Building Automation and Controls Market to Reach $215.59 Bn, Globally, by 2027 at 11.10% CAGR

Says AMR - Seite 2

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The integration segment to dominate throughout the forecast period

Based on offerings, the integration segment accounted for more than three-fifths of the global building automation and controls market share in 2019, and is anticipated to retain its dominance till 2027. The growth in infrastructural development, increase in demand for energy efficient control system as well as security & access control drive the growth of the segment. Simultaneously, the services segment would showcase the fastest CAGR of 12.10% during the forecast period. The fact that rising number of residential buildings are being equipped with specialized security systems that have controlling capabilities for the electronic components proliferate the growth of the segment.

Europe, followed by North America, to rule the roost throughout the forecast period-

Based on region, Europe, followed by North America, held the major share in 2019, generating more than one-third of the global building automation and controls market. Increase in penetration of digital electronic devices and high adoption of advanced technologies have driven the growth of the market in this region. On the other hand, market across Asia-Paific is expected to showcase the fastest CAGR of 13.20% from 2020 to 2027. High economic expansion of leading Asia-Pacific countries and the subsequent construction industry growth forecast fuels the market growth in this region.

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Key market players-

• Schneider Electric
• General Electric
• Legrand
• Lutron Electronics Co.
• Control4 Corporation
• Honeywell International
• Beijer Electronics
• ABB
• Siemens AG
• Johnson Controls

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