Commercial Building Automation Market: Rising Government Support Vital for Sustained Growth
The global commercial building automation market has enjoyed rapid growth since the 2008-09 economic crisis and has established a firm foothold in developed regions. It is likely to witness stable growth in the coming years due to the firm government support to advances that reduce the impact of a construction on the environment. Systems that allow for improved energy efficiency are being incentivized or even mandated in several developed countries, which is likely to remain a key driver for the global commercial building automation market in the coming years.
The steady government support to the widespread adoption of commercial building automation solutions has generated a steady influx of investment in the industry in developed regions. This has created a productive cycle of well-funded research and development efforts generating viable building automation solutions that fit the needs of the time, resulting in further investment. This is likely to remain a crucial factor in the global commercial building automation market’s growth in the coming years.
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Accordingly, North America is the leading contributor to the global commercial building automation market, followed by Europe and Asia Pacific. The U.S. and France have emerged as the leaders within the respective regional markets in recent years and are likely to remain important to the global commercial building automation market in the coming years.
The global commercial building automation market is likely to rise steadily in the coming years thanks to the growing incorporation of the latest advances in security solutions and energy efficiency measures, according to a new report from Transparency Market Research (TMR). The report examines the global commercial building automation market by providing a thorough overview of the market’s historical growth trajectory and its figures in 2015. A solid analysis of the same is used to derive actionable insights into the market’s future growth trajectory between 2016 and 2024. The report is titled ‘Commercial Building Automation Market – Global Industry Analysis, Share, Drivers, Restraints, Growth and Forecast, 2016 – 2024.’
The report examines the hierarchy of the global commercial building automation market by various criteria to provide readers with a clear view of the competitive dynamics within the market. By product type, the report segments the commercial building automation market into building management systems, HVAC, energy management systems, security and access control systems, and lighting management systems. Of these, security and access control systems are likely to remain the leading contributors to the global commercial building automation market in the coming years due to their importance to both private and commercial consumers.
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The report also takes a close look at the competitive dynamics in the global commercial building automation market by profiling leading market players such as ABB Ltd., Cisco Systems Inc., Robert Bosch GmbH, Royal Philips Electronics N.V., United Technologies Corp., and Daintree Networks Inc.