Press release
Commercial Building Automation Market: Future Forecast Assessed on the basis of how the Market is Predicted to Grow
As stated in a research report released by Transparency Market Research, the global commercial building automation market is likely to reach US$77.63 bn by the end of 2016. In terms of revenue, this market is expected to reach US$108.49 bn by 2024, after expanding at a CAGR of 4.3% from 2016 to 2024. The degree of competition in the market is expected to intensify over the coming years owing to the aggressive expansion strategies adopted by leading players, as well as the several opportunities available for new entrants in terms of fast growth.
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“The primary factor that is allowing for a great scope of expansion for players in the global commercial building automation market is the booming construction industry itself. Improvements in the global economy are creating an increase in the demand for construction projects in industrial and the residential sectors. This is more pronounced in the emerging economies of the MEA region than others. These regions are where the global commercial building automation market will find a very high level of interest from clients,” states a TMR analyst.
The growth of the construction industry is currently also a leading cause in the demand for highly efficient projects that will consume lesser volumes of materials as well as a lower power requirement. Additionally, the growing concern over depleting fuel stockpiles and increasing pollution have pressured several governments to adopt increasingly strict policies regarding efficiency of resource usage. This will directly favor the global commercial building automation market in the years to come.
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The overall cost of installing, operating and maintaining commercial building automation systems is quite high. This already deters new entrants from the global commercial building automation market, but compounding the issue is the slow rate of ROI that end users can achieve with the adoption of these systems. This is a cause for concern for the smaller players in the global commercial building automation market as they will be getting a much lower interest from clients than what the more prominent players may get.
“Deep Learning is one of the novel concepts expected to revolutionize the global commercial building automation market over the coming years. It involves the gradual development of an IoT sensor system that can generate groundbreaking solutions in terms of improving the automation process. It is concepts like this that are expected to bring a wider scope of opportunities for players in the global commercial building automation market over the coming years,” added the analyst.
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Key segments of the Global Commercial Building Automation Market
Global Commercial Building Automation Market: By Product Type
Power Supply
UPS
Battery Modules
Others
Interfacing Components
Router
Couplers
Others
Room Automation
I/O Module
Actuators & Actuators Module
Controllers
Others
HVAC Systems
Security and Surveillance
Illumination and Light Sensors
Others
Global Commercial Building Automation Market: By Material Type
Lighting Control and Regulation
Interfacing and Inter-working with other Building Systems
Blind and Shutter Control
Temperature Control and Regulation
Energy and Load Management
Security and Fault Monitoring
Visualization and Remote Control
Monitoring, Reporting, Display
Others
Global Commercial Building Automation Market: By End Use Type
Offices
Retail
Hospitality Sector
Healthcare
Others
Global Commercial Building Automation Market: By Geography
North America
Europe
Asia Pacific
Rest of the World (RoW)
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Anchor Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.
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Albany, NY 12207
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