Market Research Future published a research report on “Building Automation System Market Research Report - Global Forecast to 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
— Market Scenario
The building automation system is a distributed control system designed especially to monitor & control the mechanical, security, fire, lighting, HVAC and, humidity control systems in an infrastructure. The complete autonomous control of a building and its entire facility is the major purpose of building automation system. It supports maintaining the building climate, light rooms, monitor performance & device failures and provides malfunction alarms. The building automation system is also referred as intelligent building, smart building, or a smart home. The traditional method of construction consumes more than 50% of energy which also increases cost of maintenance. The building automation system is able to monitor and control various functions of an intelligent building thereby save energy and related cost. Also, the increasing use of IP-based communication and automation technology is anticipated to further boost the development of building automation system market.
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The growing demand of cost effective building automation system by consumers is one of the major factor driving the growth of the market. Other factors such as increasing IOT market, growing construction industry especially developing countries are also expected to drive the growth of building automation system market. However, technical limitation and lack of skilled expertise is expected to hamper the growth of building automation system market during forecast period 2016-2022.
Globally the Building Automation System Market is expected to grow at the rate of more than ~13% from 2016 to 2022.
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 global building automation system market can be segmented by network connectivity, product, and end-users.
Based on network connectivity, the global building automation system market can be segmented into wireless and wired network.
Product-wise, the building automation system market includes light control systems, HVAC control systems, surveillance systems, fire protection systems, and management software. Surveillance systems segment is gaining huge popularity in urban areas with an increasing number of criminal activities getting registered.
Based on end-users, the building automation system market comprises commercial, industrial, and residential. Shopping complexes are integrating the system more than ever now which is giving commercial segment significant traction.
Region-specific approach to the building automation system market spans across North America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA).
North America is currently having a great run in the market as it is generating the maximum revenue share. The market is benefitting much from the construction industry as they have increased the number of automation system implementation in new buildings. Furthermore, the region enjoys implementing the latest technologies into the system which gets amply backed by superior infrastructure. With people earning more than any other regions, investment capacity for such homes is quite high which is providing thrust to the market. Government policies have been relaxed which is also fanning the growth of the building automation system market.
The APAC region is changing the market demography and is touted to become the fastest growing region during the forecast period. Emerging economies such as India and China are witnessing industrial expansion which is providing scope for the building automation system market to penetrate and settle there for a better prospect.
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• Network service providers
• Real estate
• Software vendors
• Suppliers & distributors
• Research & consultancy
• Technology providers
• Cloud and network service providers
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Source URL: https://marketersmedia.com/building-automation-system-market-size-share-key-players-analysis-growth-factors-segmentation-emerging-opportunities-competitive-landscape-and-regional-forecast-2022/505187
Release ID: 505187