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 Synopsis of Building Automation System Market:
Smart buildings are a growing trend and a need of the future due to the vertical growth pattern of the real estate industry. The building automation system also called as intelligent building, smart building is a control system used to monitor & control the security, mechanical, illumination, climate and ventilation, access and movement and others in the infrastructure. The globally Building Automation System Market is expected to grow at a handsome CAGR rate of more than ~13% from 2016 to 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.
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Segments for Building Automation System Market:
- Network connectivity: Wired and Wireless network.
- Product: HVAC control systems, Light control systems, fire protection systems, surveillance systems, and, management software.
- End-Users: Commercial, Industrial and residential.
Regional Analysis of Building Automation System Market:
Geographically, the report is differentiated in regions such as North America, Europe, Asia Pacific, and Middle East and Africa.
North America is expected to lead the market with the U.S. to be the largest due to enlarging adoption of building automation system. Europe is expected to be the second largest market which is expected to be led by Germany and France. However the Scandinavian region countries are expected to be the fastest growing market in European region. Asia-Pacific is anticipated to be the fastest growing building automation system market over the forecast period. Japan is expected to be the largest market in the Asia Pacific region, while China is expected to be the fastest growing market. South Korea and India are other regions of high growth.
The development of a large industrial base in China and India and the growing cost of noncompliance of building regulations and workplace hazards in these industries are expected to be a strong driver of the market.
The Middle East and Africa market for is expected to be led by the Gulf. The Gulf economies such as Abu Dhabi, Dubai, Saudi Arabia and others are expected to be very rich markets due to their high revenues and per capita income and their service led economies. The African market is expected to yield moderate growth due to lack of urbanization and poor socio-economic conditions.
Key trends and developments
Growing cloud interfaces – the advantages of cloud such as no need of installation and maintenance, remote access through connected device is expected to be the chief driver.
Big data and machine learning – big data provides insights from a larger sample which can then be fed to machine learning algorithms to find patterns and commonalities. Thus it is expected that big data will provide more analytical power resulting in greater efficient operations. For example, music optimized to the liking of the crowd can be played by using data from previous and current interest of the customers of a mall. In fact Pandora music streaming application makes automated recommendations based on the music listener’s likes and interests.
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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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