In order to study the various trends and patterns prevailing in the global building automation systems market , Market Research Reports Search Engine (MRRSE) has included a new report titled “Global Market Study on Building Automation Systems: Security & Surveillance Projected to be the Most Attractive System Segment Through 2025” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. Readers can access the regional as well as segment-wise analysis for acquiring precise information about the global market structure.
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The report projects the global building automation systems market to grow at over 11% CAGR during the forecast period. According to the report, growing focus on automation and incorporation of advanced technology are the key factors that are leading to adoption of building automation systems. Government in many countries are focusing on developing smart cities and this has led to massive investment in smart homes. The pervasiveness of smart phones is likely to increase in the future, and this can create opportunities for building automation companies during the forecast period.
The growth of building automation systems market is also growing on account of rising preference towards automation. The proliferation of internet of things (IoT) and big data is also driving the global market. Although the forecast on the global market remains positive, few factors can reduce investments in building automation. Building automation continues to be a capital-intensive process, and cash-strapped governments around the globe are not able to invest in these automation systems. However, it is expected that advances in technology will reduce the price for automation systems, which will further lead to higher adoption among end-users.
The global market has been segmented for detailed analysis which are application, system and region. On the basis of application, the market is further sub-segmented into government, commercial, residential and others. By system segment, the market is divided into building energy management, lighting solutions, HVAC, security & surveillance and others. Region wise, the global market is divided into North America, Latin America, Europe, Asia Pacific and Middle East and Africa.
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North America and Europe are among the leading markets for building automation systems market. The adoption of building automation systems in North America is led by the US, whereas Western Europe is a lucrative region for vendors. Asia Pacific excluding Japan is also anticipated to grow, albeit from a small base. These factors are likely to provide an impetus to the growth of the building automation systems market during the assessment period.
The competitive section of the report profiles some of the leading players in the market. Some of the key players profiled in the report are Cisco Systems, Inc., Schneider Electric, Rheem Manufacturing Company, United Technologies, Ingersoll-Rand Plc., Siemens AG, Honeywell International Inc., Philips Lighting Holding B.V., Lennox international, GENERAL ELECTRIC and Legrand.
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