DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Building Automation System Market - Global Forecast to 2022" report to their offering.
The building automation system (BAS) market was valued at USD 53.66 billion in 2016 and is expected to reach USD 99.11 billion by 2022, at a CAGR of 10.73% between 2017 and 2022. Factors such as increase in demand for energy-efficient systems, growing need for the automation of security systems in buildings, and advancement of IoT in BAS are expected to fuel the growth of the overall BAS market. However, the high cost of implementation, technical difficulties, and lack of skilled experts are the factors restricting the growth of the market.
The BAS market for security and access control systems is expected to grow at the highest rate during the forecast period. The need for increased level of security, activity monitoring, and access control has led to the rise in the demand for security and access control systems. The demand for home security solutions is also growing at a rapid pace because of various factors such as technological advancements, rise in crime rates, need for medical assistance to the senior citizens at home, and monitoring the children at home.
APAC is expected to be the fastest-growing market for BAS. The market in this region has been subsegmented into India, China, Japan, and Rest of APAC. The expected growth is attributed to the high economic growth witnessed by the major countries in this region. The rapid modernization and increase in construction activities in the APAC region has accelerated the growth of automatic centralized control of the HVAC systems installed in this region, ultimately leading to the growth of the BAS market in APAC.
- ABB Ltd.
- Crestron Electronics, Inc.
- Honeywell International Inc.
- Hubbell Inc.
- Ingersoll-Rand Plc
- Johnson Controls International Plc
- Legrand Sa
- Lutron Electronics Co., Inc.
- Robert Bosch Gmbh
- Schneider Electric Se
- Siemens Ag
- United Technologies Corp.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Building Automation System Market, By Communication Technology
8 Building Automation System Market, By Offering
9 Building Automation System Market, By Application
10 Building Automation System Market, By Region
11 Competitive Landscape
12 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/sd969h/building