At 10+% CAGR, Building Automation System Market Potentially Worth $99.11 Billion by 2022 Led by Security & Access Control Systems
The building automation system market (BAS) is forecast to reach $99.11 billion by 2022 from $53.66 billion in 2016 at a CAGR of 10.73% during (2017-2022) driven by increase in demand for energy-effic...
March 14, 2017 --
PUNE, India, March 14, 2017 /PRNewswire-iReach/ -- The building automation system market in APAC likely to grow at the highest rate during the forecast period. APAC is expected to be the fastest-growing market for BAS. The market in this region has been subsegmented 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. Complete report on "Building Automation System 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.
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.
The BAS market estimated to grow at a CAGR of 10.73% between 2017 and 2022. However, the high cost of implementation, technical difficulties, and lack of skilled experts are the factors restricting the growth of the market. From an insight perspective, this research report has focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, value chain analysis; company profiles that discuss the basic views on the competitive landscape, emerging and high-growth segments of the BAS market, high-growth regions; and market dynamics such as drivers, restraints, challenges, and industry-specific opportunities.
The building automation system market (BAS) for security and access control systems expected to grow at the highest rate during the forecast period. 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.
This research study is obliging for following audience:
- Original device manufacturers (ODMs)
- Building automation service providers
- Networking technologies vendors
- Real estate builders
- Building automation software solutions providers
- Building automation service providers
- Component suppliers
- Research organizations and consulting companies
- Application providers
- Subcomponent manufacturers
- Technology providers
- BAS-related associations, organizations, forums, and alliances
The major companies in the BAS ecosystem include 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 BuildingIQ (U.S.) among others.Download PDF Brochure "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/request-sample?rname=72724 .
In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (30%), Tier 2 (40%) and Tier 3 (30%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (30%), Manager (35%) and others (30%) from various key organizations operating in the Building Automation System Market. The primary interviews were conducted worldwide covering regions such as North America (40%), Europe (20%), APAC (30%) and Row (10%).
Research Coverage: The BAS market is segmented on the basis of communication technology in wired technology and wireless technology. On the basis of application the market has been segmented into residential, commercial, and industrial application. The market is segmented on the basis of offering into facility management systems, security and access control systems, fire protection systems, building energy management software, BAS services, and others. The geographic analysis of the BAS market has been done with regard to four major regions - North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).
On a related note, another research titled Smart Building Market Global Forecast to 2021 says, the smart building market size is estimated to be $5.73 billion in 2016 and is projected to reach $24.73 billion by 2021, at a CAGR of 34.0% from 2016 to 2021. Intelligent security system segment is estimated to be the fastest-growing market segment. Europe is expected to dominate the market in 2016, whereas APAC would grow at the highest CAGR during the forecast period. Companies such as ABB Group (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), Cisco Systems, Inc. (U.S.), IBM Corporation (U.S.), Delta Controls (U.S.), Johnson Controls (U.S.), Honeywell International, Inc. (U.S.), United Technologies Corporation (U.S.) and BuildingIQ (Australia) have been profiled in this 183 pages research report available at http://www.rnrmarketresearch.com/smart-building-market-building-automation-systems-physical-security-building-energy-management-systems-bems-building-communication-systems-parking-management-water-management-networking-wor-market-report.html .
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