Recently, a fresh study highlighting the market snapshot of Building Automation Systems has been publicized to the wide database of Market Research Reports Search Engine (MRRSE). This in-depth study is headlined as “Global Market Study on Building Automation Systems: Security & Surveillance System Segment Projected to Increase 2.6X Between 2016 and 2026” which discusses the historic and current scenario of the global market, along with the future prospects it holds for a 10 year assessment period, 2016-2026. For the benefit of the investors of the report, this research focuses on the drivers and restraints anticipated to impact the demand for Building Automation Systems in the coming years.
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The frequent security violations are a major concern for the different government and private establishments. The rising security concerns are fast changing the fabric of the global building automation systems market. This is a pertinent issue which is positively impacting the expansion of the global building automation systems market. Amongst all the market segments, the security and access controls segment presently holds a major share of the global building automation systems market. The modern installations are mostly equipped with smart fire and social alarm systems and most of the government and private buildings are gearing themselves with intrusion alarms and assess control systems to shield themselves from any unforeseen incidences of terror. In the modern era security has a monumental importance. The highly digitized and compatible building automation systems are in great demand in the market, as the advanced crop of these systems is backed by IOT, Bluetooth and other mobile applications. Apart from private and commercial buildings some of the best luxury properties around the globe are putting security at the top of their list. This changing scene will speed up the development of the global building automation systems market.
Security and Surveillance segment to occupy a lion share of the global building automation systems market
The security and surveillance segment of the global building automation systems market will reap the maximum benefits from the emerging security threats. The value of the security and surveillance segment witnessed a significant rise in the year 2015 and it is expected to increase 2.6x between 2016 and 2026. The segment will produce a robust incremental dollar opportunity of more than US$ 28 Bn by the end of the foreseen period. By the end of the assessment period the security and surveillance segment of the global building automation systems market will cross the value of US$ 45 Bn. This segment will record a CAGR of 10.4% within the period of forecast. On the basis of revenue the security and surveillance segment will occupy a lion share of the global building automation systems market.
Shareholders mull to expand market presence through mergers and new innovations
The major shareholders of the market such as Johnson Controls have recently inked a deal with the Tyco, an Ireland based fire and security solution provider and created a new corporate entity named, Johnson Controls International Plc. This merger is a clear indicator of the fact that the major stakeholders of the global building automation systems market are eyeing the security and surveillance segment. Another giant in the market Honeywell Corporation is diverting its resources to aid the rising demand of the security and surveillance segment. To maintain the market dominance the key players of the market are enhancing their research and development activities and building an arsenal of new and edgy products.
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Security and Surveillance Segment: Revenue to surge during the forecast period
The security and surveillance segment will fetch moderate results from the North America building automation systems market. A slew of security breach incidences in the recent past in this region will nurture a climate of growth for the security and surveillance segment. In regions such as Latin America the HVAC segment will outshine the security and surveillance segment within the period of assessment. But the Y-O-Y growth of the security and surveillance segment will continue until the end of 2026.
The team of highly skilled researchers gave priority to secondary research to measure the overall market size, top industry players, major products and industry associations. Industry insiders also enriched the report with valuable market insights and the findings were also backed by information provided by distributors and manufacturers. Several one-to-one interviews conducted across the major pockets fetched some core information about this market. The acquired data was then validated by the triangulation method.
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