04292017Headline:

Global Building Automation Market is Booming Thanks to Huge Demands

building-automation-market

Building automation is one of the most common types of distributed control system. Automation of the building is also an essential aspect of building control systems across the globe. Growing global demands for these services is expected to mark exceptional growth in the global building automation market. the industry for these systems is mainly driven by increasing requirements for energy efficient solutions, improved lifestyles and modernization of technologies are working in the favor of the growing industry, which is poised to make remarkable growth in the years to come.

Essential Components of Building Automation Industry

Different essential components of these distributed control systems make great segmentation in the global building automation and controls market. These segments are largely based on the types of products and their applications. The market is also segmented based on the geographical demands for each of these products and their applications. Based on geographical demands, the market is largely divided into different geographical regions including North America, Europe, Asia Pacific, Oceania, and Middle East. Following are the details about the crucial segmentation in the industry:

Products: Basic types of products in the market include security, access, lighting, outdoor, entertainment, HVAC, building management systems or BIS, and elevator controls. All these segments are further divided into different sub-segments. Security and access control segments are further classified into intrusion detection, biometrics, touch screens, keypad and video management.

Applications: The types of application majorly include commercial, residential, institutional and industrial. These four segments are further classified based on the types of buildings. These types include office, retail, residential schemes, lodging, healthcare, warehouse, educational, entertainment, religious, amusement, etc.

Current Market Trends and Business Prospects

Healthy compound annual growth rate is the highlight of the industry. According to expert analysts, the global industry is anticipated to flourish at a remarkable speed from 2013 to 2018. Based on the study for these years, the building automation and controls market is set to grow at a CAGR of 11.2%. The HVAC segment of the market is estimated to dominate the global demand with more than 33% of market shares. Highly evolving technologies and rising global demands for energy efficient building control systems seem to be the strongest reasons why the industry is poised to record a significant growth. Market segments like dimming systems, sensors and biometrics are expected to grow at a high rate, which is a great sign for the automation and controls industry on world scale.

What Next?

Related Articles