Pune, India -- (SBWIRE) -- 04/24/2019 -- A latest report has been added to the wide database of Building Automation Systems Market by Infinium Global Research. This report studies the building automation systems market by types of system (lighting, heating, ventilation, energy management devices, entertainment controls and smart gadgets and others), application (industrial, commercial, residential), technology(cellular networks and wireless technologies) market status and outlook of global and major regions, from manufacturers, and end industries. The building automation system (BAS) market projected to grow at a CAGR between 10.70% and 10.75% over the period of 2017 to 2023. The building automation system (BAS) market was valued over USD 53.66 Billion in 2017 and is expected to reach USD 98.11 Billion by 2023.

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The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. building automation systems market provides opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape, latest trends, and product offerings of the major companies in the building automation systems market.

Building Automation Systems Market: Insight

The report identified that global building automation systems is driven by factors such as the regulatory norms, the requirement for superior utility efficiency, and, increasing global demand for energy. While the restraining factors include high Cost of implementation, technical difficulties and lack of skilled experts. Further, the report identifies the opportunities in the world market as favorable government initiatives and incentives.

Building automation systems (BAS) are the centralized, interconnected networks of software and hardware which control the environment in commercial, residential and institutional facilities. The objective of installing building automation systems is improving the resident comfort, reducing consumption of energy and managing building operations effectively. 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.

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Building Automation Systems Market: Drivers and Restraints

The major driving forces for this market are the regulatory norms, the requirement for superior utility efficiency, increasing global demand for energy and enhanced customer service. Additionally, need for implementation of the smart grid technologies, housing trends and energy management practices have played a major role in the growth of this market.

The restraining force influencing BAS market is the expense involved in installation of BAS. Cost benefit ratio and ambiguity regarding the structure of funding in implementation of BAS infrastructure is also acting as a restraining factor in some markets.

Recent trends demonstrate that the governments of various countries are implementing regulations to minimize the wastage of energy, which results in increasing usage of BAS. More stringent regulations are expected to be implemented in future which would drive the market for BAS.

Major Key Players mentioned in this Premium Report

The report provides profiles of the companies in the global building automation systems market such as, Legrand SA, Hubbell Inc., ABBLtd., SiemensAG, Johnson Controls International PLC, DexCom, United Technologies Corp., Robert Bosch GmbH, Lutron Electronics Co., Inc. and Crestron Electronics, Inc.

Reasons to buy this report

1) Comprehensive analysis of global as well as regional markets of building automation systems (BAS)

2) Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2023.

3) Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.

4) Infinium Global Research- Growth Matrix presents analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.

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