11% CAGR growth by 2023 in Building Automation System Market| Major Players - EMERSON ELECTRIC CO., ABB LTD, SIEMENS AG, EMERSON ELECTRIC CO., INGERSOLL-RAND PLC, amongst others

Market Analysis:

Germany expected to hold the Largest Market Share in Europe
Germany has been a leader on the technological front in Europe, owing to government regulations, which are encouraging the adoption of smart services. This is expected to drive the growth of the smart office and smart homes market in the country. Developing economies, such as Brazil, China, and India are also expected to show growth because of the growth in business and emerging business opportunities

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Building automation solutions are emerging as cost-effective tools for essentially all forms of buildings, regardless of energy costs, usage, or climatic conditions. The measures taken by government organizations for the implementation of standards, such as ISO 50001 (energy-management-system standard) in the building sector, have the potential to stimulate the integration of building automation systems.

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Market Segments:
Building Automation System Market is segmented by:
1. Type: Building Management Software, Environmental Control & Lighting Management, Energy Management, Facility Management Systems (FMS), Security Access Control, Others
2. End User: Commercial, Residential, 5.2.3 Government, Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• November 2017 - Ingersoll Rand acquired CALMAC Corporation, a privately held company specializing in cool energy technologies, including IceBank storage tanks. CALMAC has more than 4,000 businesses and institutions in 60 countries. This helped Ingersoll to expand its thermal energy storage solutions portfolio and reinforce the company’s climate commitment.
• August 2017 - Ingersoll Rand PLC acquired the business of Thermocold Costruzioni Srl, a manufacturer and distributer of heating, ventilating, and air-conditioning (HVAC) systems and solutions. The acquisition is expected to provide the company with opportunities to expand in Europe and other parts of the world.

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