Global Commercial Building Automation market will register a CAGR of nearly 4.9% during the period from 2020 to 2026.
New York, United States - November 2, 2020 /MarketersMedia/ —
As per analysts at Zion Market Research, the global commercial building automation market is predicted to develop at a CAGR of about 4.9% during the forecast period 2020–2026. Globally, the market is developing at a noteworthy rate as the requirement for energy-efficient buildings is augmenting. Several companies and administrations in various regions have moved their focus on developing green building that has resulted in the growth of the commercial building automation market. A number of initiatives for instance launch of advanced products, mergers and acquisitions, and penetration into new markets played an important role in the expansion of the commercial building automation market. The market is exceedingly fragmented due to the existence of a large number of regional players.
Some of the key players in the market are ABB Ltd., Honeywell International Inc., Robert Bosch GmbH, Ingersoll Rand Plc., Siemens AG, Hubbell Inc., Schneider Electric SE, Johnson Controls International plc., and Cisco Systems Inc.
Construction Segment Estimated To Propel The Global Building Automation Market
The global commercial building automation market is developing and is projected to witness a lucrative growth owing to the constant developments in the construction segment. With the increasing economic growth, the requirement for construction projects has surged around the world. The regions such as Africa and the Middle East have a powerful base concerning commercial building automation and thus, this factor is projected to boost the market expansion in the future. The rapid growth in the construction segment has also caused to decrease in the volumes of materials along with less utilization of the power. Adding to this, the administrations have implemented different stringent guidelines in the effective deployment of resources as ecological pollution has been surging over the past few years.
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The global commercial building automation market is bifurcated on the basis of product type, end-user, communication technology, deployment type, and regional analysis. Based on the end-user, the market is divided into airports, railway, office buildings, retail & public assembly buildings, and hospitals & healthcare facilities. Based on the product type, the market is divided into facility management systems, fire protection systems, security & access control systems, building energy management software, BAS services, and others. The facility management systems segment is subdivided into HVAC control systems and lighting control systems. The fire protection systems segment is subdivided into fire sprinklers, sensors & detectors, fire alarms, and others. The security & access control systems segment is subdivided into video surveillance systems and biometric systems. Based on the communication technology, the market is divided into wireless technologies and wired technologies. Based on the deployment type, the market is divided into the cloud and on-premise.
North America Is Projected To Witness The Highest Share In The Global Commercial Building Automation Market
Based on the geographical analysis, the global commercial building automation market is divided into Europe, North America, Latin America, Asia Pacific, and Middle East & Africa. The North America region is witnessing major growth in the building automation systems market, since commercial, residential, and industrial customers are adopting remarkable energy-saving solutions with the use of building automation controls.
The global commercial building automation market is segmented as follows:
By product type:
Facility Management Systems
HVAC Control Systems
Lighting Control Systems
Security and Access Control Systems
Biometric Systems
Video Surveillance Systems
Fire Protection Systems
Fire Sprinklers
Fire Alarms
Sensors and Detectors
Others
BAS Services
Building Energy Management Software
Others
By end-user:
Hospitals and Healthcare Facilities
Retail and Public Assembly Buildings
Airports
Railway
Office Buildings
By deployment type:
Cloud
On-Premise
By communication technology:
Wired Technologies
Wireless Technologies
By region:
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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Source: MarketersMedia
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