Building Automation System Market Anticipated to Grow at a Significant Pace by 2019-2029

Valley Cottage, NY -- (SBWire) -- 11/06/2020 --Rising popularity of new technologies such as Internet of Things, has impacted the operations and product development process of companies. Building automation systems are being introduced to new and existing buildings in order to automate various processes such as heating, ventilation and air conditioning (HVAC), lighting, etc. Moreover, this technology is not limited to residential buildings but is also being implemented in commercial buildings and various sectors such as healthcare.

Building Automation Systems Market: Drivers and Restraints

Buildings consume almost 40% of the total energy consumed worldwide. The need to minimize this number, is a major factor driving the growth of building automation systems market. These automated systems enables one to efficiently monitor and control various functions, therefore enabling one to save energy and cost. Moreover, the fact that building automation can be introduced to existing buildings is another factor leading to rising adoption of building automation systems. Automated systems offer a great level of convenience to users, which is a factor driving the growth of building automation systems market. Companies are adopting cost-reducing methods to offer affordable building automation systems that can be availed by all. High installation cost and lack of skilled labor are two factors hindering the growth of building automation system market.

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Building Automation Systems Market: Segmentation

Building automation systems market can be segmented on the basis of types of system, application, and region. The different types of building automation systems include security and access control (SAC) system, building energy management (BEM) system, heating, ventilation, and air conditioning (HVAC) system, and other systems (parking, water, elevators, etc.). On the basis of application, building automation systems market can be segmented into commercial, institutional, residential, hospitals, transportation and others. Region wise, building automation systems market can be segmented into North America, Latin America, Asia Pacific, Japan, Eastern Europe, Western Europe, and Middle East & Africa.

Building Automation Systems Market: Regional Outlook

North America is expected to be a leader in building automation systems, followed by Western Europe, owing to the presence of key players in this region. But Asia Pacific and Japan are expected to witness a high growth rate over the forecast period. Latin America is expected to grow moderately in this market as countries like Brazil are opening up to new technologies. Middle East and Africa market is impacted by UAE's market, which is fast in adopting new technologies and will help the market grow.

The report covers exhaustive analysis on:

Building Automation Systems Market Segments

Building Automation Systems Market Dynamics

Historical Actual Market Size, 2013 - 2015

Supply Chain Analytics Market Size & Forecast 2016 to 2026

Supply & Demand Value Chain

Building Automation Systems Market Current Trends/Issues/Challenges

Competition & Companies involved

Technology

Value Chain

Building Automation Systems Market Drivers and Restraints

Regional analysis for Building Automation Systems Market includes

North America

US & Canada

Latin America

Brazil, Argentina & Others

Western Europe

EU5

Nordics

Benelux

Eastern Europe

Russia

Poland

Rest of Eastern Europe

Asia Pacific

Australia and New Zealand (ANZ)

Greater China

India

ASEAN

Rest of Asia Pacific

Japan

Middle East and Africa

GCC Countries

Other Middle East

North Africa

South Africa

Other Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Report Highlights:

Detailed overview of parent market

Changing market dynamics of the industry

In-depth market segmentation

Historical, current and projected market size in terms of value

Recent industry trends and developments

Competitive landscape

Strategies of key players and product offerings

Potential and niche segments/regions exhibiting promising growth

A neutral perspective towards market performance

Must-have information for market players to sustain and enhance their market footprint

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