04282017Headline:

Growing Building Automation Market and Its Significance for Your Business

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Distributed control systems assist in the process of controlling the production like in a manufacturing industry. it is an umbrella term that comprises of several types like electronic power grids, traffic signals, water management, radio signals, oil refining, building automation, etc. building automation is one of the most popular types of distributed control system, which is defined by different components like building security, access, lighting and entertainment. Global building automation market is growing with increasing demand for the building assistance and increasing demand for energy efficiency. Technological advancements and conservation of time also play key role in terms of demand, supply and production in the global industry, which is poised to witness strong future.

Segmentation

Basic segmentation in the industry for building automation systems depends on two crucial factors, which include the types of products and their applications across different industrial verticals. Most popular products in building automation market include HAVC, security, lighting, access, outdoors, building management, entertainment systems and elevator controls. All these components or products in the industry are used across various sectors of different business verticals.

Applications of building automation systems are largely directed at residential, commercial, industrial and institutional sectors. These four basic segments of application sector are divided on the basis of the building types. Basic types of buildings include offices, commercial complexes, residential schemes, educational buildings, warehouses, lodging and hotels, amusement, religious buildings, healthcare and hospital buildings, etc.

Drivers and Future Expectations

Based on the current trends in the global building automation market, researchers estimate it to be growing at a healthy rate. From 2013 to 2018, the industry is anticipated to grow at the CAGR of over 11%. Amongst various segments of the industry, HVAC section is expected to dominate the global industry. HVAC segment is poised to capture more than 30% of market shares. Energy conservation is one of the biggest drivers for the global industry. the need to control energy consumption, customers are switching to energy efficient building automation systems, which is creating better business opportunities for the existing players.

Technological advancements in the functions of different systems in the industry are creating better prospects for expansions. Emerging markets like Asia Pacific and Middle East are also contributing to the overall growth in the industry. Experts suggest that use of wireless technologies and software as a service (SaaS) technologies will also benefit the industry worldwide.

What Next?

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