Building Automation and Control System Market: Introduction
Transparency Market Research delivers key insights on the global building automation and control system market. In terms of revenue, the global building automation and control system market is estimated to expand at a CAGR of ~9% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global building automation and control system market.
The building automation and control system (BACS) term refers to a centralized system that monitors, controls, and records functions of building services. Building facilities that are monitored and controlled by a reliable BACS tend to maintain the building environment in a more efficient manner and reduce the environmental impact and energy costs of the building. The core functions of a BACS system include maintenance of control over the building environment, operation of systems according to occupancy and energy demand, monitoring and correction of the performance of systems, and issuing of sound alerts as required.
Request a Sample –
Based on application, the global building automation and control system market has been segmented into facility management, fire control system, safety & security system, energy management system, and others. In terms of technology, the study takes into consideration wired as well as wireless technology-enabled devices and systems used for building automation and control.
Building Automation and Control System Market: Dynamics
In this report, TMR proposes that building automation and control systems are estimated to undergo technological advancements in the near future. Building automation and control systems are applied in lighting, safety and security, entertainment (audio and video), and HVAC (heating, ventilation, and air-conditioning) applications.
In addition to these core applications, several new applications are being developed and offered by players operating in different sectors. These include home healthcare, remote monitoring (as a specialized part of safety and security), home robotics, and pet care.
The home healthcare segment holds high growth potential, due to increase in elderly population and rise in the need for elderly care homes. As for home healthcare, use of automation systems helps save on expenses incurred for visits to the doctor or for deputing a nurse at home. It also saves efforts to dedicatedly monitor people at home.
This has promoted growth of the global building automation and control system market, as consumers have more solutions available to choose from and they enjoy their discretion in terms of price and features. Moreover, the development and adoption in application such as facility management, fire control system, safety & security system is anticipated to increase during the forecast period, thereby fueling the global building automation and control system market.
Building Automation and Control System Market: Prominent Regions
North America is estimated to hold a major share of the global building automation and control system market in the next few years, as manufacturers in the region offer advanced building automation and control systems. The market in the region is expected to expand significantly during the forecast period, primarily due to early adoption of building automation technologies. The market in Asia Pacific is expected to expand at the maximum CAGR from 2019 to 2027, owing to rapidly growing adoption the hi-tech technology in this region.
Key manufacturers operating in the global building automation and control system market are displaying synergies through collaborations with distributor companies and raw material suppliers in the areas of sales, marketing, and production. Manufacturers are also expanding through organic methods, such as increase in the production capacity, so as to meet the rising demand for building automation and control systems across the globe.
Buy our Premium Research Report@
Building Automation and Control System Market: Key Players
Key players operating in the global building automation and control system market are Honeywell International Inc., ABB Ltd., Crestron Electronics, Inc., BuildingIQ, 75F, LLC, Siemens AG, Johnson Controls International Plc, Hubbell, Legrand, Schneider Electric SE, and United Technologies Corporation.
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Transparency Market Research
90 State Street,
Albany NY – 12207
USA – Canada Toll Free: 866-552-3453
Email: [email protected]