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Building Automation and Control System Market 2019
The Building Automation And Control System Market was estimated as USD 30.8 Billion in 2014 and is expected to grow at a CAGR of 9.04% over the forecast period.
The control system is applied to control and monitor the MEP system such as power monitoring, security, escalators & elevators, CCTV, water monitoring, fire alarm system and plumbing. The control system is installed majorly in residential, commercial, public buildings and institutional buildings. Therefore, the system is also referred as the structural interlink network control system.
Increasing need for quick response with accuracy has led to the enhanced adoption of automation and control system in the industry. The control system helps in reducing the operating cost with existing energy resource and decreases the emission of carbon dioxide in the environment. Furthermore, growing need for the maintenance, reliability, support, customization and demand for the energy efficiency is projected to fuel the market growth over the forecast period.
One of the major factor for aiding the market growth and implementation in building is energy efficiency. The energy efficiency helps in reducing the environmental footprints and controls rising energy cost, hence raising the value of a building. Additionally, increasing trend of the wireless connectivity which further supports in control, remote monitoring, and increased security in buildings has also benefitted the industry growth.
Increasing implementation of IoT in commercial buildings such as corporate offices, retail stores, and production factories has further decreased the energy consumption, enhancing the energy efficiency. The industry players are switching from pneumatic devices to digital direct control (DDC) owing to their compatibility with the new devices.
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Furthermore, the market is segmented by products which include security and access control, lighting system, BMS, HVAC control, Fire and life safety, and others. The end users of building automation and control system market are categorized into residential, commercial and institutional and public buildings.
Increasing trend for the energy efficient buildings has managed the premises to implement automated lighting control system such as sensors, timers, photo sensors, thus saving the excess usage of energy. Several lighting sources are employed in building for achieving the energy efficiency factor including incandescent lamps, LEDs which requires less maintenance with better lighting coverage.
Furthermore, the enhanced security systems such as CCTV, HDR system integrated with software for illegal intrusion, smoke and fire alarms are also installed for enhanced security within the premises. Rising demand for operational efficacy, ease of maintenance and energy efficiency in the commercial sector has positively impacted the industry.
The major players in the market include Johnson Controls, Honeywell, Automated Logic and Schneider Electric. The competitive business environment within the players has led to the product innovation and extension within the industry. The players are investing heavily in R&D activities enabling them to offer innovative solutions to the customers.
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