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August 2016 |
True Analytics™ - Energy Savings, Comfort, and Operational Efficiency |
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Building Automation System Market by Product, Application, and by Geography - Global Forecasts to 2022
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The global building automation system
market size is expected to grow from USD 49.37 Billion in 2015 to reach
USD 100.60 Billion by 2022, at a CAGR of 10.65% between 2016 and 2022.
The growth of this market is being propelled by the high degree of
adoption of building automation system in commercial buildings as well
as the ability to increase the energy efficiency and enhance the
security and safety in buildings.
The scope of this report covers the building automation system market
on the basis of products, applications, and geography. The market for
security & access controls systems is leading in the building
automation systems market. It is very difficult to manually monitor
activities and keep track of people entering and exiting a building,
especially in large organizations. Thus, the need of automatic systems
to increase the security level, monitor activities, and control access
has led to a rise in the demand for security & access controls.
For more information please click on:
http://www.researchandmarkets.com/publication/m7ktuk2/3641049
The market for the commercial buildings application is expected to lead
the building automation system market during the forecast period
because of the high demand for energy conservation and reduction of the
overall operating cost in this sector.
The APAC region is expected to play a key role in the building
automation system market and grow at the highest rate during the
forecast period. The rapid growth of the construction industry in this
region, in addition to the government initiatives, has contributed to
the growth of the building automation system market in the APAC region.
One of the key restraining factors in the building automation system
market is the high initial cost involved in designing and installation
of building automation system. However, the advancements in wireless
communication technologies, and the growing efforts taken by the
manufacturers, facility managers, and the governments to make customers
aware about the long-term benefits of installing a building automation
system is expected to lower down the impact of this restraining factor
in future.
The major players in the building automation system market include
Honeywell International, Inc. (U.S.), United Technologies Corporation
(U.S.), Johnson Controls, Inc. (U.S.), Hubbell, Inc. (U.S.), Schneider
Electric SE (France), Siemens AG (Germany), Legrand SA (France),
Ingersoll Rand PLC (Ireland), ABB (Switzerland), and Robert Bosch GmbH
(Germany) among others. These players adopted various strategies such
as new product developments, acquisitions, partnerships,
collaborations, and business expansion to cater to the needs of the
building automation system market.
Companies Mentioned:
- ABB
- Honeywell International Inc.
- Hubbell Inc.
- Ingersoll-Rand PLC
- Johnson Controls Inc.
- Legrand SA
- Robert Bosch GmbH
- Schneider Electric SE
- Siemens AG
- United Technologies Corp.
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