Double-Digit Growth Anticipated for Global Building-Automation Market
The global building-automation and controls market is estimated to grow at a double-digit compound annual growth rate from 2013 through 2018 and to reach a total value of close to $50 billion by the end of 2018.
That is the conclusion of a report by Fast Research that is available through Reportlinker.
Currently, HVAC controls contribute to more than 33% of the global building automation and controls market. However, the security & access controls are estimated to contribute the highest by the end of 2018.
The report, based on the extensive research study of the global building automation and controls market, is aimed at identifying the entire market of the building automation and controls, specifically lighting, security and access, HVAC, entertainment, outdoor controls, elevator controls, and building-management systems. The report covers the overall market and sub-segment markets through extensively detailed classifications.
The stringent regulations being imposed by governments, augmented by the increasing need to save operational costs by building owners, has enhanced the demand for building automation and controls.
Although the concept of building automation has been in existence for a long time and has witnessed profound growth in the last five years there is huge demand for HVAC, security and access controls. Growing awareness of wireless technologies and the developments towards the integration of wired and wireless will propel the market in the future.
Demand for energy-efficient buildings, more convenient control devices, and enhanced security via building-automation and control remain the major drivers for the building-automation controls market.
According to the report, growth in government incentives, assistance of powerline communication and global sporting events such as World Cup Soccer in 2014 and the Olympics in 2016 offer excellent opportunities to the market growth. In addition, wireless technology is further boosting the market for already existing buildings.
This report analyzes the findings by considering the market dynamics that shape up this market. These dynamics are categorized under three headers; drivers, restraints, and opportunities. The market estimation and forecasting have been done using market dynamics.
The report provides detailed profiles of major companies currently active in the building automation and controls market. All the other details of the key players in the entire value chain, such as key product launches, technologies, industry partners, financials, and growth strategies, are discussed in the extensive company profiles section. In addition to the company profiles, a competitive landscape of the market share rankings of the current key players.
The controls are further segmented by subtypes. For example, the security and access controls market is divided into further markets such as biometrics, intrusion detection, video management systems, and touch screens and keypads. The application part of the report has been broadly classified into residential, commercial, institutional, industrial and others. These areas of applications are further divided by the different building types. For instance, the commercial application is divided into office, lodging, healthcare, retail and warehouses (non-manufacturing).
The building automation and controls market is also mapped against geography. The market by geography is segmented by various economic regions such as North America, South America, Central America, Europe, Asia, Africa, the Middle East, and Oceania. The regional markets has been further broken down by country, which gives a detailed insight of regional profit pockets and potential emerging markets.
Fast Market Research is an online aggregator and distributor of market research and business information. To view all of the company’s construction research reports, click here.