Jan 21 2015
Research and Markets has announced the addition of the "Building Automation & Controls Market by Product Segment, Application Vertical , and Geography - Trends & Global Forecasts 2014-2020" report to their offering.
The total building automation and controls market is expected to reach $55.48 billion by 2020 at a CAGR of 9.04% from 2014 to 2020. The market in 2013 was valued at $29.78 billion.
Several initiatives and strict regulations have been implemented by the governments, which are currently on the rise as a result of the increasing cost-saving urge prevalent among the building owners. Thus, the demand for building automation has been witnessing a sharp growth. Though the concept of building automation has been in existence for a long time, it has witnessed a profound growth in the last five years. The huge demand for security and access systems, convergence of IOT and building automation, growing awareness of wireless technologies, and the developments in terms of the integration of wired and wireless technologies will propel the market in the future.
The report deals with the global building automation and controls market; it includes products segments such as lighting control, security & access control, and HVAC control. The controls mentioned above are further segmented by type and product. For example, the security & access controls market is divided into further markets such as video surveillance and biometric systems. The application part of the report has been classified into 3 categories, namely residential, commercial, and institutional.
This report analyzes the key findings by considering the market dynamics and various industry trends 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 the market dynamics.
Source: http://www.researchandmarkets.com/