Globally the Building Automation System Market is expected to reach ~ 100 Billion by 2022 at CAGR of more than ~13% from 2016 to 2022.
Global Building Automation System Market Information, by Network (Wireless, Wired), by End-User (Commercial, Industrial, Residential), by Product (HVAC, Surveillance System, Fire Protection System, Lighting Control System) - Forecast 2022
The Building Automation System Market is growing at the rapid pace; mainly due to the increasing adoption of IoT. According to a recent study report published by the Market Research Future, Globally, the market for Building Automation system is expected to gain prominence over the forecast period.
The market is forecasted to witness a thriving growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period.
Governments across the globe is implementing stringent rules & regulations by government to increase energy efficient solutions in construction industry; this trend is expected to boost the market of Building Automation System in the forecast period. Also, growing awareness towards safety & security at workplaces, and increasing interest of consumers towards green & smart building is also fuelling the market growth 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 The growing demand of cost effective Building Automation System by consumers is one of the major factors fostering the growth of the market. Other factors such as increasing IoT market and growing construction industry especially in developing countries are also expected to provide impetus to 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.
With growing technological advancements, Building Automation System has created its high demand in industries to effectively monitor emerging carbon dioxide & combine sensors, lighting control of a building, dimming systems, and conservation of energy resources. It has the ability of reducing maintenance cost of a building and diagnose an operational problem rather than arranging a maintenance crew to search and solve the issue.
Due to its high advantage over conventional building model it is attracting commercial, industrial and residential industry and propelling its market growth during forecast period 2016-2022.
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.
Building Automation System Global Market – Segments
The Global Building Automation System Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Network Connectivity : Comprises Wireless and Wired Network.
Segmentation By Product : Comprises Light Control Systems, HVAC Control Systems, Surveillance Systems, Fire Protection Systems, And, Management Software.
Segmentation By End-Users : Comprises Commercial, Industrial And Residential.
Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
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Key Players for Building Automation System Market:
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.)
Building Automation System Market – Regional Analysis
Geographically, North America is expected to dominate the Building Automation System market during the forecast period 2016-2022 due to growing implementation of Building Automation System in U.S. construction industry. Also, changing regulatory policies, increasing energy cost is adding fruitful growth in the market.
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 expected to perceive the fastest growth in Building Automation System market during forecast period 2016-2022. Increasing industrial growth in developing countries namely India, China and Japan is fuelling the market growth of Building Automation System in Asia-Pacific region.
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. Additionally, the growth in construction industry and increasing demand of smart buildings among consumers is driving the growth of this market.
Moreover, the growing investment by key players in the region is projected to bring high growth in the market by 2022. Considering all those aspects, Building Automation System market of Asia-Pacific has been evaluated to touch high growth figures in Asia-Pacific region during forecast period.
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