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New York, NY -- (SBWIRE) -- 05/15/2017 -- Building Automation & Control Systems Industry
According to Stratistics MRC, the Global Building Automation & Control Systems market is accounted for $46.37 billion in 2015 and is expected to reach $98.6 billion by 2022 growing at a CAGR of 11.3% from 2015 to 2022. The factors such as increasing improvements in loT transformation, huge growth in building automation centric wireless protocols, growing number of emerging countries which are developing infrastructure technologies and rising adoption of building automation are some of the factors favoring the market growth. Moreover, developments in communication technologies will further help the market growth over the forecast period. However, lofty initial investments and lack of experienced personnel are the major restraints for building automation & control systems market. Requirement of open communication protocols will be a major challenge for this market.
Commercial buildings application is anticipated to lead the growth of the market over the forecast period owing to declining overall operating cost of investments and rising demand for energy conservation. Asia Pacific region is expected to grow at a highest rate over the forecast period owing to rapid growth of the construction industries and increasing government initiatives are the factors helping the APAC market growth.
Some of the key players in this market include
Ingersoll-Rand PLC, Hubbell Inc., Robert Bosch GmbH, Schneider Electric SE, Siemens AG, ABB, Legrand SA, United Technologies Corp., Johnson Controls Inc., Honeywell International Inc., Cisco systems, Inc., Tyco International Limited, KNX Association CVBA, Ingersoll-Rand Plc and Zigbee Alliance.
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- HVAC Control
- Security & Access Control Systems
- Bacs Services
- Building Energy Management Software
- Facility Management Systems
- Fire Protection Systems
- Other Applications
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- North America
Rest of Europe
- Asia Pacific
Rest of Asia Pacific
- Rest of the World
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