Rising energy costs and stringent regulatory policies to drive US building automation & control systems market through 2020
According to a recently released TechSci Research report, “United States Building Automation &Control Systems Market Forecast & Opportunities, 2020”, the US market for building automation products is forecast to grow at over 9% through 2020. Favorable regulatory policies and rising energy costs are the major growth drivers for BAS products in the US. In addition, rising awareness regarding greenhouse gas emissions and their negative impact on environment, is expected to generate positive market sentiments with regard to BAS products and services across the country. Commercial and industrial facilities have emerged as the leading end users of BAS products and services in the US.
While HVAC controls segment captured the majority share in US building automation & control systems market in 2014, security & access controls is set to emerge as the fastest growing segment over the forecast period, due to growing security concerns. With rise in acts of vandalism and unauthorized access, demand for security & access controls is expected to escalate over the next five years. Meanwhile, the market for lighting controls is expected to witness growth at a lower rate on account of growing use of LED lights.
“Honeywell International, Johnson Controls, and Schneider Electric, are the leading BAS providers in US building automation & control systems market. The market is expected to witness impressive growth over the next five years, on account of growing federal spending on modernizing its building infrastructure”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“US Building Automation &Control Systems Market Forecast & Opportunities, 2020” has evaluated the future growth potential of building automation & control systems market in the US, and provides statistics and information on market structure and consumer behavior trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in US building automation & control systems industry.