Global Commercial Building Automation market will register a CAGR of nearly 4.9% during the period from 2020 to 2026.
Commercial Building Automation Market
The global Commercial Building Automation market will register a CAGR of nearly 4.9% during the period from 2020 to 2026. The report offers assessment and analysis of the Commercial Building Automation market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Details of the Report:
2017 and 2018
Earnings provided in terms of USD Billion and CAGR estimated from 2020 to 2026
By Product Type, By End-User, By Communication Technology, By Deployment Type, and By Region
North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa
Commercial building automation is the centralized control system that is mechanized and which regulates operations like air conditioning, lightning, heating, ventilation, and various other systems of buildings with the help of building automation technology. Furthermore, the main goal of deploying these commercial building automation systems is proficient functioning of the fitted system of the constructions & structures along with the need for mitigating the operational costs. In addition to this, growing requirement for energy conservation, need for addressing occupant’s comfort, and requirement for enhancing the lifespan of utilities will upsurge the market demand over the forthcoming years.
Market Growth Dynamics
The humungous requirement for power-proficient commercial constructions is anticipated to steer the expansion of commercial building automation industry during the forecast timespan. Apart from this, technological breakthroughs including use of connected things in automation systems of edifices and acceptance of building automation protocols & building codes coupled with growing use of automation systems in structures will boost the market trends.
Furthermore, favorable government initiatives for construction of green structures will embellish the market expansion over the forecast timeline. Apart from this, huge demand for automating systems in buildings with small & medium size will further aggrandize the scope of the market in the years ahead.
North America Market To Establish Dominant Position Even During Forecast Period
The regional market growth over the forecast timeline is due to mounting need for augmenting energy efficiency along with need for shrinking operating costs in the countries like the U.S. and Canada. Apart from this, strict implementation of building codes by the authorities in these countries will proliferate the regional market expansion over the forecast timeline.
Key players influencing the market growth include Hubbell Inc., ABB Ltd., Johnson Controls International plc, Honeywell International Inc., Schneider Electric SE, Robert Bosch GmbH, Ingersoll Rand Plc, Siemens AG, and Cisco Systems Inc.
The global commercial building automation market is segmented as follows:
By product type:
By deployment type:
By communication technology:
Humungous requirement for power-proficient commercial constructions is anticipated to steer the expansion of commercial building automation will steer the market growth over the coming years.
The CAGR of the industry is expected to be nearly over 4.9% during the forecast time.
North America will contribute remarkably towards the global market share over the estimated timeframe.