Building Automation and Control System Market Players Focused on Incorporating Advanced Technologies to Gain Competitive Edge: TMR

- Global building automation and control system market is poised to grow at CAGR of~9% during the forecast period of 2019 to 2027. Increased interest of major vendors to incorporate advanced technologies will boost the market expansion.

- On regional front, North America is one of the important regions that hold large market share.

ALBANY, N.Y., Sept. 22, 2020 /PRNewswire/ -- Building automation and control system is defined as an automatic centralized system that allows for monitoring, controlling, and recordingall activities of building services. These systems assist in minimizingthe environmental impact and energy costs of the building.At the same time, they help in maintaining the building environment efficiently.

Building automation and control systems find application in lighting control system, facility management, fire control system, heating, ventilation & air-conditioning, video surveillance, safety & security system, energy management system, and access control.

Analysts at TMR state that the global building automation and control system market will show prominent growth and expand at a prodigious CAGR of ~9% during the forecast period of 2019 to 2027. The list of important factors driving this market growth includes rising acceptance of IoT, advancement in cloud computing, and network infrastructure.

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Key Findings of Building Automation and Control System Market Report

• The global building automation and control system market is projected to grow at a CAGR of ~9% during the period of assessment.
• Total valuation of the building automation and control system market is predicted to exceed ~US$ 326 Mn by 2027 end.
• On regional front, North America is foreseen to gain major market share in the upcoming years.

Explore 262 pages of top-notch research, incisive insights, and detailed country-level projections on Building Automation and Control System Market (Technology: Wired and Wireless [ZigBee, Wi-Fi, Bluetooth, and Others]; Application: Facility Management [Lighting Control System and Heating, Ventilation & Air-conditioning], Fire Control System, Safety & Security System [Video Surveillance and Access Control], Energy Management System, and Others [Smart Locks and Plugs]; and End User: Residential, Commercial, and Industrial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/building-automation-control-system-market.html

Building Automation and Control System Market: Key Driving Factors and Promising Avenues

• The global building automation and control system market is foreseen to show prodigious growth during 2019–2027. Key reason attributed to this growth is noteworthy advancements in technologies.
• Introduction of advanced technologies such as Zigbee, Wi-fi, and nternet of Things (IoT)in present building automation and control systems will help in the rapid expansion of this market in the years ahead.
• In recent period, major commercial as well as small to medium-sized residential buildings in all worldwide locations are inclined toward the use of building automation and control systems. This is one of the key factors stimulating the growth of building automation and control system market.

Building Automation and Control System Market: Competitive Assessment

• The building automation and control system market experiences highly competitive landscape on the back of presence of many well-established players in it. As a result, vendors are executing diverse strategies to maintain their leading market position.
• One of the important strategies in trend today is mergers and acquisitions. Industry leaders in the market for building automation and control systemare increasing focus on acquisitions of their smaller competitors.
• Numerous companies engaged in the building automation and control system market are investing heavily in research and development activities. Key motive of this strategy is to develop technologically advanced products.
• In addition to this, the increased number of product launches by major enterprises is indicative of the rapid expansion potential in the global building automation and control system market in the years ahead.
• The list of important companies profiled in the report on building automation and control system market includes ABB Ltd., Honeywell International Inc., BuildingIQ, 75F, LLC, Crestron Electronics, Inc, Johnson Controls International Plc, Siemens AG, Legrand, Hubbell, United Technologies Corporation, and Schneider Electric SE.

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The Building Automation and Control System Market can be segmented as follows:

Technology

• Wired
• Wireless
• ZigBee
• Wi-Fi
• Bluetooth
• Others

Application

• Facility Management
• Lighting Control System
• Heating, Ventilation & Air-conditioning
• Fire Control System
• Safety & Security System
• Video Surveillance
• Access Control
• Energy Management System
• Others (Smart Locks and Plugs)

End User

• Residential
• Commercial
• Industrial

Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

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