The global Building Automation & Control Systems (BACS) market is expected to reach USD 129.41 billion by 2026, according to a new report by Reports and Data. A rise in demand for smart buildings with better connectivity and efficient management systems to reduce utility costs and enhance the security and access system of the buildings such as residential building, shopping malls, etc. have created an escalating demand for Building Automation & Control Systems (BACS) across the globe.
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Leading Players Profiled in the Report Include:
Siemens AG, Johnson Controls International PLC, Honeywell International Inc., Schneider Electric SE, Robert Bosch GmBH, Legrand SA, United Technologies Corporation, ABB Ltd., Hubble Inc. and LutronElectronics Co. Inc.
Initiatives taken by Governments to build smart building is further pushing the growth of Building Automation & Control Systems (BACS) market. On July, 2107, Public Services and Procurement Canada (PSPC) in an announcement said that they would be deploying the Smart Buildings initiative in around 100 buildings across Canada through a phased tactic over the subsequent three years.
The announcement is the result of the success of pilot project that comprised 13 buildings in the National Capital Region of Ottawa-Gatineau. The Smart Buildings technology that was deployed resulted in energy savings of up to 17 per cent, which interprets into $1 million per year.
Requirement of high cost in the implementation of Building Automation & Control Systems (BACS) may create hindrances in the growth of the market.
The market in Asia Pacific region is projected to grow at the highest CAGR of 7.9% in the forecast period. Proliferation of IoT technology in the region along with a rise in the level of disposable income coupled with the various government initiatives and funding to build smart cities and smart buildings are the main reasons driving the growth of the market in this region.
Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented global Building Automation & Control Systems (BACS) Market on the basis of product, communication technology, application and region:
Product Outlook (Revenue, USD Billion; 2018-2026)
Communication Technology Outlook (Revenue, USD Billion; 2018-2026)
Application Outlook (Revenue, USD Billion; 2018-2026)
Regional Outlook (Revenue, USD Billion; 2018-2026)
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2016-2026
Chapter 3. Indicative Metrics
3.1. Macro Indicators
3.1.1. Global deployment of Building Automation & Control Systems (BACS)
3.1.2. Global Building Automation & Control Systems (BACS) by product type
3.1.3. Region-wise deployment of Building Automation & Control Systems (BACS) by application
Chapter 4. Building Automation & Control Systems (BACS) Market Segmentation & Impact
Continued…
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