The building automation & controls systems have not only led to power savings but have also enhanced the living standards and, in turn, been facilitating a convenient life for the users. North America accounts for the largest share in market.
According to a new market research report “Building Automation & Controls Market by Product Segment (Lighting control, HVAC control, Security & Access control), Application Vertical (Residential, Commercial, and Industrial), and Geography (North America, Europe, APAC, and ROW) – Trends & Global Forecasts to 2014 – 2020”, the total building automation and controls market was valued at $29.78 billion in 2013 and is expected to reach $55.48 billion by 2020, growing at a CAGR of 9.04% from 2014 to 2020.
The concept of building automation has been in existence for a long time and has witnessed a profound growth in the last five years. The stringent regulations being imposed by the governments, which have been augmenting due to the increasing cost-saving needs of the building owners, are the primary factor contributing to the growth of this market. The growing awareness of wireless technologies and the developments in terms of the integration of wired and wireless technologies will propel the market in the future.
The report presents detailed segmentation of the market, by product, by application, and geography; which covers all the major controls and technologies used in building automation.
The prime objectives of the research study were: to analyze the market trends for each of the product type, estimate the growth rates of all the various controls, and compare them with other controls.
Apart from the market segmentation, the report also covers the various protocols & standards used, both wired and wireless; Porter’s five force analysis; value chain with detailed process flow diagram; and market dynamics such as drivers, restraints, and opportunities for the overall building automation market as well as for the major control products.
The top five prominent players in the building automation & control market are Honeywell International (U.S.), Siemens (Germany), Johnson Controls (U.S.), Schneider Electric (France), and United Technologies (U.S.). Some of the other companies that hold a lion’s share in this market include Lutron (U.S.), Bosch security systems (Germany), Control4 (U.S.), Legrand (France), and Tyco (Siwtzerland).