The report on Building Automation Systems Market by types of system (lighting, heating,
ventilation, energy management devices, entertainment controls and smart gadgets and
others), application (industrial, commercial, residential), technology (cellular networks and
wireless technologies) trends analysis and forecasts up to 2023 studies the market sizes, key
trends and opportunities in the main geographies such as North America, Europe, Asia-Pacific,
Rest of the World. According to the report the Global Building Automation Systems Market is
projected to grow at a CAGR between 10.70% and 10.75% in terms of value over the period of
2017-2023. The growth in the world market is primarily driven by significant contribution by
North America (Leading region) region to this market.
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Market Insights:
The report identified that global building automation systems is driven by factors such as the
regulatory norms, the requirement for superior utility efficiency, and, increasing global demand
for energy. While the restraining factors include high Cost of implementation, technical
difficulties and lack of skilled experts. Further, the report identifies the opportunities in the
world market as favorable government initiatives and incentives.
Building automation systems (BAS) are the centralized, interconnected networks of software
and hardware which control the environment in commercial, residential and institutional
facilities. The objective of installing building automation systems is improving the resident
comfort, reducing consumption of energy and managing building operations effectively.