Published on : May 09, 2017
Albany, New York, May 09, 2017: ResearchMoz.us has added a new research report to its repository that offers an in-depth analysis of the global market for building automation and control systems. The report, titled, “Global Building Automation and Control Systems Market 2017–2021,” forecasts the market to expand at a healthy 9.52% CAGR from 2017 to 2021.
It has been noticed that while energy demand in emerging economies is spiking continuously, in their developed counterparts the focus is more on cost effectiveness and climate protection. Hence, state-of-the-art smart buildings are gaining traction, particularly in the developed first world countries. That, however, does not mean the developing nations are lagging far behind in terms of construction of smart buildings which are usually equipped with building automation and control systems that enhance operational efficiency and bring down overall energy consumption. They accord automatic centralized control and monitoring of different building lighting systems such as safety access system, and HVAC, among others.
Driving growth in the global market for building automation and control systems is the growing clamor for better energy efficiency and faster automation systems in building management. Some of the noticeable recent trends in the market is the rising use of personal assistants in residential buildings, leveraging of Internet of Things (IoT), swift uptake of LED lights, and growing dependence on wireless technologies.
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Building automation and control systems are mainly installed in residential, commercial, government, and other types of public buildings. Among them, commercial buildings account for maximum uptake of the systems and is trailed by residential and government buildings. Commercial buildings need relatively higher degree of monitoring and control than residential ones.
Depending upon the type of solution, the global market for building automation and control systems can be divided into four stages – stage 1, stage 2, stage 3, and stage 4. Geographically, the key segments of the market are the Americas, Asia Pacific, and the Europe, Middle East, and Africa. Asia Pacific, among them, is a key market on account of a burgeoning industrial sector, spike in demand for commercial office spaces, and the rising number of government regulations.
The global market for building automation and control systems is characterized by stiff competition on account of a fragmented and diversified landscape where numerous regional and international vendors are jostling for greater market share. Apart from tough competition, there are other challenges facing the vendors. One of them is catering to changing preferences of customers through continued product development. The expensiveness of such sophisticated systems is also said to be hampering their swift adoption.
To assess the competition prevailing in the global market for building automation and control systems, the report profiles key players such as Johnson Controls International, Automated Logic, Schneider Electric, Honeywell, Bosch Sicherheitssysteme GmbH, ABB, Emerson Electric, and Siemens.
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