliers & distributors
- Research & consultancy
- Technology providers
- Cloud and network service providers
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Table of Contents:
LIST OF TABLES
Table 1 Global Building Automation System Market, By Network Connectivity
Table 2 Global Building Automation System Market, By Product
Table 3 Global Building Automation System Market, By End-User
Table 4 Global Building Automation System Market, By Regions
LIST OF FIGURES
Figure 1 Research Process
Figure 2 Global Building Automation System Market: By Network Connectivity
Figure 3 Global Building Automation System Market: By Product
Figure 4 Global Building Automation System Market: By End-User
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