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Energy Efficiency Initiatives and Converging Technologies will Establish Mass Adoption of BAS solutions
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The global building automation systems (BAS) market is poised for healthy growth in the next five years. The key driving factors are growing use of internet of things (IoT) technology, the rising popularity of LED lights for utilization of energy efficiently, increased reliance on wireless technology, and concern for overall energy consumption in buildings. Distributors and system integrators will continue to dominate the sales distribution channels for BAS globally. However, direct sales from manufacturers are increasing in importance as suppliers seek to increase direct engagement with key customers as systems become more customized and technologically sophisticated. The growth in service-based business models is also driving the need for suppliers to engage directly with customers and will lead to growth in direct sales. Among the main future trends are voice-over-technology where the users would be able to interact with the BAS directly. The very same systems will be remodeled using machine-learning algorithms. The integration of artificial intelligence (AI) into BAS is expected to be the next major technology trend in this market. Key Companies: • Siemens • Johnson Controls • Schneider Electric • Honeywell • ABB • Bosch
The study includes revenue forecasts at a global and regional level, driving and restraining forces, technology trends, application market forecasts, channel analysis, competitive analysis, and identification of growth opportunities in this dynamic market. The regional analysis breaks the market into North America, Europe, Asia-Pacific, Africa, the Middle East, and Latin America.
Key Issues Addressed
With a strong growth outlook for this market projected across the globe in line with increased connectivity and convergence, Frost & Sullivan expects the BA market to continue to attract new entrants with continuous innovation, thereby proving to be a healthy source of business growth opportunities.
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