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Building automation systems (BAS) are autonomous systems that can control the various modern systems within a building. It uses logic algorithms for providing directions to various electric systems and includes variable air volume (VAV) boxes, HVAC systems and rooftop units, vents and exhaust systems, elevators and lifts, fire alarms, lighting systems, and plumbing systems. The global building automation system market report by Market Research Future (MRFR) contains the latest drivers, restraints, opportunities, and trends for the period of 2016 to 2022 (forecast period). The outbreak of the COVID-19 virus and its impact on the industry has been explored.
The global building automation system market is expected to grow to a magnanimous size of USD 100 billion by 2022. It can grow at a CAGR exceeding 13% over the forecast period.
The increasing demand for cost-effective building automation systems is one of the biggest drivers of the market. The dependence of IP-based communication modes by customers can be a plus for the market. Furthermore, development of smart cities and homes, use of internet of things (IoT), and the expansion of the construction industry in developing economies are likely to favor the market.
Schneider Electric SE, Cisco Systems, Inc., Crestron Electronics, Inc., Lutron Electronics Co., Inc., General Electric, Delta Controls, Inc., Robert Bosch GmbH, ABB Ltd., Rockwell Automation, Honeywell International Inc., and Siemens AG are key players of the global building automation systems market. Partnerships, mergers, and expansions are major strategies of players in the industry as evident by the recent partnership of Mouser Electronics with Littelfuse, TE Connectivity, and Silicon Labs.
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- By network connectivity, it is divided into wireless and wired network.
- By product, it is segmented into light control systems, fire protection systems, HVAC control systems, surveillance systems, and management software. The surveillance systems segment is likely to gain a huge demand owing to alarming cases of intrusion and theft in suburban and urban areas.
- By end-users, it is segmented into residential, commercial, and industrial. The commercial segment is projected to be lucrative for the global building automation systems market owing to the integration of intelligent systems in shopping malls.
Asia Pacific (APAC), Europe, North America, and Rest-of-the-World (RoW) are major regions considered for the global building automation system industry.
North America is expected to lead the market till the end of the forecast period owing to strict energy conservation codes by nations such as the U.S. and Canada. Moreover, implementation of latest technologies, rise in living standards of customers, and investments in luxury homes are major drivers of the regional market.
APAC is likely to display a robust growth rate over the assessment period owing to rising industrialization in China and India. Investments in developments of smart cities and expansion of network infrastructure can offer new growth opportunities to the global building automation market.
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TABLE OF CONTENTS:
- Market Introduction
- Research Methodology
- Market Dynamics
- Executive Summary
- Market Factor Analysis
- Building Automation System Market, By Segments
- Competitive Analysis
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