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Building Automation Systems Market Anticipated To Witness High Growth In The Near Future | Sicherheitssysteme GmbH, Automated Logic Corporation, AT&T, Honeywell International, Johnson Controls International Plc., Schneider Electric
Building Automation Systems
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The main functionality of a building automation system is to maintain optimal temperature and humidity of the building. For example, the humidity should be maintained in range of 0-30% when the day temperature is in the range of 22-30ºC and night temperature ranges from 20ºC to 27ºC. Buildings that adhere to this range of humidity in relation to temperature are said to be in the comfort zone. This system also provides lighting in rooms as per an occupancy schedule, monitors performance and alerts the building maintenance staff about device failures in these systems.
Major factor driving growth of the global building automation system market is increasing integration of IoT (Internet of Things) in building automation systems. IoT enables integration of devices in a building, further converting all the information gathered by these devices into big data that can be stored, analyzed, and used to manage the building through its BAS. IoT uses one common Internet Protocol (IP) platform to connect all the sensors and devices in a building to exchange and analyze information and optimize controls automatically. According to the Coherent Market Insights’ analysis, 1,073.6 units IoT devices were installed in smart homes and1,063 units installed in smart commercial buildings in 2017.
However, high installation cost of automated systems and lack of skilled labors are the major factors expected to restrain growth of the building automation systems market.
Global Building Automation Systems Market: Taxonomy
On basis of service type, the building automation systems market is segmented into:
-Professional Services
-Managed Services
On basis of application the building automation systems market is segmented into:
-Commercial
-Industrial
On basis of technology the building automation systems market is segmented into:
-Wireless
-Wired
On basis of geography the building automation systems market is segmented into:
-North America
-Europe
-Asia Pacific
-Latin America
-Middle East
-Africa
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Global Building Automation Systems Market: Regional Insights
The market for building automation system in Asia Pacific is expected witness fastest growth. The growth is attributed to increasing economic growth in emerging economies such as China and India. Increasing economic growth tends to increase the growth of construction industry, for instance, according to the Department of Industrial Policy and Promotion (DIPP), India received US$ 24.7 billion of Foreign Direct Investment (FDI) in construction development sectors for housing, built up infrastructure and construction development from April 2000 to September 2017. Additionally according to the Smart Cities Mission Project offered by Government of India, 90 smart cities are been proposed with project investments of US$ 30.02 billion , which is expected to positively influence the growth of regional building automation market.
Global Building Automation Systems Market: Competitive Background
Major players operating in the building automation system market include Automated Logic Corporation, AT&T Inc., Honeywell International Inc., Johnson Controls International Plc., Schneider Electric SE, Hubbell Inc., ABB Ltd., Beckhoff Automation GmbH & Co. KG, Ingersoll-Rand Plc, Bosch Sicherheitssysteme GmbH, and Siemens AG.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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