Building Automation Systems Market to Rise Significantly from Key End-use Industry Sectors by 2026

‘Automation’ Becoming the Cornerstone of Building Infrastructure

Building automation systems (BAS) have seen momentous advancements in the past century, with an objective of redefining ‘comfort’ and ‘safety’ of building occupants. The implementation of automation systems in building infrastructure is getting better with each passing year, as proliferation of technology continues at a steady pace in the AEC (architecture, engineering, and construction) industry. From the 1950s to 1990s alone, building automation systems have come a long way from pneumatics to electronics to open protocols, and a promising debut of ‘easy-to-use’ systems will further complement this evolution. Though larger buildings continue to be at the forefront of the adoption of building automation systems, the last few years have seen ascending installations in small- and medium-sized buildings. This, in turn, brings along a new plethora of opportunities for new entrants to start with new projects, as property owners of these buildings will remain biased toward new companies offering attractive deals over the ‘well-established’ traditional suppliers.

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

Download sample copy of this report: https://www.futuremarketinsights.com/reports/sample/REP-GB-2150

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.

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.

Buy Now to Get 10% Off and Free Customization as per Requirement: https://www.futuremarketinsights.com/checkout/2150

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.

Mussel Extract Market: Global Industry Analysis 2014 - 2018 and Opportunity Assessment 2019 - 2029