Building Automation System Market Major Technology Giants in Buzz Again | Automated Logic, AT&T, Honeywell International, Johnson Controls International Plc., Schneider Electric SE, Hubbell, ABB Ltd.

There are several brands and key players that are driving the Building Automation System Market and in turn changing the face of industry. This Building Automation System Market report consists of several Company profiles of the key players which give an idea that what the actual Building Automation System Market trends are as well as letting you know about all the recent product launches, their researches, joint ventures, merges, and accusations are, so that you stay ahead of the curve in this competitive Building Automation System Market.

Building automation system market is expected to reach USD 51.08 billion by 2029 and is rising by registering a healthy CAGR of 16.98% in the forecast period of 2020-2029. The major factor acting as a driver is the dominance of governments for systematic management of buildings and their saving as per guidelines and rules.

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Few of the major competitors currently working in building automation system market are Automated Logic, AT&T, Honeywell International, Johnson Controls International Plc., Schneider Electric SE, Hubbell, ABB Ltd., Beckhoff Automation GmbH & Co. KG, Ingersoll-Rand Plc, Bosch Sicherheitssysteme GmbH, Siemens AG and many others.

Market Definition:

Building automation systems comprises of a network of wireless or wired microprocessor-based controls linked to various systems in the building to operate the machinery and automate energy consumption.

Building Automation System Market Scope and Market Size

Building Automation System Market has been segmented on the basis of product type, software, communication technology, system type, service type and application.

Based on the product type, the building automation system market is segmented into hardware, software and services.

On the basis of software segment, the building automation system market is segmented into facility management, security management, energy management, emergency management and infrastructure management. The facility management is further segmented into lighting control and HVAC control. The security management is further sub segmented into video surveillance and access control.
The energy market is expected to grow at highest CAGR for the forecasted period as buildings consume largest amount of electricity globally.

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On the basis of communication technology segment, the building automation system market is segmented into wireless technologies and wired technologies. The wireless technologies is further sub segmented into zigbee, enocean, z-wave, wi-fi, bluetooth, thread and infrared. The wired technologies is further sub segmented into digital addressable lighting interface (dali), knx, lonworks, building automation and control network (bacnet) and modbus.
Based on system type, the building automation system market is segmented into security & surveillance, HVAC, lighting solutions, BEM (Building Energy Management) and others.

The building automation system market is also segmented on the basis of service type into professional services and managed services.
The demand for professional service held the largest share in service type segment.

On the basis of application segment the building automation system market is segmented into residential, commercial and industrial. The commercial segment is further divided into office buildings, retail and public buildings, educational institutes, hospitals and healthcare facilities, airports and railways and others.
Country Level Analysis of Building Automation System Market

On the basis of region, the building automation system market is segmented into North America and South America, Asia Pacific, Europe and Middle East and Africa.
Countries covered under North and South America region are Canada, Mexico, Brazil, Rest of Americas, along with Germany, France, United Kingdom, Italy, Spain, Rest of Europe covered under Europe region and Japan, China, India, Australia, Rest of Asia-Pacific covered under Asia-Pacific region.

Asia-Pacific region is expected to accelerate in the forecast period 2020 to 2029 because of rapid construction activities and mordernization.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands impact of sales channels are considered while provided forecast analysis of the country data.

Market Drivers:
Simplified building operation and maintenance will boost this market growth.
Significant cost benefits to industrial, commercial and residential users also drives the market growth in the forecast period
Growing integration of IoT will also drive the market growth
Increasing demand for energy-efficient and eco-friendly buildings; this is another factor uplifting this market growth

Market Restraints:
Lack of technically skilled workers can hinder the market growth
High implementation costs is one more factor which restricts the growth of the market

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Key Developments in the Market:
In November 2019, Johnson controls has an agreement on the purchase of EasyIO Building and Energy Management System (BEMS) product. It will add value to the already robust building automation.
In October 2018, Phoenix Contact has introduced flexible building automation that can be achieved through ILC 2050 BI which is inbuilt with 4 port Ethernet switch. This product will add new product line which would be adding up the cycle.
Competitive Analysis and Building Automation System Market Share Analysis:

Building automation system market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of building automation system market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Building automation system market competitive landscape provides details by competitors. Details included are company overview which includes Company focus, business segment, product categories, revenue generated and global presence. Building Automation System Market report also provides information on recent financials and R&D expenditures over the years from 2020 to 2029.

Key Insights in the report:

Complete and distinct analysis of the market drivers and restraints
Key market players involved in this industry
Detailed analysis of the market segmentation
Competitive analysis of the key players involved

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This release was published on openPR.