DUBLIN--(BUSINESS WIRE)--The "Global Building Automation System Market - Segmented by Type, End User, and Region - Growth, Trends and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global building automation system market was valued at USD 44,067 million in 2017, and is expected to reach a value of USD 82,517.4 million by 2023, recording a CAGR of 11% over the forecast period 2018-2023.
Building automation solutions are emerging as cost-effective tools for essentially all forms of buildings, regardless of energy costs, usage, or climatic conditions. The average net energy savings per installation is about 36% for space heating, water heating, and cooling/ventilation (HVAC), and 23% for lighting. The reduced energy consumption is also contributing toward climate change mitigation. Europe's emission from fuel combustion is likely to witness a reduction of 9-14% by 2035.
Owing to the rising environmental concerns, many organizations are adopting smart building networks to reduce the energy consumption and operational costs in commercial buildings, thus, favoring the market. Globally, it was also estimated that commercial building owners and managers are expected to invest USD 960 billion between 2016-2023 on making their existing infrastructure more eco-friendly.
Flexible Germany has been a leader on the technological front in Europe, owing to government regulations, which are encouraging the adoption of smart services. This is expected to drive the growth of the smart office and smart homes market in the country. The introduction of Energy Performance Certificates (EPC) for buildings in 2014 had significantly favoured the market for building automation systems in Germany.
Companies Mentioned
- Honeywell International Inc.
- ABB Ltd.
- Siemens AG
- Johnson Controls International PLC
- Hubbell Inc
- United Technologies Corp.
- Schneider Electric SE
- Robert Bosch GmbH
- Emerson Electric Co.
- Mitsubishi Electric Corporation
- Ingersoll-Rand PLC
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Global Building Automation System Segmentation
6. Competitive Intelligence
7. Investment Analysis
8. Future of the Building Automation System Market
For more information about this report visit https://www.researchandmarkets.com/research/pnt8ms/global_building?w=4
