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 Size 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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