Building Automation and Controls Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
The Internet of Things (IoT) plays an important role in building automation and control. The phenomenal growth of the IoT industry is, therefore, a shot in the arm for the global building automation and control market. Additionally, continuous advancements in the IoT technologies are allowing manufacturers in the market to take a transformational leap forward towards improved systems. Besides this, the emergence of wireless technologies and their paraphernalia is stoking the growth of the market. The demand for building automation and control systems is likely to remain high across commercial buildings, primarily due to favorable government initiatives.
On the flip side, the high cost of implementation of these systems is limiting their widespread adoption. Moreover, the dearth of skilled personnel and technical issues associated with existing technologies are inhibiting the growth of the building automation and controls market. The lack of a common communication protocol across all geographies is also acting as a stumbling block for the global building automation and controls market. However, developing regions will offer ample growth opportunities owing to rapid infrastructure development.
The presence of a raft of regional and international companies has rendered the global building automation and controls market highly fragmented. In order to overcome the fierce competition that a fragmented arena invariably bears, players are banking on growth strategies such as technological advancements and mergers and acquisitions. The soaring need for energy efficient systems is making the market highly opportunistic. However, the changing preferences of consumers and the low scope of product differentiation are some of the major challenges for market participants.
The building automation and controls market has been in existence since long. And, over the years this market has grown substantially. The system is widely used in residential, commercial, institutional, and public buildings to controls and monitor system such as security, CCTV, fire alarm system, power monitoring, elevators and escalators.
Increasing security concerns and more stringent governmental regulations for building constructions has given the much desired push to the market growth. High rate of construction and large number of buildings are continuously coming up. Shopping malls, office buildings, educational institutes, hotels, and hospitals, they all require automation and control devices, hence becoming an integral part of building designs and construction.
In recent years, terror activities have doubled. With frequent terror attacks in schools, shopping malls and football grounds, it has become important to keep a vigilant eye on mostly every building and areas of mass gathering. Also, in large organizations, it is impossible to manually keep eye on each and every visitor, thus automatic systems become a necessity. Considering safety as a factor, the building automation and control market is expected to grow further in the next few years. There is high demand for security, access control, and HVAC devices in the market. HVAC holds the highest market share. Whereas, security and access control are the second largest segment in building automation and controls market. Wireless technologies are also catching up and becoming popular in the market.
The building automation and controls market is segmented on the basis of types, application, and geography. Types of devices include lighting control, security control, HVAC control, outdoor control, entertainment control, communication standards and protocols. Applications include commercial, institutional, residential, industrial and other buildings.
The major drivers for the building automation and controls market include rising demand of energy efficient buildings, user friendly devices and enhanced security through building automation and controls. Moreover, rising awareness of wireless technologies and integration of wired and wireless technologies is expected to contribute to the building automation and controls market growth in the future.
In terms of geography, Asia Pacific is projected to contribute to the growth of the global building automation and controls market. The construction industry is booming and is expected to grow further. Various government initiatives has also added to the market growth.
Europe, North America, and Rest of the world (ROW) are other regions that aid the growth of the market. Support of power line communication, wireless technology, global sporting events such as Olympics and World Cup have been instrumental in the growth of the global building automation and controls market.
The key players in the global building automation and controls include Schneider Electric, Honeywell International Inc., Siemens Building Technologies, Johnson Controls, and United Technologies Corp.
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report