The building automation and control systems market is expected to grow by $ 17.25 billion, accelerating at a CAGR of almost 6.15% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.
Building Automation And Control Systems Market: Market Segments and Growth Forecasts
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- Market is segmented End-user (Commercial buildings, Residential buildings, Government buildings, and Other buildings) and Geography (Europe, North America, APAC, MEA, and South America).
- 29% of the market growth will originate from APAC during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Building Automation And Control Systems Market size.
Building Automation And Control Systems Market: Trends, Drivers, Challenges
The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.
- Demand for energy efficiency will be a significant factor in driving the growth of the Building Automation and Control Systems Market.
- Customization of automation and building control systems will be instrumental in driving the market growth during the forecast period.
- High installation cost is a hurdle that needs to be crossed on the path to success.
Building Automation And Control Systems Market: Vendor Analysis
- The market is fragmented.
- The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
- ABB Ltd., Emerson Electric Co., Honeywell International Inc., Johnson Controls International Plc, Legrand SA , Optergy , Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, and Siemens AG are some of the major market participants.
