A building automation controls as well as monitors an establishment’s systems consisting of air conditioning, ventilation, heating, lighting, mechanical, flood and fire safety in addition to security.
A building automation system may possibly light rooms as per the occupancy schedule, keeping building climate in a specific scope, alarm facility managers in case of a breakdown and device failures and monitor performance in all systems. This directs towards creating an effective, intelligent building framework as well as decrease maintenance costs and energy of the establishment.
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The global market for building automation system is projected to see a growth at an 11.1% CAGR together with an estimated revenue of US$ 141.1 Billion all through the calculated time frame of 2016-2026.
North America to lead the global building automation system market during the assessment period of 2016-2026
On the basis of the system, the overall market is categorised as HVAC, security & surveillance, building energy management, lighting solutions and others. The security and surveillance system is anticipated to witness an attractive growth rate both with revenue and demand as a result of the rise in the criminal activities in addition to a number of security violence all through the end of the predicted time frame of 2016-2026.
On the basis of the application, the worldwide market is divided into government, residential, commercial along with others. The commercial application division is likely to reach a remarkable contribution of about US$ 63 Billion together with a projected growth of a 10.9% CAGR all through the approaching years. The other division along with residential as well as government division is estimated to show a potential growth all through the predicted time frame of 2016-2026.
On the basis of the region, the overall market is assessed across six prominent regions, namely Japan, Asia Pacific Excluding Japan, Middle East & Africa, Latin America, North America, Western Europe along with Eastern Europe that have a strong adoption of building automation system. Hereafter, the building automation system market in these regions is increasing quickly. North America’s regional market is projected to see a fast expansion in the requirement for building autonomous systems all through the predicted time frame. The region is in addition estimated to account for a market value share in excess of US$ 55 Billion in value terms all the way through 2026 and will also attract most of all the investors.
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Key Market Players
The major market players functional in the worldwide market for building automation system include
Cisco Systems, Inc.
Honeywell International Inc.
Philips Lighting Holding B.V.
Rheem Manufacturing Company
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