Intelligent Building Automation Technologies Market Exhibits 7.1% CAGR to Reach USD 125.74 Billion by 2028
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Rising need for improvement of security and safety in intelligent buildings is driving market revenue growth
VANCOUVER, BC, CANADA, May 9, 2023 /EINPresswire.com/ -- The global Intelligent Building Automation Technologies (IBAT) market size is expected to reach USD 125.74 Billion in 2028 and register a revenue CAGR of 7.1% over the forecast period, according to the latest report by Emergen. Rising need for improvement of security and safety in intelligent buildings is driving intelligent building automation technologies market revenue growth.
IBAT accentuates a multidisciplinary effort to integrate and optimize the building structures, systems, services, and management in order to create a cost effective and environment-friendly product for the occupants. It provides a flexible, effective, comfortable and secure environment to the owner, operator, and occupant. It offers different kind of smart technologies to ensure the user’s safety and convenience such as functionality checks and detector service for fire and life safety, utility monitoring (electricity/water/gas/oil) for preventing accidents, lighting back-up generation, and others. IBAT is experiencing high demand in international market owing to this.
Intelligent Building Automation Technologies Market provides recent industry information and highlights various trends impacting the growth of the market. It also highlights key vendors, various analysis techniques, and drivers with a market forecast from 2021 to 2028. In addition, Intelligent Building Automation Technologies market size, trade facts discussion, and market share evaluation help to Understand the entire industry structure accordingly. Besides that, it lists business outlook, revenue, and consumption of Intelligent Building Automation Technologies market by country.
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Some Key Highlights from the Report
In June 2021, Azbil Corporation announced development of new digital solutions utilizing Artificial Intelligence (AI) and big data. The company is receiving the support of Singapore Economic Development Board (EDB) to boost growth of smart city projects in Singapore. This project is expected to drive IBAT market revenue growth in Singapore.
Hardware segment accounted for a significantly large revenue share in 2020 owing to increasing demand for various hardware equipment, such as actuators, sensors, controllers, and others. Multi-layered smart hardware solutions ensure high quality of service and cost-reduction by reducing energy consumption. It also helps in managing Heating, Ventilation and Air-Conditioning (HVAC) systems through automated control.
Commercial segment registered a significantly large revenue share in 2020 owing to rapid adoption of IBAT solutions in large commercial sites. Demand for IBAT systems is growing rapidly among various sites, including industrial zones, shopping malls, offices, and seaports owing to its cost and energy efficiency. Moreover, deployment of intelligent building solution in such commercial areas help in improving spatial management and overall maintenance.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Prominent Players Analyzed in the Report:
ABB Ltd., Azbil Corporation, Eaton Corporation, Honeywell International Inc., Hubbell, Inc., Siemens AG, Johnson Controls, Rockwell Automation, Inc., Schneider Electric, and Ingersoll Rand.
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The objective of the Global Intelligent Building Automation Technologies Market research report is to describe the crucial segment. It helps in making essential business decisions by having complete insights of Intelligent Building Automation Technologies market as well as by conducting in-depth analysis of different segments. This research report is a beneficial source of perceptive data for a business approach because it presents the market overview and growth assessment with its historical as well as futuristic data for the user.
Emergen Research has segmented global intelligent building automation technologies market on the basis of type, product, application, and region:
Type Outlook (Revenue, USD Million, 2018–2028)
Hardware
Software
Service
Product (Revenue, USD Million, 2018–2028)
Facility Management Systems
Security Systems
Life Safety Systems
Building Energy Management Systems
Application Outlook (Revenue, USD Million, 2018–2028)
Residential
Commercial
Industrial
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The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2021-2028. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Overview of the Intelligent Building Automation Technologies Market Report:
Introduction, Product Scope, Market Overview, and Opportunities
Analysis of the Manufacturers with sales, revenue, and price analysis
Comprehensive analysis of the competitive landscape
Extensive profiling of the key competitors along with their business strategies and market size
Regional analysis of the market along with sales, revenue, market share, and global position
Country-wise analysis of the market along with types, applications, and manufacturing
Strategic recommendations to established players as well as new entrants
In-depth analysis of the risks, restraints, and limitations in the Intelligent Building Automation Technologies industry
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