San Francisco, California, August 29, 2017: A recent market research report by TMR Research presents a thorough analysis of the global market for building automation and controls. The report is titled “Building Automation and Controls Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025.”
The key factors driving the market include the increased focus on the construction of energy efficient buildings and the rising demand for enhanced security systems managed through automation and digital controls. Furthermore, the increased awareness regarding wireless technologies among common users and the seamless integration between wired and wireless technologies made possible by technological advancements in the field of automation are also contributing to the growth opportunities of the market.
The report also attributes vast developments in the internet of things (IoT) industry as a key demand driver of the global building automation and control market. Moreover, rapid advancements in the field of IoT are helping manufacturers to move ahead towards improved systems. The overall demand for building automation and control systems in commercial buildings is expected to be high in commercial buildings owing to encouraging government initiatives.
On the other hand, however, the high implementation cost of building automation and control systems is projected to limit their adoption in certain cost-conscious regions and application segments. The lack of a standard communication protocol across all regional markets also acts as a roadblock for the development of the global building automation and control systems market. However, with a massive rise in infrastructure development activities, a number of emerging economies could provide promising growth opportunities.
From a geographical standpoint, the market for building automation and control systems in Asia Pacific is expected to establish itself as the regional market with highly promising growth opportunities in the next few years. The thriving construction industry in emerging economies in the region will provide the building automation and control systems market the required momentum. North America and Europe, with their well-established and digitally advanced infrastructures, also provide promising growth avenues for the building automation and control systems market.
The competitive landscape of the global building automation and control systems market features a highly fragmented nature with the presence of a raft of international as well as regional companies. The fierce competition in the market has compelled companies to focus on growth strategies such as mergers, acquisitions, collaborations, and technological advancement in offerings. Some of the leading companies operating in the global market for building automation and control systems are Siemens Building Technologies, Schneider Electric, United Technologies Corp., Johnson Controls, and Honeywell International Inc.
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