The e-magazine for KNX home & building control

Technavio Forecasts Commercial Building Automation Systems Market to Grow by US$18.97 Billion from 2021 to 2026

Demand for Comfort and Foolproof Security Systems to Drive Growth

The commercial building automation systems market is expected to be driven by factors such as demand for comfort and foolproof security systems. The market size is estimated to grow by USD 18.97 billion, at a CAGR of 8.98%, from 2021 to 2026.

Market Dynamics

The demand for comfort and foolproof security systems is one of the key factors driving the global commercial building automation systems market growth. The demand for advanced HVAC systems and security devices such as CCTV cameras has increased. For instance, in July 2021, Hikvision enhanced its offering of professional video surveillance cameras with ColorVu imaging technology that provides color images in virtually any lighting conditions, including zero-light environments. These factors will increase the implementation of building automation systems in the commercial sector during the forecast period.

Challenges in integrating building automation software coupled with interoperability issues will hinder the global commercial building automation systems market growth. As the building size increases, the number of sub-systems and the related complexity of the overall system also rise. The automation systems integrate multiple pieces of equipment and appliances, which makes the interface more complex. In addition, integrating existing legacy systems with new and complicated software may lead to various integration issues. Moreover, ensuring interoperability while switching from one network to another is a challenge. Such factors are expected to hinder the market from growing during the forecast period, despite having huge potential.

Company Profiles

Some of the companies covered in this report are ABB Ltd., Beckhoff Automation GmbH and Co. KG, Carrier Global Corp., Cisco Systems Inc., Crestron Electronics Inc., Emerson Electric Co., Endress Hauser Group Services AG, General Electric Co., Honeywell International Inc., Hubbell Inc., Johnson Controls International Plc, Legrand North America LLC, Lutron Electronics Co. Inc., Mitsubishi Electric Corp., OMRON Corporation, Phoenix Contact GmbH and Co. KG, Robert Bosch GmbH, Schneider Electric SE, Siemens AG, Trane Technologies Plc, and Yokogawa Electric Corp., etc.

Competitive Analysis

The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Market Segmentation

  • By application, the market is classified into wired and wireless. The wired segment will contribute the largest share of the market. The rapid adoption of technological advances in controlled wired devices will drive the growth of the market in focus through this segment.
  • By Geography, the market is classified as APAC, Europe, North America, South America, and Middle East and Africa. APAC will have the largest share of the market. The rapid growth in the industrial sector, which has led to an increase in the demand for commercial office spaces, will drive the commercial building automation systems market growth in APAC during the forecast period.

www.technavio.com

Share on facebook
Share
Share on twitter
Tweet
Share on linkedin
Share

SPONSORS

Products of the month

KNX Switch Actuators Upgrade


KNX Switch Actuators Upgrade
The new ABB ETS App Version 1.1 has a pack of new features empowering the switch actuator range further ...

thePixa Optical Presence Detector


thePixa Optical Presence Detector
Theben's thePixa KNX optical presence detector detects how many people are in a room and where exactly they are ...

Conventional becomes smart


Conventional becomes smart
No dirt, no noise, no bus line – the classic electrical installation is sufficient: the new JUNG KNX RF push-buttons ...

AVE’s KNX room controller


AVE’s KNX room controller
Ideal for home and hotel, AVE Room Controller is a high-design solution with OLED display and touch controls, which ...