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(Hosting-NewsWire.com, November 30, 2018 ) Building automation and control system market was estimated as USD 30.8 Billion in 2014 and is expected to grow at a CAGR of 9.04% over the forecast period. The control system is applied to control and monitor the MEP system such as power monitoring, security, escalators & elevators, CCTV, water monitoring, fire alarm system and plumbing. The control system is installed majorly in residential, commercial, public buildings and institutional buildings. Therefore, the system is also referred as the structural interlink network control system.
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Increasing need for quick response with accuracy has led to the enhanced adoption of automation and control system in the industry. The control system helps in reducing the operating cost with existing energy resource and decreases the emission of carbon dioxide in the environment. Furthermore, growing need for the maintenance, reliability, support, customization and demand for the energy efficiency is projected to fuel the market growth over the forecast period.
One of the major factors for aiding the market growth and implementation in building is energy efficiency. The energy efficiency helps in reducing the environmental footprints and controls rising energy cost, hence raising the value of a building. Additionally, increasing trend of the wireless connectivity which further supports in control, remote monitoring, and increased security in buildings has also benefitted the industry growth.
Increasing implementation of IoT in commercial buildings such as corporate offices, retail stores, and production factories has further decreased the energy consumption, enhancing the energy efficiency. The industry players are switching from pneumatic devices to digital direct control (DDC) owing to their compatibility with the new devices.Furthermore, the market is segmented by products which include security and access control, lighting system, BMS, HVAC control, Fire and life safety, and others. The end users of building automation and control system market are categorized into residential, commercial and institutional and public buildings.
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Increasing trend for the energy efficient buildings has managed the premises to implement automated lighting control system such as sensors, timers, photo sensors, thus saving the excess usage of energy. Several lighting sources are employed in building for achieving the energy efficiency factor including incandescent lamps, LEDs which requires less maintenance with better lighting coverage.
North America is expected to dominate the automation market over the forecast period owing to the increasing large scale adoption in healthcare and industrial market in countries such as Mexico, U.S. and Columbia. Rising awareness for energy efficiency and growing investments in infrastructure is further anticipated to boost the market in Europe region. Furthermore, Asia Pacific is projected to witness significant growth over the forecast period owing to increasing investments from foreign investors in Oil and Gas sector, infrastructure, and industrial parks.
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Table of Content:
Global Building automation and control system Market Research Report 2018-2023
Chapter 1: Building automation and control system Market Overview
Chapter 2: Global Economic Impact
Chapter 3: Competition by Manufacturer
Chapter 4: Production, Revenue (Value) by Region (2018-2023)
Chapter 5: Supply (Production), Consumption, Export, Import by Regions (2018-2023)
Chapter 6: Production, Revenue (Value), Price Trend by Type
Chapter 7: Analysis by Application
Chapter 8: Manufacturing Cost Analysis
Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Building automation and control system Market Effect Factors Analysis
Chapter 12: Building automation and control system Market Forecast (2018-2023)
Chapter 13: Appendix
Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
Source: EmailWire.Com
Source: EmailWire.com
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