Covid-19 Outbreak: Building Automation System Market 2022 – Industry Scenario, Strategies, Growth Factors And Forecast 2027

Global Building Automation System Market: Overview

Growing popularity of new technologies like Internet of Things, has impacted the product development and operations process of enterprises. Building automation system market is being introduced to new and existing buildings to automate various processes like heating, ventilation and air conditioning (HVAC), lighting, and many more. Furthermore, this technology is not limited to residential buildings but is also being implemented in commercial buildings and various sectors like healthcare.

Global Building Automation System Market: Notable Development

Key developments in the building automation systems market

  • In November 2017, Ingersoll Rand has taken over CALMAC Corporation. It is a privately organization concentrates in cool energy technologies, incorporating IceBank storage tanks. CALMAC has near about 4,000 enterprises and institutions in 60 countries. This aided Ingersoll to grow its thermal energy storage solutions portfolio and reinforce the enterprises’ climate commitment.
  • In August 2017, Ingersoll Rand PLC took over the company of Thermocold Costruzioni Srl, a distributer and producer of heating, air-conditioning, ventilating solutions and systems. The takeover is projected to offer the company with prospects to increase in Europe and globally.
  • In June 2017, Honeywell contracted an agreement to takeover Nextnine, a service provider of security management technologies and solutions. Added in Nextnine’s market is leading secure remote and security solutions service abilities will improve the establishment’s current range of innovative cyber security tech and substantially growth Honeywell’s Connected Plant cyber security customer base.

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The global building automation system market mark the presence of top players such as Honeywell International (US), Siemens AG (Germany), Johnson Controls International (Ireland), Schneider Electric (France), United Technologies Corp. (US). These players are increasingly undertaking acquisitions and product launches to develop and introduce new technologies and products in the market.

Global Building Automation System Market: Key Drivers

Security and access control systems accounted for the largest share of the building automation systems market is likely to continue in the forthcoming years. The demand for home security solutions is growing at a rapid pace due to several aspects, like technological advancements, the rise in crime rates. Along with these, the increased need for medical assistance to senior citizens at home and monitoring the children at home is also driving the market.

Worldwide governments are also investing heavily to develop reliable and robust security systems for safeguarding their citizens from terrorist attacks. Automated systems offer a great level of convenience to users, which is a factor driving the growth of building automation systems market. Companies are adopting cost-reducing methods to offer affordable building automation systems that can be availed by all. High installation cost and lack of skilled labor are two factors hindering the growth of building automation system market.

Global Building Automation System Market: Geographical Distribution

North America is expected to be a leader in building automation systems, followed by Western Europe, owing to the presence of key players in this region. But Asia Pacific and Japan are expected to witness a high growth rate over the forecast period. Latin America is expected to grow moderately in this market as countries like Brazil are opening up to new technologies. Middle East and Africa market is impacted by UAE’s market, which is fast in adopting new technologies and will help the market grow. In Germany, the minimum performance of new buildings has been set for optimal thermal comfort, indoor air quality, and U-values for non-residential buildings. Additionally, in new buildings, minimum performance of technical building systems has been set for control of heating, generation distribution, and hot water systems.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
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The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

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  • A complete backdrop analysis, which includes an assessment of the parent market
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  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
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