The global market for building automation systems is expected to reach $116.4 billion by 2020.
(PRWEB) September 30, 2015
Transformation has gradually been taking place in the Building Management System (BMS) market. This market is trailing other markets, and as a consequence, these new technologies have had limited impact on how BMS systems work. BCC Research shows BMS systems will have a profound impact in the future and as a result, suppliers are trying to position themselves to take advantage of these changes.
The building automation market has been in a slow but steady growth period. While the various products are grouped together in this market, they are at various stages of development and showing varying degrees of growth, with more mature sectors (e.g., HVAC, lighting) demonstrating lower growth rates than emerging sectors (e.g., energy management, security).
In industrialized markets such as Europe and North America, the number of new construction projects has slowed. In booming markets such as China and emerging markets like South America and Africa, the underlying infrastructure is not yet as well developed so there is more new construction and higher growth rates for building automation initiatives in these markets than in the more mature venues. The changing market dynamics leave established vendors’ markets open to intrusion from newcomers who can leverage technology to deliver products and services more effectively.
“The most sophisticated, extensive, and integrated control systems are frequently found in the newest buildings or those that undergo significant renovation. Thus the market for building automation systems is inextricably linked to the fortunes of the construction industry,” says BCC research analyst Paul Korzeniowski. “The industry is served by hundreds of thousands of businesses worldwide. This places the market for these products with architects, developers, contractors, and construction companies.”
Commercial Building Automation Products: Technologies and Global Markets (IFT010D) technologies, markets, and factors influencing the markets for integrated control systems and systems that integrate the controls of various subsystems. Markets are forecast on the basis of historic activity and current opportunities, government initiatives and policies, and the status of the construction and renovation industries in specific nations.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.
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