by Brianna Crandall — December 15, 2014—According to a new market research report from global market research and consulting company MarketsandMarkets, the total building automation and controls market was valued at $29.78 billion in 2013 and is expected to reach $55.48 billion by 2020, growing at a compound annual growth rate (CAGR) of 9.04% from 2014 to 2020.
Drivers
The concept of building automation has been in existence for a long time and has witnessed a profound growth in the last five years, according to the report. The stringent regulations being imposed by governments, which have been augmenting due to the increasing cost-saving needs of building owners, are seen as the primary factor contributing to the growth of this market. The growing awareness of wireless technologies and the developments in terms of the integration of wired and wireless technologies are expected to propel the market in the future.
Report features
The report presents detailed segmentation of the market by product, application, and geography, and covers all the major controls and technologies used in building automation. The prime objectives of the research study were: to analyze the market trends for each of the product types, estimate the growth rates of all the various controls, and compare them with other controls.
Apart from the market segmentation, the report also covers the various protocols and standards used, both wired and wireless; Porter’s five force analysis; value chain with detailed process flow diagram; and market dynamics such as drivers, restraints, and opportunities for the overall building automation market as well as for the major control products.
Key players
The top five prominent players in the building automation and control market are currently Honeywell International (USA), Siemens (Germany), Johnson Controls (USA), Schneider Electric (France), and United Technologies (USA). Some of the other companies that hold a lion’s share in this market include Lutron (USA), Bosch security systems (Germany), Control4 (USA), Legrand (France), and Tyco (Siwtzerland).
The 205-page Building Automation & Controls Market by Product Segment (Lighting control, HVAC control, Security & Access control), Application Vertical (Residential, Commercial, and Industrial), and Geography (North America, Europe, APAC, and ROW) – Trends & Global Forecasts to 2014 – 2020 , with 97 market data tables and 68 figures, is available for purchase from the MarketsandMarkets Web site.
