Press release
Commercial Building Automation Market - Industry Insights by Growth, Emerging Trends and Forecast By 2031
Transparency Market Research delivers key insights on the global commercial building automation market. In terms of revenue, the global commercial building automation market is estimated to expand at a CAGR of 8.3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global commercial building automation market.The global commercial building automation market is broadly affected by several factors, including surge in the demand for energy-conservative processes, increase in awareness among people about green buildings, and rise in government initiatives for green building.
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Government initiatives for construction of green buildings and rising primary focus on green building by major companies are key factors driving the global commercial building automation market. Furthermore, factors such as growing commercial building construction activities, rising demand for lowering operational costs in construction, and increasing demand for comfort level & mental satisfaction for environment-conscious buyers are propelling the market.
Governments from several countries supported the green building initiative to boost the construction of commercial building that result in energy-efficient, healthy, and environmentally sustainable buildings. Several governments are continuously focused on reducing carbon emission through sustainable buildings. Accordingly, governments are offering schemes for energy efficient buildings by providing incentives to builders and property tax concessions to users. Green buildings help utilize less water and lower energy consumption, as well as offer healthier spaces for occupants and increase value of the property.
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Automated building operations lower the facility management cost, as systems regulate the operation of building features such as HVAC and lighting. Automation also decreases total energy consumption that help a building become green-certified. Building automation runs via a BAS (Building Automation System) that manages all of a building's connected automations. Building automation offer some benefits such as saving energy, reducing operational expenditures, increasing occupancy comfort and helps in complying stringent regulations and sustainability standards. Therefore, all these factors are promoting the green building initiative with the aid of automation, thereby driving the market.
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Key players operating in the global commercial building automation market are ABB Ltd., Cisco Systems Inc., Honeywell International Inc., Hubbell Inc., Emerson Electric Co., Johnson Controls International plc, Robert Bosch GmbH, Schneider Electric SE, United Technologies Corp., and Siemens AG.
About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports
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