Commercial Building Automation Market - Global Industry Analysis, Share, Drivers, Restraints, Growth and Forecast, 2013 - 2019
Albany, NY -- (SBWIRE) -- 06/13/2016 -- On account of increased investment, the global commercial building automation systems market is undergoing a rapid transformation after years of moderate growth. Various initiatives by several governments encouraging green buildings and the rising uptake of LED technology presents ample opportunities for the market to grow smoothly.
The report analyzes the global commercial building automation market on four fronts: products, application, communication protocol, and the regional markets. Based on products, the market is classified into the markets for HVAC, building management systems, security and access control systems, energy management systems, and lighting management systems. By application, lodging, office, retail, and healthcare are the major segments of the global commercial building automation market.
Based on the communication protocol, the markets for LonWorks, BACnet, KNX, Metasys N2, Modbus, oBIX, and C-Bus are the key segments of the global commercial building automation systems market, whereas on the regional basis, the market is spread across North America, Asia Pacific, Europe, and the Rest of the World.
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The market study presents a comparative analysis of the global market for commercial building automation systems that includes a qualitative as well as quantitative assessment of each segment of this industry. The report also evaluates the prevalent trends and various market dynamics such as the growth drivers, restraints, and prospects that are expected to influence the future performance of the market.
Overview of the global commercial building automation market
The commercial building automation market derives growth prospects from the rising demand for commercial building automation systems. Advancement in the field of security-related solutions and energy efficiency is the key reason driving the market in the forecast period. The revival of the construction industry since the economic crisis of 2008-09 is having a positive impact on the market's growth trajectory.
Additionally, the increase in capital funding and the uptake of advanced technologies such as sensing, embedded computing, and communications is expected to trigger the development of this market over the forecast period.
Various government initiatives to conserve energy are fuelling the commercial building automation market. The U.S., France, and India and China are the leading regional markets in North America, Europe, and Asia, respectively. Among the various product types in the market, the market for security and access control systems is dominating the global commercial building automation market on account of the rising security practices in commercial buildings.
Although the global commercial building automation systems market is reporting impressive growth, the lack of a skilled workforce and high installation costs are expected to hamper the market during the forecast period.
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