Building Automation System Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Building Automation System Market: Overview
With escalating population and rapid urbanization across the world, the need to conserve energy is paramount. It is estimated that buildings consumer nearly 40% of the World’s energy consumption. In this scenario, new technologies such as the Internet of Things (IoT) has paved a way for building automation system, with which energy consuming facilities including heating, lighting, air conditioning, and ventilation can be efficiently managed. The concept of building automation system is application not only for the new constructions but for the existing residential buildings too, and promises to prove as a highly useful concept for commercial buildings as well as revolutionize the healthcare sector. Consequently, the demand in the global building automation system is anticipated to increment at a healthy growth rate during the forecast period of 2017 to 2025.
Global Building Automation System Market: Key Trends
One of the primary property of building automation system is that they can be customized according to the need of the end-user, which can be either cost-efficiency with minimal automation or premium automation with a long-term goal. This factor is expected to augment the demand in the global building automation system market. In addition to that, several governments in developed as well as developing economies are offering lucrative subsidies for processes that conserve energy, and thereby encouraging the residential and commercial building owners to choose for these system. For instance, with building automation system, residential buildings can monitor and control security, HVAC, and lighting. Conversely, high implementation cost, long duration of return of investment, and lack of awareness among the consumers are some of the key factors challenging the market for building automation system from achieving its full potential.
Global Building Automation System Market: Market Potential
Increase in the use of personnel assistant in residential buildings, growing use of the Internet of Things, rising popularity of LED lights, and increased reliance on wireless technologies are some of the key factors favoring the global market for building automation system. In addition to that, growing security concerns is escalating the need to add strength to security, control personnel access, and monitor activity. With IoT, building automation system can also provide real-time medical help, which is opening various new opportunities for the players in this market. On the other hand, commercial applications such as shopping complexes, public transport areas such as airports and railway stations, and corporate office buildings are other targetable avenues for the participants of the global building automation system market.
Global Building Automation System Market: Regional Outlook
Developed countries such as the U.S., the U.K., Canada, France, and Germany currently offer most of the demand for building automation system and makes North America and Europe as the most lucrative regions. However, Asia Pacific resides several emerging economies such as India, Japan, China, South Korea, and Malaysia. These countries are investing heavily towards improving their infrastructure and consequently, the construction industry is thriving. Increasing disposable income among the urban population in Asia Pacific region is adding to the demand for secure and efficient residential and commercial environment and hence is expected to expand the demand at most robust rate during the forecast period.
Global Building Automation System Market: Competitive Landscape
Due to the presence a large number of players who operate at regional or international level, the global market for building automation system is fragmented in nature with high degree of competition. However, as the demand to conserve energy escalates across the world, there is enough fodder for everyone. Some of the leading players in the global building automation system market are Automated Logic, Honeywell, Johnson Controls International, and Schneider Electric, whereas other prominent vendors including Bosch Sicherheitssysteme GmbH, Dwyer, Emerson Electric, Beckhoff Automation, ABB, DELTA CONTROLS, CONTROL4, Distech Controls, Evon Technologies, Itron, and Legrand.
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.
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