Global Building Automation System Market to Experience a Hike in Growth, Profits, Trends, Overview, Future Analysis and Forecasts 2024

The report for building automation market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is building automation in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyse and do more affective investments.

Global Building Automation System Market accounted for USD 54.0 billion in 2016 growing at a CAGR of 10.8% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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The global ISO/IEC14543-3 standard for building automation has been adopted as a technical specification for Australia and New Zealand. 

Adoption of this global standard locally validates ABB’s strategy of developing intelligent building automation solutions based on the global KNX standard, ensuring KNX badged products and systems are now tested and certified compliant for use in the emerging smart home and intelligent building control market in Australia.

Major Market Drivers & Restraints:

• Increasing demand for energy efficient system
• Rising need for the automation of security systems in building
• Technological developments in building automation system
• Lack of skilled professionals
• High cost of installation

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TOP Key Players:

• Honeywell International Inc.,
• Siemens AG,
• Schneider Electric,
• Johnson Controls,
• ABB,
• Beckhoff Automation GmbH & Co. KG,
• CAREL INDUSTRIES S.p.A.,
• Carrier Airconditioning & Refrigeration Ltd.,
• Crestron Electronics, Inc.,
• LARSEN & TOUBRO LIMITED,
• UNITED TECHNOLOGIES,
• Robert Bosch GmbH,
• Legrand,
• Hubbell Incorporated,
• Ingersoll-Rand plc,
• Lutron Electronics Co., Inc,
• BuildingIQ, Nest Labs,
• KMC Controls
• among others.

Market Definition:

Building automation system enables the HVAC, lighting, security and protection systems to communicate on a single platform and deliver the required information simultaneously enhances the comfort, safety, efficiency and productivity of the occupants. The system reduces the energy and maintenance costs. The buildings with building automation system technology are commonly known as “smart building”.

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