According to
a research report "Building
Automation System Market with COVID-19 Impact by Communication
Technology, Offering (Facility Management Systems, Security and Access
Controls, and Fire Protection Systems), Application, Region - Global Forecast
to 2026",
published by MarketsandMarkets, the global building automation system market
size is projected to grow from USD 73.5 billion in 2021 to USD 112.1 billion by
2026; it is estimated to grow at a CAGR of 8.8% during the forecast period. The
growth of the building automation system market is fueled by the increasing
requirement of energy-efficient facilities with enhanced security systems.
Besides this, advancements in wireless communication technologies have lessened
the complexity and the cost of installing building automation systems in the
existing buildings.
“Building
energy management software market is expected to be the fastest-growing
building automation system offering segment during the forecast period”
The increased prices
of energy and the formulation of stringent energy-efficiency policies have made
it crucial to check the energy consumption levels in buildings. Building energy
management software help building operators or homeowners to continuously
monitor and analyze the amount of energy used by buildings. They not only
notify building operators or owners of energy drifts but also provide
actionable information for energy savings.
“Industrial
application is expected to be the fastest-growing application for building
automation system market during the forecast period”
The highest CAGR of
video surveillance services are due to a rise in the adoption of Video
Surveillance-as-a-Service (VSaaS). The growth in this market is driven by the
increasing importance of VSaaS in various application areas due to benefits
such as remote access and management. As video feeds are stored in the cloud,
customers can access and manage them using a desktop, laptop, or mobile device
from any location with an internet connection.
“North
America to account for large size of building automation system market in 2020”
North America is one
of the most developed regions in the world. It is also a leading market for
building automation systems. The region accounted for a major share of the
building automation system market in 2020. The rising requirement of energy
management and the increasing demand for green homes have resulted in the
growth of the building automation system market in North America. The market in
North America has been studied for the US, Canada, and Mexico. Government
organizations in countries of the region work together for efficient and clean
production and use of energy.
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Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=408
Major companies
involved in the development and supply of building automation system are
Johnson Controls (Ireland), Schneider Electric (France), Carrier (US), Siemens
AG (Germany), and Honeywell International (US).
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