by Brianna Crandall — November 10, 2014—Global tech-focused research firm TechNavio has announced the publication of its market research report on the Global Commercial Building Automation Market 2014-2018.
A building automation system controls and monitors different types of mechanical and electrical equipment like ventilation, lighting, power systems, fire systems and security systems. The global commercial building automation market is expected to grow at a compound annual growth rate (CAGR) of 4.33 percent by 2018.
The report focuses on the growing need for improved safety systems, which allow enterprises to avoid unwanted activities and offer a better working environment to their employees. It also highlights the increasing adoption of wireless commercial building automation systems aimed at enhancing enterprise productivity and reducing their overall operational cost.
Many commercial buildings are multistory, and wireless automation systems are more suitable for such buildings, as compared to wired systems. These systems require less maintenance and they also offer various advantages like reduced labor cost, flexible sensor placement, and lower maintenance cost over time, says Faisal Ghaus, vice president of TechNavio.
The report covers market segmentation, size and forecast through 2018; market growth drivers, such as the need for improved safety systems; market challenges, such as the lack of effective product differentiation; and market trends, such as the increased adoption of wireless commercial building automation systems. Key vendors in the market include Honeywell International Inc., Johnson Controls Inc., Schneider Electric SA and Siemens AG. Other prominent vendors are Circon Systems, Delta Controls, Invensys Building Systems and Novar Controls.
