According to Stratistics MRC, the Global Systems Market is accounted for $57.83 billion in 2017 and is expected to reach $154.36 billion by 2026 growing at a CAGR of 11.5% during the forecast period.
Some of the key players in Global Smart Building Automation Systems market are Siemens AG, Robert Bosch GmbH, Honeywell International, Schneider Electric SE, Carrier Corporation, Johnson Controls, Performance Mechanical Group, Delta Controls, Trane and Novar.
Some of the key factors fueling the market are growing need for integrated security and safety systems and decreasing operational costs. However, the false notion about the installation cost, and technical difficulties and a dearth of skilled experts hampers the growth of Smart Building Automation Systems market.
Smart Building Automation is the automatic centralized control of a building’s heating, ventilation and air conditioning, lighting and other systems through a building management system or building automation system. The objectives of building automation are improved occupant comfort, efficient operation of building systems, reduction in energy consumption and operating costs, and improved life cycle of utilities.
Based on the Marketing Channel, Direct Marketing segment is estimated to have a lucrative growth because direct marketing is a form of communicating an offer, where organizations communicate directly to a pre-selected customer and supply a method for a direct response. Among practitioners, it is also known as direct response marketing. By contrast, advertising is of a mass-message nature.
By Geography, Europe is constantly enhancing due to the increased initiatives by the Europe governments for building smart and intelligent structures. Moreover, in Europe initiatives to further push smart and zero energy buildings, with mandatory changes to country-level building codes and the Energy Performance of Buildings Directive.