Building Automation System Market is Expected to Register Highest CAGR of ~8% During the Forecast Period 2019 - 2029

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Building Automation Systems Market

• February 2020

Report Id REP-GB-2150 Published On
August-2019 Category Industrial Automation and
Equipment
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Building Automation Systems Market Analysis

• VALLEY COTTAGE, New York, Aug. 14, 2019
  /PRNewswire/ -- The global building automation
  system market grew 7 in 2018 to total US 35
  Bn, registering an upward spiral from US 33 Bn
  in 2017, according to the new research study by
  Future Market Insights (FMI). Schneider Electric
  SE, ABB, Siemens AG, Johnson Controls Inc., and
  Honeywell International Inc. remain the top 5
  players in the building automation market,
  commanding nearly 40 of the global market share.
• The FMI analyst is of the opinion that growing
  investments in smart buildings is one of the key
  shapers estimate to mould the growth of building
  automation system market in 2019 and beyond.
• Despite of having a robust sphere of influence,
  leading players in the building automation system
  market will continue to face competition threats
  from new vendors entering the scenario with newer
  promises.
• According to the analyst, the likes of Apple and
  Google NEST are entering into the building
  automation space and upending the market
  structure, which, in turn is hard-pressing the
  established players to come up with new strategy
  models. These new vendors are focusing on
  residential spaces and addressing special
  requirements coming from them, which, in turn, is
  enabling these companies to tap into niche
  corners and reap sizeable profits throughout.
  These particulars signal that manufacturers don't
  have to stick to their conventional ideologies to
  sustain growth, they can go beyond core
  competencies and catch up with some new market
  trends instead, finds FMI.
• In 2018, end users increasingly adopted building
  automation services over hardware and software,
  and 2019 is also expected to see a similar
  pattern of choice.

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Building Automation Systems Market Analysis

• This inclination is primarily conditioned by
  attractive packages offered by the service
  providers along with satisfactory pre-sales and
  post-sales customer assistance, starting from
  installation to maintenance. However, a
  significant portion of end users will continue to
  lean toward building automation software, with
  global value estimated to reach US 10.5 Bn in
  2019.
• Market Players to Eye Massive Opportunities in
  East Asia
• FMI forecasts that adoption of building
  automation systems in commercial applications
  will grow by 8 YOY in 2019, representing 64
  of the total revenue in that year. Commercial
  structures such as offices, schools, hospitals,
  and others, stay at the forefront of demand for a
  centralized control system that offers
  hassle-free operations. This, in turn, is a key
  factor pushing the adoption of building
  automation systems in the commercial spaces,
  states the FMI analyst.
• Europe (32) and North America (30) retained
  their lead as the largest markets for building
  automation systems in 2018, and this status quo
  is remain the same in 2019 and beyond. When it
  comes to technological revolutions, developed
  markets stand firm as trailblazers and often lay
  down new paths for developing markets to follow
  suit. In similar lines, North America and Europe
  will continue to be the most attractive regions
  for the building automation system market players
  to make investments in, finds the FMI analysis.
• However, East Asia is likely to emerge as the new
  gold mine of opportunities, with growth primarily
  driven by a drastic make-over of the regional AEC
  (architecture, engineering, and construction)
  industry.

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Building Automation Systems Market Analysis

• With 'smart buildings' emerging as the point of
  convergence across developing markets, the East
  Asia building automation system market is set to
  exhibit growth by 9 YOY in 2019, says the FMI
  analyst.
• This study outlines the prominent opportunities
  in the building automation system market and
  finds that the market would exhibit growth at a
  value CAGR of 8 during the assessment period.
• Press-Release Source - https//www.prnewswire.com/
  news-releases/building-automation-system-market-is
  -expected-to-grow-at-a-cagr-of-8-during-the-foreca
  st-period-of-2019-to-2029--future-market-insights-
  300901476.html
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Building Automation Systems Market Analysis

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  syndicated research reports, custom research
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  packaged solution, which combines current market
  intelligence, statistical anecdotes, technology
  inputs, valuable growth insights and an aerial
  view of the competitive framework and future
  market trends.
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