Building Automation Systems Market 2021 Value with Status and Global Analysis - Honeywell International Inc., ABB Ltd., Siemens AG, Johnson Controls International PLC, Hubbell Inc

The Building Automation Systems Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The Building Automation Systems Market was valued at USD 60.31 billion in 2020 and expected to reach USD 112.93 billion by 2026 and grow at a CAGR of 11.02% over the forecast period (2021-2026).

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Top Leading Companies of Building Automation Systems Market are Honeywell International Inc., ABB Ltd., Siemens AG, Johnson Controls International PLC, Hubbell Inc., United Technologies Corporation, Schneider Electric SE, Robert Bosch GmbH, Emerson Electric Co., Mitsubishi Electric Corporation, Ingersoll-Rand PLC, Huawei Technologies Co. Ltd and others.

Industry News and Updates

In Nov 2019 - Johnson Controls acquired Building and Energy Management System's (BEMS) product line of the Malaysia-based EasyIO. This factor creates significant growth opportunities, as the company is expected to leverage EasyIO's products and team in the Americas, European, Middle Eastern, an d Asia-Pacific building au tomati on systems markets, as well as the global HVAC, safety, and refrigeration markets.

- In March 2019 - Mitsubishi Electric U.S. Inc. launched BEAM AX energy management system, a cloud-based solution for analyzing energy usage and costs in commercial buildings. The energy management system provides the tools to analyze energy use, track performance, forecast peak demand, detect usage abnormalities, with lower costs and monitor solar production performance and benefits.

Key Market Trends

Increasing Demands for Smart Buildings is Boosting the Market Growth

- The increasing market for smart building across developed and developing economies is anticipated to aid BAS's demand. According to Johnson Controls' 2018 Energy Efficiency Indicator survey, companies in the US are planning to increase investments in smart building measures, including building controls and building systems integration, at a higher rate than more traditional energy efficiency measures. Canada's Building Strategy, adopted in 2017, focuses on efficiency and reducing greenhouse gas emissions, emphasizing net-zero energy buildings.

- Governments across regions have been actively involving in setting the limits for energy consumption. For instance, the Canadian government is emphasizing energy conservation through smart buildings by using offices and homes. During the same period, the Government of India also developed 'The Energy Conservation Building Code' (ECBC), which sets minimum energy performance standards for buildings and includes the building envelope, heating, ventilation, and air conditioning. Hence, the growing adoption of connected systems could help such regions to save energy.

- In Europe, a Smart Readiness Indicator was adopted as part of the 2018 revision of the European Energy Performance of Buildings Directive to promote smart building technologies. The Clean Energy for All European initiative includes a program with the European Investment Bank to offer to finance for smart buildings.

- Additionally, the United Kingdom also has kept significant efforts in smart building solutions, essentially to decrease the carbon footprint from the building sector and reduce its energy consumption.

Regional Outlook of Building Automation Systems Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.

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What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The Building Automation Systems Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

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