The market for building automation system is projected to get to $100.60 billion by the year of 2022, at a compound annual growth rate of 10.65% starting from 2016 through to 2022. This market was worth $49.37 billion in 2015. The mounting apprehension for the preservation of energy on top of the mounting price of energy is propelling the insistence for energy-efficient constructions.
This system does not just help in increasing the energy effectiveness of the construction. It also helps in enhancing the safety in the buildings. This is propelling the insistence for this system.
Commercial buildings segment likely to retain the prime share of the market for building automation system
The business buildings application is likely to retain the leading share of the international building automation system marketplace for the duration of the forecast phase. The insistence for the preservation of energy and drop in the general operating expenditure is the utmost in this quarter, which is among the key driving causes for the development of this marketplace.
The market for building automation system in Asia Pacific is likely to develop the fastest
The marketplace in Asia Pacific is likely to develop at a lofty compound annual growth rate starting from 2016 through to 2022. The speedy development of the construction business in this section in conjunction with the government schemes has donated to the development of the building automation system marketplace in the Asia-Pacific section.
Who are the key participants?
In a bid to determine and verify the marketplace size for a number of sections and subsections gathered via secondary study, widespread primary dialogues were held with key individuals. Going by the findings from such interviews the vital players in the marketplace consist of United Technologies Corporation of USA, Honeywell International Inc. of USA, Johnson Controls Inc. of USA, Schneider Electric SE of France, Hubbell, Inc. of USA, Siemens AG of Germany, Ingersoll Rand PLC of Ireland, Legrand SA of France, Robert Bosch GmbH of Germany and ABB of Switzerland, to name a few.
Tags: Asia Pacific, building automation system, energy efficient construction