Building Automation System Market worth $ 121.5 billion by 2024
Building Automation System Market Size, Growth, Trend and Forecast to 2024 | MarketsandMarkets
USA, 22 March 2019
-- [214 Pages] Building Automation System Market Research Report, identifies new revenue opportunity in building automation system industry. The report aims at estimating the market size and future growth of the building automation system based on offering, process, application, vertical, and region.
According to the new research report "Building Automation System Market by Communication Technology, Offering (Facilities Management Systems, Security & Access Control Systems, Fire Protection Systems, and Building Energy Management Software), Application, Region - Global Forecast to 2024", the BAS market is expected to grow from USD 75.0 billion in 2019 to USD 121.5 billion by 2024 growing at a CAGR of 10.12%. The growth of this market is mainly driven by several factors, such as a high focus on designing and establishing energy-efficient and eco-friendly buildings and several benefits of BAS, development of wireless protocols and wireless sensor network technology for BAS, and rapid infrastructure growth in developing nations.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=408
Security and access control systems to hold largest share of BAS market by 2024
Security and access control systems accounted for the largest share of the BAS market in 2018, and a similar trend is likely to continue in the near future. The demand for home security solutions is growing at a rapid pace because of various factors, such as technological advancements, the rise in crime rates, the increased need for medical assistance to senior citizens at home and monitoring the children at home. Security and access control systems have become an integral part of the safety and security of buildings and their occupants. These systems have revolutionized the building security and removed human intervention. These are installed in buildings to increase the security level, monitor activities, and keep a record of people entering and exiting the building. Worldwide governments are also investing heavily to develop reliable and robust security systems for safeguarding their citizens from terrorist attacks.
BAS market for industrial application to grow at highest CAGR from 2019 to 2024
The industrial application includes manufacturing facilities, distribution facilities, warehouses, and other infrastructure buildings of automotive, chemicals, metals, engineering, mining, pharmaceuticals, oil & gas, and other industries. The segment is expected to adopt smart building solutions to achieve energy and cost savings, higher productivity, enhanced identity and access management, and optimized surveillance. BAS has a wide scope for development in emerging economies such as India, China, and Brazil, having diverse manufacturing sectors growing at a high rate. In spite of having the largest manufacturing base, these nations lack buildings equipped with energy-efficient infrastructure. This creates a tremendous market opportunity for all companies offering building automation systems to increase their viability in these nations on a large scale.
Increasing construction industry in developing countries such as China and India will boost the demand for BAS in APAC during the forecast period
The BAS market in APAC is expected to grow at the highest CAGR during the forecast period. The rapid growth of the construction industry in developing countries, such as China and India, and government initiatives toward energy conservation have contributed to the growth of the BAS market in APAC. Countries such as China and India have aggressively started developing smart cities. BAS is acting as a key enabler in achieving these objectives by the respective countries.
Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=408
Honeywell International (US), Siemens AG (Germany), Johnson Controls International (Ireland), Schneider Electric (France), United Technologies Corp. (US), Robert Bosch (Germany), Legrand (France), Hubbell (US), ABB (Switzerland), and Ingersoll-Rand (Ireland) are among a few major players in the BAS market.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
# # #
Submitted by stevestark002 on Friday, 22 March 2019 at 3:34 PM
Category: Consumer Technology
Brought to you by Scoopasia [http://scoopasia.com]