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Commercial Building Automation Systems Revenue is Expected to Total More Than $713 Billion from 2015-2023, According to Navigant ResearchA recent report from Navigant Research analyzes the global market for commercial building automation systems (BASs), including global market forecasts through 2023. Today, the opportunities presented by analyzing the vast amounts of data that BASs can collect are accelerating their adoption across the commercial building sector. In particular, the integration of smartphones into many interactions between humans and the world around them is shifting the expectations of building occupants for their experiences in the built environment. Click to tweet: According to a recent report from Navigant Research, cumulative worldwide revenue for commercial BASs is expected to exceed $713 billion from 2015-2023. "The adoption of BASs is being driven by several goals: to provide comfort for building occupants, optimize energy use, and comply with building energy codes," says Benjamin Freas, research analyst with Navigant Research. "Prevalent for some years in the largest and most modern buildings, BASs are now expanding into smaller buildings, as well." Advances in the deeper integration of disparate BASs (for heating, ventilation, and air conditioning, or HVAC, lighting, security, safety, and so on) are helping drive their adoption in commercial buildings, according to the report. However, these systems have yet to reach their full market potential. Growth in the BAS market remains dependent on rates of new construction and building retrofits, which, in turn, are driven by overall economic conditions in each world region. The rport, "Commercial Building Automation Systems," analyzes the global market for commercial BASs for HVAC, lighting, fire & life safety, and security & access controls, as well as integrated building management systems (BMSs). It assesses how market drivers and technology advances are expected to affect the adoption and success of these systems. Global market forecasts, segmented by five key application segments, eight commercial building types, and two construction types, extend through 2023. The report also provides in-depth profiles of the key industry players within the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website. About Navigant Research Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com. About Navigant Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals provide services that extend from expert and advisory work through implementation and outsourcing. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients' needs in highly regulated industries including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com. * The information contained in this press release concerning the report, "Commercial Building Automation Systems," is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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