Latest market study on “Building Automation Market – Global Analysis and Forecast”, the Building Automation Market is projected to witness a significant growth attributed various advantages delivered by building automation system such as increased comfort, maintenance, customization, support, safety, security, reliability, and high energy efficiency. Furthermore, the evolving innovations in the wireless communication technologies as well as advances in Internet of Things are propelling the market growth of global building automation system. However, high implementation cost, lack of interoperability and absence of skilled professionals are some of the restraints affecting the growth of the industry.

The global building automation market has be categorized into communication technology, offerings and regions. Based on the communication technology the market has been segmented into wired technologies, and wireless technologies. On the basis of offering, the market has been bifurcated into facility control systems, building energy management software, security and access control systems, BAS services among others. The security and access control systems segment is anticipated to lead the market during the forecast period owing to increasing awareness among people, rising incidences of theft and burglars, and increasing adoption of access management in the buildings. These systems are implemented to provide protection to the assets, and information and for monitoring activities.

Currently, North America dominates the market for building automation however, Asia Pacific is anticipated to grow at the highest CAGR during the forecast period. The rapid industrialization coupled with government support is anticipated to boost the growth in the Asia Pacific. Further, the growth in North America is attributed to the increasing energy costs, rising demand for green buildings, as well as several initiatives taken by the government to promote building automation

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Some of the major players operating in the global Building Automation market include Siemens AG, Honeywell International Inc., Schneider Electric Corp., Johnson Controls International PLC, United Technologies Corp., Schneider Electric Corp., Hubbell Inc., Legrand SA., Building, ABB Ltd., Robert Bosch GmbH, Ingresoll -Rand PLC., Lutron Electronics Co., Inc., and Crestron Electronics, Inc.