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.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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