NEW YORK, November 3, 2017 /PRNewswire/ --
Persistence Market Research presents a revised forecast for the global building automation systems market in a recent publication titled "Building Automation Systems Market: Global Industry Trend (2012 - 2016) and Forecast (2017 - 2025)." The global building automation systems market was valued at US$ 49.2 Bn in 2016 and is expected to expand at a CAGR of 11.1% during the forecast period (2017-2025) to reach a market valuation of US$ 141.1 Bn by the end of 2025. In the old version of the report the CAGR and the market numbers were calculated on the basis of the market scenario presented in 2014-2015. In the new version the market numbers for 2012-2016 are taken as historical numbers and market revenue is forecasted for 2017-2025. Demand for building automation systems is largely expected to be driven by growing regulatory compliance across countries thereby driving market demand for the deployment of building automation systems.
Global Building Automation Systems Market - Forecast by System
On the basis of system, the global building automation systems market is segmented as security & surveillance, HVAC, lighting solutions, building energy management, and others. In terms of value, security & surveillance segment is expected to maintain its dominance throughout the forecast period, estimated to hold about 33% of the global market share by the end of the forecast period in 2025.
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Global Building Automation Systems Market - Forecast by Application
On the basis of application, the global building automation systems market is segmented into commercial, residential, government, and others. The commercial segment is estimated to account for a relatively high value share, and be valued at US$ 25.7 Bn by the end of 2017. This segment is expected to remain dominant in terms of revenue throughout the forecast period.
Global Building Automation Systems Market - Forecast by Region
The report tracks the performance of the global building automation systems market across the key geographies of North America, Latin America, Asia Pacific Excluding Japan, Japan, Eastern Europe, Western Europe, and Middle East & Africa. Among these regions, North America accounted for the largest market share in 2016 owing to new technologies entering the regional building automation systems market. In terms of value, the North America building automation systems market is anticipated to increase 2.2X between 2017 and 2025. In terms of value, the APEJ building automation systems market is anticipated to increase 2.5X between 2017 and 2025. North America is projected to be the most attractive among other regions in the global building automation systems market during the forecast period. The North America building automation systems market is also expected to register high Y-o-Y growth rates throughout the forecast period.
Global Building Automation Systems Market - Key Regional Trends
- Federal sector attracting building automation solution providers in the U.S.: In the U.S., companies were focused on the municipalities, universities, schools and hospitals (MUSH) vertical, which provided a consistent source of revenue over the last few decades. However, building automation systems providers currently lay emphasis on offering solutions to the federal or government sector.
- China's growing urban floor space supported with its growing commercial floor space and declining rural floor space to prompt building automation systems solution providers to focus more on urban areas: China's urban floor space is increasing, while growth in rural floor space has been declining, owing to residents in rural areas migrating to cities. However, floor space in rural residential buildings is still significant in terms of total area. Commercial floor space in China is also growing, although the stock of commercial buildings is relatively small compared to residential buildings. This has prompted building automation systems providers to focus more on rural areas in the region.
Global Building Automation Systems Market - Key Players
Key competitors in the building automation systems market are Johnson Controls, Honeywell International Inc., Siemens AG, Ingersoll-Rand Plc., Philips Lighting Holding B.V., Lennox International, United Technologies, Rheem Manufacturing Company, General Electric, Schneider Electric, Legrand, and Cisco Systems Inc.
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