Automation systems form a critical part of energy management. Almost 23% of electricity has been utilized by commercial buildings globally. At present, the market for commercial building automation systems is undergoing revolutionary change regarding utility and technology.
Recently, the building system has been estimated to accommodate any data source or device within the building. The automation systems generate large amount of data, analysis of performance supports real competitive and economic value.
A new report from Pike Research states that the market for commercial building automation systems will have two-fold increase over the next ten years, increasing from $72.5 B in 2011 to $146.4 B by 2021.
The rapid growth depends on two important factors that are responsible for transforming the building industry. The aggressive energy efficiency goals within the significantly growing building stock in developing Asia Pacific nations, is one the factors. Another factor is the building automation controls and field devices that exchange information through a range of protocols including BACnet and LonWorks. These protocols are being equipped with Internet Protocol capability to incorporate the infrastructure equipment and protocols similar to IT network. The company’s repository including software, IT, property management, and traditional BASs are becoming scarce.
Pike Research’s report for Commercial Building Automation Systems examines and determines the worldwide market for commercial building automation and management systems such as HVAC controls, security and access, building management systems, fire and life safety, and lighting controls. The 2021 Market forecasts have analyzed five key market segments and seven global regions.
Source: https://guidehouseinsights.com/