Press release
Building Automation Systems Market Insights Into The Competitive Scenario Of The Market
In the modern era security has a monumental importance. The highly digitized and compatible building automation systems are in great demand in the market, as the advanced crop of these systems is backed by IOT, Bluetooth and other mobile applications. Apart from private and commercial buildings some of the best luxury properties around the globe are putting security at the top of their list. This changing scene will speed up the development of the global building automation systems market.
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The security and surveillance segment of the global building automation systems market will reap the maximum benefits from the emerging security threats. The value of the security and surveillance segment witnessed a significant rise in the year 2015 and it is expected to increase 2.6x between 2016 and 2026. The segment will produce a robust incremental dollar opportunity of more than US$ 28 Bn by the end of the foreseen period. By the end of the assessment period the security and surveillance segment of the global building automation systems market will cross the value of US$ 45 Bn. This segment will record a CAGR of 10.4% within the period of forecast. On the basis of revenue the security and surveillance segment will occupy a lion share of the global building automation systems market.
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The major shareholders of the market such as Johnson Controls have recently inked a deal with the Tyco, an Ireland based fire and security solution provider and created a new corporate entity named, Johnson Controls International Plc. This merger is a clear indicator of the fact that the major stakeholders of the global building automation systems market are eyeing the security and surveillance segment. Another giant in the market Honeywell Corporation is diverting its resources to aid the rising demand of the security and surveillance segment. To maintain the market dominance the key players of the market are enhancing their research and development activities and building an arsenal of new and edgy products.
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The security and surveillance segment will fetch moderate results from the North America building automation systems market. A slew of security breach incidences in the recent past in this region will nurture a climate of growth for the security and surveillance segment. In regions such as Latin America the HVAC segment will outshine the security and surveillance segment within the period of assessment. But the Y-O-Y growth of the security and surveillance segment will continue until the end of 2026.
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