Automated Fault Detection and Diagnostics is an automated process of identifying faults with the help of physical systems for processing, monitoring, as well as diagnosing the faults. It can convert data into actionable insights by analyzing data from systems like building automation systems to determine operational inefficiencies and energy waste.
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The increase in demand for saving time and valuable resources which expected to drives the automated fault detection and diagnostics market growth during this forecast period. Automated fault detection and diagnostics are generally integrated with other platforms or systems such as analytics platforms or building automation systems. These systems provide key performance indicator dashboards to building engineers and property managers. Furthermore, the increase in the adoption of cloud based platforms will positively influence the global automated fault detection and diagnostics market growth during this forecast timeline. Automated Fault Detection and Diagnostics solutions is creating opportunities which will increase the demand for automated fault detection and diagnostics market in near future.
Lack of awareness about automated fault detection and diagnostics is the major restraint which expected to hamper the global automated fault detection and diagnostics market growth over the forecast period. Also, high installation cost may affect the market growth.
Market Key Players
Various key players are discussed in this report such as Schneider Electric, BuildingIQ, CopperTree Analytics, KGS Buildings, LLC, ICONICS, IBM Corporation, Yardi Systems, Inc, EnerNOC, Tridium, Inc, Connexx Energy, Inc, Flywheel, United Technologies Corp., TMG – Consulting Engineers, Inc, etc.
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