P e r s i s t e n c e M a r k e t R e s e a r c h overshadow the market within the forecast period. The commercial segment will contribute notably to the global building automation systems market. Towards the end of the projected period, the commercial segment will touch a market worth of more than US $ 63 Bn and will record a CAGR of 10.9 %. Apart from this the government and residential segments will also project promising growth trends by 2026 end. North America will lure maximum investors, as the building automation systems market in this region will exceed a whopping value of US $ 55 Bn by the close of 2026.
The global market for building automation systems is crowded with several players. The Rheem Manufacturing Company, United Technologies, General Electric, Lennox International, Philips Lighting Holding B. V., Ingersoll-Rand Plc. Honeywell International Inc., Johnson Controls are some of the major players contributing to the growth of the market. They are establishing smart IT backed platforms to provide advanced building automation systems to their customers.
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Global Building Automation Systems Market 2016-2026