Market Analysis
Market Research Future (MRFR) projects the global building
automation system market to expand at 13% CAGR from 2016 to 2022 (forecast
period).
The building automation system is an essential component of
any infrastructure. It's required for monitoring, security, mechanical,
humidity, fire, and lighting control systems. The building automation system is
suitable for autonomous building. The system is capable of managing all of the
building's facilities.
Key Players
United Technologies Corp., Hubbell Inc., Schneider Electric,
Ingersoll-Rand PLC, Robert Bosch, ABB Ltd., Johnson Controls International,
Mitsubishi Electric Corporation.
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Every year, the need for smart buildings grows. Building
Automation System Market Demand is increasing as a result of this.
Smart-building technology is efficient because it uses only 50% of the energy.
The growing use of IT communication methods is also increasing the demand for
building systems. The building system is a collection of multiple systems that
all share the same control access. These systems are designed to provide
comfort, security, and energy efficiency.
The security video surveillance system is a critical component
of any building automation system. Video surveillance is a superior security
device that observes people entering and exiting the building. In educational
institutions, airports, residential complexes, and offices, surveillance
systems are critical. Many governments have severe requirements when it comes
to installing security surveillance systems. Public infrastructure, in
particular, requires a security surveillance system.
The system protects against theft, attacks, and other criminal
activity. The expansion of the Building
Automation System Market is being driven by government security
awareness and regulations. Furthermore, building automation systems are
required in modern buildings. These systems are chosen for their
cost-effectiveness. The building automation system provides security,
convenience, and energy efficiency. Another aspect driving demand for building
automation systems is cost-effectiveness. Another important industry driver is
technological innovation. Because of advancements in the automation business,
the growth of building automation is possible. As a result of this advancement,
the building automation industry is experiencing increased demand.
COVID-19 Impact on the Global Building Automation
System Market
The COVID-19 outbreak has altered market circumstances. During
the pandemic, the real estate market is undergoing a severe downturn.
Individuals investing in real estate are diminishing since the COVID-19 has
stifled mobility. The market for building automation systems is shrinking.
According to market analysis, it will see an increase in demand following
COVID-19. All industrial operations have resumed, which will have a favorable
impact on the market. After COVID-19, the building automation system market
will see a constant flow of demand.
Market Segmentation
The global building automation system market has been
segmented into network, end-user, and product.
By network, the global building automation system market has
been segmented into wireless and wired.
By end-user, the global building automation system market has
been segmented into commercial, industrial, and residential.
By product, the global building automation system market has
been segmented into HVAC, surveillance systems, fire protection systems, and
lighting control systems.
Regional Analysis
Region-wise, the global building automation system
market has been segmented into North America, Europe, Asia Pacific, and the
rest of the world.
Government initiatives to promote energy-efficient building
will raise market demand in the future. This huge development is due to a growing
awareness of the need for security buildings. The greatest market is in the
Asia Pacific. However, the North American market will outgrow the rest of the
world. Most buildings now use automation technology.
The construction industry, particularly in the United States,
is entirely dependent on the automation industry. Individuals benefit from the
system's safety, security, and convenience. Consumer need for a safe and secure
building is driving market expansion in North America. Furthermore, the Building
Automation System Industry Size in Asia is rapidly adopting automation.
Construction expansion in Europe is driving significant growth in the region.
These three regional players are significant contributors to the market for
building automation systems.
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