by Brianna Crandall — May 3, 2017 — Research and Markets has announced the addition of the Global Building Automation and Control Systems Market 2017-2021 report by Technavio to its market research store offerings. The report shows how incorporating the Internet of things (IoT) within such devices as HVAC, lighting, safety and security helps improve energy efficiency. The global market is expected to grow at a compound annual growth rate (CAGR) of 9.52% during the period 2017-2021.
Global Building Automation and Control Systems Market 2017-2021 was prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the revenue generated from the sales of building automation and control systems.
According to the report, most building automation and control systems are incorporating the Internet of things (IoT) within their devices, which is helping to improve building efficiency. The connection to IoT enables the collection of real-time data, which is used in creating dashboards that reflect the energy use in each area. Using this data, energy audits can be conducted to improve efficiency.
IoT in building automation systems helps in streamlining the operation of all devices, such as HVAC, lighting, safety and security, and access controls. Data collected with IoT helps in analytics and energy management systems. With the help of IoT, the installation, monitoring, and control of building automation and control systems becomes an easy and manageable task, finds the report.
According to the report, utility bills are a major contributor to the total operational costs of office buildings. Reducing energy use will help companies make significant costs savings. Due to the rise in infrastructural developments, more commercial and office buildings are expected to come up. Fire and safety control, surveillance systems, and HVAC and lighting systems are needed to be installed in these buildings to improve the infrastructure and reinforce safety and security, therefore requiring the installation of building automation and control systems to achieve operational efficiency.
Further, the report states that most of the solutions offered by industry vendors are exorbitantly priced. The prices vary depending on the building size and the customizable options that the end-user chooses. High market price is one of the factors that dissuade many end-users from installing automation and control systems, especially in residential buildings.
Some vendors charge customers on a per-square-foot basis. For a large building type, it might take end-users a long time to recover the cost of installation to automate an entire facility. A technician might be needed to control and monitor the overall functioning of the building.
Key vendors are:
- Automated Logic
- Johnson Controls International
- Schneider Electric
Other prominent vendors include: ABB, Beckhoff Automation, Bosch Sicherheitssysteme GmbH, CONTROL4, DELTA CONTROLS, Distech Controls, Dwyer, Emerson Electric, Evon Technologies, Itron, Legrand, Lutron and Siemens.
The Global Building Automation and Control Systems Market 2017-2021 report is available for purchase online, as is a summary and more details about the research.