Building Automation and Controls Market size is Projected to Reach $215.59 Billion By 2027 | Growing at a CAGR of 11.10%

Allied Market Research published a report, titled, "Building Automation and Controls Market By Product Type (HVAC Control, Lighting Control, and Security & Access Control), Offering (Integration and Services), and Industry Vertical (Residential, Enterprise, Industrial, Hospitality, Retail, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027".The global building automation and controls market size was valued at $101.91 billion in 2019, and is expected to reach $215.59 billion by 2027 growing at a CAGR of 11.10% from 2020 to 2027

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Some of the prime drivers of the building automation and controls industry are surge in penetration of the aging infrastructure is further anticipated to drive the building automation and controls market growth. The market for building automation and controls would be driven by investing in new technology aimed at increasing system life. Another key factor driving the growth of the building automation and controls market is the increased focus on infrastructure throughout the world.

Building automation and controls provides monitoring technology to alert maintenance workers when outdated and overused equipment is about to fail, allowing them to make better decisions by providing real-time data on problems and possibilities for improvement. Aside from the limits listed above, there are others, such as environmental factors such as temperature and humidity, as well as groundwater seepage, which can have an influence on the operation of switchgear electrical networks, particularly those situated outside. The changing times necessitate changes in the fundamentals as well. In this situation, even small and medium-sized organizations (SMEs) are taking advantage of collocation data hubs' immense potential and the internet's enormous capacity.

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Businesses can evaluate the Porter's Five Forces Analysis to determine the structure, level of competition, and industry's strengths and weaknesses. The report also contains information and statistics, tables and figures that are used in strategic planning for the company's success. The report will be remarkable in its ability to provide worldwide investors with the information they need to make informed judgments about the market. Also, these research report provides accurate economic, global, and country-level predictions and analysis.

Competitive Analysis:
The building automation and controls industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players of the global building automation and controls market include:

• Honeywell International
• Beijer Electronics
• ABB
• Siemens AG
• Johnson Controls
• Schneider Electric
• General Electric
• Legrand
• Lutron Electronics Co.
• Control4 Corporation

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Top Impacting Factors
The prominent factors that drive the growth of the building automation and controls market include rising need for advanced energy-efficient interventions, growing deployment of building automation systems, and rise in demand for convenient user experience. However, lack of interoperability between devices hampers the growth of the market.Conversely, development of smart cities in emerging countries and government initiatives are expected to create lucrative opportunities for the building automation and controls industry.

Key Benefits for Stakeholders:
• This study comprises analytical depiction of the global market along with the current trends and future estimations to depict the imminent investment pockets.
• The overall building automation and controls market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and market opportunities with a detailed impact analysis.
• The current building automation and controls market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
• Porter's five forces analysis illustrates the potency of the buyers and the building automation and controls market share of key vendors.
• The report includes the market trends and the market share of key vendors.

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