Global Market Study on Building Automation
Systems: Security & Surveillance System Segment
Projected to Increase 2.6x Between 2016 and 2026
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Report Media Releases
Global Building Automation Systems Market to Register a
CAGR of 11.1%; Digitization to Play a Pivotal Role in
Market Growth
In reference to a new report published by Persistence Market Research, the global building
automation systems market will showcase significant growth between 2016 and 2026.
Manufacturers of building automation systems are rapidly adopting new regulations set across
the globe and they are also lining up new products to meet rising market demand. The
Persistence Market Research report titled, “Building Automation Systems Market: Global
Industry Analysis & Forecast, 2016-2026”, talks in detail about the market psyche and also
scrutinizes the market drifts which are expected to impact the future of the global building
automation systems market. The global building automation systems market was valued more
than US$ 43 Bn in 2015 and is expected to mint better revenue by the end of 2016, reaching
approximately US$ 48 Bn. The market will continue its journey towards expansion and the
market worth will reach US$ 141.1 Bn towards the end of 2026. The global building automation
systems market will record a CAGR of 11.1% during the projected period.
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Governments around the globe are rolling out different precautionary measures to cut down the
wastage of energy. Different new regulatory methods are adopted to reduce the consumption of
energy. This is a massive booster for the global building automation systems market. Several big
economies around the globe such as Europe, US and Japan have already curated some
restrictive methods to revise the previous trends. This opens a new window of opportunity for the
global building automation systems market. A slew of new technologies that are eroding this
market are actively affecting the global canvas of the market. Better and more advanced
technologies are enhancing the end-user experience and also increasing market outreach. The
introduction of smart web-based, cloud-based control networks backed by the Internet of Things
(IOT), mobile technologies, integrated building systems and facility management solutions are
expanding the periphery of the global building automation systems market. Last but not the least,
the urgent need for consolidated security solutions is also pushing ahead the market growth of
the global building automation systems market. These key factors will complement the all-round
development of the market within the forecast period but there are also certain key factors that
might barricade the normal development of the market within the period of forecast. Building
automation systems come with a high price tag and this is expected to impact their widespread
adoption. The absence of skilled manpower is another market growth deterrent.
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The rising incidences of security violations across the globe are likely to impact the growth of the
security and surveillance segment in the global building automation systems market. The
security and surveillance segment will exhibit a robust growth in terms of revenue and will
Global Building Automation Systems Market 2016-2026
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overshadow the market within the forecast period. The commercial segment will contribute
notably to the global building automation systems market. Towards the end of the projected
period, the commercial segment will touch a market worth of more than US$ 63 Bn and will
record a CAGR of 10.9%. Apart from this the government and residential segments will also
project promising growth trends by 2026 end. North America will lure maximum investors, as the
building automation systems market in this region will exceed a whopping value of US$ 55 Bn by
the close of 2026.
The global market for building automation systems is crowded with several players. The Rheem
Manufacturing Company, United Technologies, General Electric, Lennox International, Philips
Lighting Holding B.V., Ingersoll-Rand Plc. Honeywell International Inc., Johnson Controls are
some of the major players contributing to the growth of the market. They are establishing smart
IT backed platforms to provide advanced building automation systems to their customers.
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Global Building Automation Systems Market 2016-2026
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Global Building Automation Systems Market 2016-2026