Global Building Automation Market, By Product (HVAC Controls, Facility Management Systems, Security and Access Controls, Fire Protection Systems, Building Energy Management Software, BAS Services, Others), Vertical (Residential, Enterprise, Industrial, Hospitality, Retail, Others), Communication Technology (Wired Technology and Wireless Technology), Offering (Integration, Services), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Building Automation Market
Building automation market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to o reach at an estimated value of USD 162,737.5 million by 2028 and grow at a CAGR of 9.00% in the above-mentioned forecast period.
Building Automation basically consists of a microprocessor system which is based on a connection of wired or wireless controllers to diverse systems in a building and it utilizes the sensors, detectors, relays, and other smart components combined with the intelligent electronics, which give admission to the central computing system to operate.
The factors such as growing security concerns and increasing global demand for energy conservation across the globe are expected to emerge as the significant factors uplifting the growth of building automation market. In addition to this, growing popularity of the Internet of Things, rising initiatives by government and private establishments will further aggravate the growth of the building automation market. However, high cost of implementation of BAS system results as a growth restraint for the market.
The rapid adoption of IoT-based systems and development of smart cities in emerging countries and government initiatives is anticipated to generate lucrative opportunities for the building automation market. The lack of interoperability between devices will pose as a challenge for the building automation market.
This building automation market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on Building automation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Building Automation Market Scope and Market Size
The building automation market is segmented on the basis of product, vertical, communication technology and offering. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of product, the building automation market is segmented into HVAC Controls, facility management systems, security and access controls, fire protection systems, building energy management software, bas services and others.
- On the basis of vertical, the building automation market is segmented into residential, enterprise, industrial, hospitality, retail and others.
- Based on communication technology, the building automation market is segmented into wired technology and wireless technology.
- On the basis of offering, the building automation market is segmented into integration and services.
Building Automation Market Country Level Analysis
The building automation market is analyzed and market size, volume information is provided by product, vertical, communication technology and offering as referenced above.
The countries covered in the building automation market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is projected to dominate the building automation market during the forecast period owing to the rising requirement of energy management and the increasing demand for green homes. Asia-Pacific, on the other hand, is expected to show a lucrative growth due to increasing adoption of technological solutions in industrial and commercial processes within the region.
The country section of the building automation market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Building Automation Market Share Analysis
The building automation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to building automation market.
The major players covered in the building automation market report are Siemens, Schneider Electric, Johnson & Johnson Private Limited, Honeywell International Inc., ABB, Carel Industries S.p.A., Carrier., Crestron Electronics, Inc., Larsen & Toubro Limited., Raytheon Technologies Corporation, Robert Bosch GmbH, Legrand, Hubbell., Ingersoll Rand, Lutron Electronics Co., Inc, BuildingIQ, Google Nest, KMC Controls., General Electric Company, Mitsubishi Electric Corporation, Cisco Systems Inc., Koninklijke Philips N.V., Lennox International, Rheem Manufacturing Company among other domestic and global players. Market shre data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.