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Global Building Automation System Market was valued US$ XX Bn in 2019 and is expected to reach US$ 165.87 Bn by 2027, at CAGR of XX % during forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Rapid infrastructure growth focuses on designing and establishing energy-efficient and eco-friendly buildings. In developing nation the commercial buildings are the major consumers of BAS, which drives the growth of BAS market for commercial applications. The market growth can be attributed to the increase in awareness about energy conservation and favourable government initiatives supporting adoption of the BAS market.
Building automation systems include wireless protocols and wireless sensor network technology and the internet of things (IoT) are the critical factors driving the growth of the BAS market. Raising the demand for security solutions increases the need for advanced technology. Worldwide governments are also investing heavily to develop reliable security systems for safeguarding their citizens from terrorist attacks. Growing demand for system integration in commercial and residential applications is currently acting as one of the key drivers for the global BAS market growth.
Market growth is further supported by the numerous emerging trends such as cloud connectivity, internet of things (IoT), mobility or apps, and wearable devices, among others for smart buildings. Huge range of market opportunities can be seen in the field of artificial intelligence techniques that will be simultaneously synced with business enterprise software.
At the same time, the major restraining factors in the global BAS market include the high initial cost required for the purpose of designing and setting up any BAS system. The growing level of innovation in several wireless technologies and initiatives taken up by the governments, manufacturers and facility managers in order to create awareness about the benefits of BAS among the customers is likely to lower down the impact of this inhibiting factor.
North America is expected to be a leading region in building automation systems, followed by Western Europe, owing to the presence of key players in this region. But the Asia Pacific is expected to witness a high growth rate over the forecast period particularly in the construction industry in countries such as China and India. South America is expected to grow moderately in this market as countries like Brazil are opening up to new technologies. The Middle East and Africa market are impacted by the UAE’s market, which is fast in adopting new technologies and will help the market grow.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the 8K Technology Market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the 8K Technology Market.
Scope of Global Building Automation System Market:
Global Building Automation System Market, By Communication Technologies:
• Wired Technologies
• Wireless Technologies
Global Building Automation System Market, By Offerings:
• Facility Management Systems
• Fire Protection Systems
• Security and Access Control Systems
• BAS Services
• Building Energy Management Software
• Lighting Control Systems
• HVAC Control Systems
Global Building Automation System Market, By End-user:
• Public Assembly
• Retail & Service
Global Building Automation System Market, By Application:
• Residential Applications
o DIY Home Automation
• Commercial Applications
o Office Buildings
o Retail and Public Assembly Buildings
o Hospitals and Healthcare Facilities
o Airports and Railway Stations
• Industrial Application
Global Building Automation System Market, By Region:
• North America
• South America
• Middle East & Africa
Key Players Operated in Market Include:
• Honeywell International, Inc.
• Johnson Controls, Inc.
• Siemens AG
• Delta Controls
• Robert Bosch GmbH
• ABB Ltd.
• Hubbell Inc.
• United Technologies Corp.
• Schneider Electric SE
• Emerson Electric Co.
• Mitsubishi Electric Corporation
• Ingersoll-Rand PLC
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