is9792 (3)

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Building Automation System Market is Expected to
Grow at a CAGR of 8 During 2019 to 2029

• Feb 2020

Report Id REP-GB-2150 Published On
Aug-2019 Category Industrial Automation and
Equipment
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Research Methodology (1/2)

• Systematic Research Approach

In-depth secondary research is used to ascertain overall market size, top industry players, top products, industry associations, etc.
PMR formulates a detailed discussion guide to conduct expert and industry interviews
PMR develops a list of industry players (manufacturers), distributors, retailers and industry experts
PMR conducts interviews with industry experts, industry players, distributors and retailers
Data is validated by triangulation method, wherein secondary, primary and PMR analysis contribute to the final data
Data is scrutinized using MS-Excel to obtain qualitative and quantitative insights about the industry
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Building Automation System Market Analysis

• Building Automation System Market is Expected to
  Grow at a CAGR of 8 During 2019 to 2029
• 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.

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Building Automation System Market Analysis

• 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. 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.

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Building Automation System Market 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. 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.
  For more insights into the building automation
  system market, write in to the analyst at
  press_at_futuremarketinsights.com
• Source https//marketresearch139934024.wordpress.
  com/2020/02/25/global-electrical-steel-market-is-e
  xpected-to-grow-at-a-massive-cagr-of-over-8-6-duri
  ng-2019-2026/
• More from Industrial Automation Equipment
  Market Insights
• Electric Sub-meter Market
• Electrical Steel Market

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Building Automation System Market Analysis

• About Us
• Future Market Insights (FMI) is a leading market
  intelligence and consulting firm. We deliver
  syndicated research reports, custom research
  reports and consulting services which are
  personalized in nature. FMI delivers a complete
  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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