Building Automation Global Market Expected to Reach $66.8 Billion with 9.3% CAGR Forecast to 2022
The Global Building Automation market accounted for $32.91 billion in 2014 and is expected to reach $66.8 billion by 2022 growing at a CAGR of 9.3%. Strict government initiatives, growing demand for energy efficient systems & solutions, and increasing cost saving needs of the building owners have played a key role in boosting the market growth. Factors such as limited availability of skillful experts and lack of consciousness about installation costs are the factors limiting the market growth.
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