Friday, 22 October 2021 02:03 GMT

Building Automation Systems Market New Innovations Trends, Research, Global Share and Growth Factor


(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Oct 14, 2021, 06:19 /Comserve / -- Building Automation Systems Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

The Building Automation Systems Market as valued at USD 75.0 billion in 2019 and is expected to reach USD 140.3 billion by 2025, at a CAGR of 11% over the forecast period 2020 - 2025. Building automation systems, otherwise known as building automation and control systems (BACS), are automated systems that integrate and connect different facility technologies, including HVAC, lighting, surveillance, and security, among others, through information flow to a monitoring point.

- The need for energy management and the growing emphasis on overcoming utility costs continue to drive the adoption of building automation systems. In developed parts of the world, most of the high-rise buildings are equipped with these solutions.
- Energy consumption is expected to increase over the coming years; according to the US Energy Information Administration (EIA), global energy consumption is expected to grow by nearly 50% during 2018-2050, with Asia being the major consumer of energy over the years.
- In order to enhance their energy efficiency, various significant economies have already formed regulations, and other countries are following suit. For example, the 2012 Energy Efficiency Directive established measures to help the EU reach a 20% energy efficiency target by 2020; this was amended in 2018, with an energy efficiency target of at least 32.5% for 2030. Such developments in the regions are forcing businesses and homes to adopt energy-efficient solutions.

Click Here to Download Sample Report >> 

Key Market Trends

Increasing Demands for Smart Buildings is Boosting the Market Growth

- The increasing market for smart building across developed and developing economies is anticipated to aid BAS's demand. According to Johnson Controls' 2018 Energy Efficiency Indicator survey, companies in the US are planning to increase investments in smart building measures, including building controls and building systems integration, at a higher rate than more traditional energy efficiency measures. Canada's Building Strategy, adopted in 2017, focuses on efficiency and reducing greenhouse gas emissions, emphasizing net-zero energy buildings.
- Governments across regions have been actively involving in setting the limits for energy consumption. For instance, the Canadian government is emphasizing energy conservation through smart buildings by using offices and homes. During the same period, the Government of India also developed 'The Energy Conservation Building Code' (ECBC), which sets minimum energy performance standards for buildings and includes the building envelope, heating, ventilation, and air conditioning. Hence, the growing adoption of connected systems could help such regions to save energy.
- In Europe, a Smart Readiness Indicator was adopted as part of the 2018 revision of the European Energy Performance of Buildings Directive to promote smart building technologies. The Clean Energy for All European initiative includes a program with the European Investment Bank to offer to finance for smart buildings.

North America is Expected To Hold the Major Share

- North America holds the most significant share of the global market due to the high number of early adopters in the United States and Canada. Over the forecast period, the region is expected to dominate the global market, owing to its developed infrastructure that can accommodate building automation solutions in the residential and commercial segments.
- The governments in the region are shifting toward adopting such smart solutions due to the energy-saving benefits offered by such systems. The US Green Building Council runs the 'LEED' program in collaboration with the Bank of America Charitable Foundation, providing support to the local governments that are looking for adopting sustainable solutions.

Request For The Sample Report Here: 


- The building automation systems market in the United States has been witnessing significant growth, like residential, commercial, and industrial consumers are adopting tremendous energy-saving solutions to deploy building automation controls.
- Various federal policy directives regarding rising energy costs, stringent regulations concerning greenhouse gas emissions, and increasing awareness about automation's benefits are significant factors driving the United States' market.
- Further, the presence of major building automation systems companies, like Siemens, coupled with the evolution of new concepts and major technological contributions, fuels the demand for building automation solutions in this region.
- The commercial sector accounts for nearly 20% of the United States' energy consumption and 12% greenhouse gas emissions in the country, according to the US Energy Information Administration. By reducing waste and conserving energy, smart buildings (equipped with building controls systems) create benefits at large.

Competitive Landscape

The building automation market is highly fragmented with many players involved. Companies are also increasing their market presence by introducing new products, expanding their operations, or by entering into strategic mergers and acquisitions. Some of the recent developments in the market are:

1 INTRODUCTION
1.1 Study Assumptions​ and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHT
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Indusrty Value Chain Analysis

5 MARKET DYNAMICS

Request For Full Report >>  Building Automation Systems Market

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.


MENAFN14102021004694010674ID1102972937


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.