NEW YORK, UNITED STATES, January 12, 2022 /EINPresswire.com/ -- Market Overview -

New Research Study on Building Automation Systems are systems that can make buildings more efficient and safe by automating many processes involved in daily operations inside the buildings. Building automation helps manage and sustain the daily operations inside the buildings. The construction and real estate sector is increasingly adopting building automation systems, typically to enhance control of building’s various systems such as electrical, heating and cooling (HVAC), security, and more. As a matter of fact, these control systems vary as per the nature of the building. According to the India Brand Equity Foundation (IBEF), India is expected to become the world’s third-largest construction market by 2022.

The global building automation systems market was valued US$ 69.64 Bn in 2019 and expected to reach US$ 153.43 Bn with exhibiting a CAGR of 10.0 % during the forecast period (2019-2027).

Building Automation Systems includes Building Monitoring Equipment, distributed control software, and building automation networks. Building monitoring equipment monitors the conditions of buildings and their occupants. Despite these advantageous factors, there are several challenges that can still limit the future development of the market.

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Market Opportunity -

Companies in the same industry that provide services connected to building automation systems have a lot of room to grow.

There are a number of important services related to building automation systems that might give BAS providers with significant growth opportunities. Building automation systems connect a variety of devices via Bluetooth, IoT, and other methods. Additionally, interoperability and compatibility difficulties are projected to worsen, presenting lucrative growth prospects for service providers during the projection period.

Market Driver -

The adoption of building regulatory compliance by an increasing number of nations is likely to boost growth in the global building automation systems market during the forecast period.

Various governments are focusing on enacting regulatory rules to decrease energy waste. Buildings such as residential, commercial, and government consume a significant amount of energy and resources, which is why governments in many nations are likely to enact tight regulatory regulations in the near future. Furthermore, European countries and Japan already have stringent regulatory policies to adhere to, and this is becoming more common in the United States. As a result, such rules are projected to promote the growth of the worldwide building automation systems market in the coming years.

Building Automation Systems Market Top Growing Companies -

· Johnson Controls Inc.
· United Technologies Corporation
· Cisco Systems Inc.
· Honeywell International Inc.
· Legrand SA
· Siemens AG
· Schneider Electric SE
· Ingersoll-Rand plc
· Bosch Security Systems
· Philips Lighting Holding B.V.
· General Electric Company
· Lennox International Inc.
· Rheem Manufacturing Company

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Market Segmentation -

By System

· Security & Surveillance
· HVAC
· Lighting Solutions
· Building Energy Management
· Others

By Application

· Commercial
· Residential
· Government
· Others

Regional analysis -

Geographically, the Building Automation Systems market is separated into regions such as North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The research covers all from manufacturing and customer shares to market size and market share, import and export ratios, supply and demand, consumer demand ratios, technological improvements, R&D, organization growth, economic growth, and a strong market presence in every region. The report covers a detailed analysis for each major regional market across the globe and provides future outlook predictions for the same.

Method of Research -

The study presents first-hand information gathered by key stakeholders through quantitative and qualitative assessments based on the Porter's Five Force Model's criteria. It elucidates macroeconomic statistics, parent market trends, and growth drivers. To gain a deeper understanding of the market, primary (surveys, interviews, and questionnaires) and secondary research (SEC filings, white paper references, and published reports) were conducted. The data included in the study has gone through a multi-step verification process to ensure both the validity and quality of the information presented. The legitimacy of the valuations and market segmentation is also ensured using bottom-up and top-down methodologies.

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The following are the study objectives for this report: -

· SWOT Analysis focuses on worldwide main manufacturers to define, assess, and analyse market competition. By kind, application, and region, the market is defined, described, and forecasted.
· Examine the global and main regional market potential and advantage, opportunity and challenge, constraints and risks.
· Determine whether trends and factors are driving or limiting market growth.
· By identifying high-growth categories, stakeholders would be able to analyse market potential.
· Conduct a strategic study of each submarket's growth trends and market contribution.
· Expansions, agreements, new product launches, and acquisitions in the market are all examples of competitive developments.
· To create a strategic profile of the main players and analyse their growth plans in depth.

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