The building automation system (BAS) market is expected to reach USD 99.11 billion by 2022, at a CAGR of 10.73% between 2017 and 2022 while APAC is likely to grow at the highest rate during the forecast period.
Pune, India - March 10, 2017 /MarketersMedia/ —
Factors such as increase in demand for energy-efficient systems, growing need for the automation of security systems in buildings, and advancement of IoT in BAS are expected to fuel the growth of the overall BAS market. However, the high cost of implementation, technical difficulties, and lack of skilled experts are the factors restricting the growth of the market.
Complete report on building automation system (BAS) market spread across 189 pages, profiling 13 companies and supported with 78 tables and 66 figures is now available at http://www.rnrmarketresearch.com/global-building-automation-controls-market-2013-2018-by-product-lightingsecurity-accesshvacentertainmentoutdoor-elevator-controls-building-management-systems-bms-applicati-market-report.html .
The BAS market for security and access control systems is expected to grow at the highest rate during the forecast period. The need for increased level of security, activity monitoring, and access control has led to the rise in the demand for security and access control systems. The demand for home security solutions is also growing at a rapid pace because of various factors such as technological advancements, rise in crime rates, need for medical assistance to the senior citizens at home, and monitoring the children at home.
The key market players profiled in this report such as Honeywell International Inc. (U.S.), Siemens AG (Germany), Johnson Controls International PLC (Ireland), Schneider Electric SE (France), United Technologies Corp. (U.S.), Robert Bosch GmbH (Germany), Legrand SA (France), Hubbell Inc. (U.S.), ABB Ltd. (Switzerland), Ingersoll-Rand Plc (Ireland), Lutron Electronics Co., Inc. (U.S.), Crestron Electronics, Inc. (U.S.) and Building IQ (U.S.). Order a copy of Building Automation System Market by Communication Technology (Wired, and Wireless), Offering (Facilities Management Systems, Security & Access Control Systems, and Fire Protection Systems), Application, and Region - Global Forecast to 2022 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=72724 .
APAC is expected to be the fastest-growing market for BAS. The market in this region has been sub segmented into India, China, Japan, and Rest of APAC. The expected growth is attributed to the high economic growth witnessed by the major countries in this region. The rapid modernization and increase in construction activities in the APAC region has accelerated the growth of automatic centralized control of the HVAC systems installed in this region, ultimately leading to the growth of the BAS market in APAC. North America accounted for the largest share of the BAS market in 2016. The commercial and residential applications hold the largest share of the North American BAS market, and the demand of BAS for these applications as well as the growing demand for the industrial application is likely to fuel the BAS market in North America.
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