LONDON–(BUSINESS WIRE)–Nov 11, 2020–
The new building automation and control systems market research report from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Building Automation and Control Systems Market 2020-2024 (Graphic: Business Wire)
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“One of the primary growth drivers for this market is the growing demand for energy efficiency”, says a senior analyst for the Industrials industry at Technavio. As the markets recover Technavio expects the building automation and control systems market size to grow by USD 27.83 billion during the period 2020-2024.
Building Automation and Control Systems MarketSegment Highlights for 2020
- The building automation and control systems market is expected to post a year-over-year growth rate of 8.45%.
- The commercial buildings end-user segment led the global building automation and control systems market in 2019.
- The growth of the market in the commercial buildings end-user segment will be significant during the forecast period.
Regional Analysis
- 35% of the growth will originate from the APAC region.
- The APAC region will offer maximum growth opportunities for vendors during the forecast period.
- China is the key market for building automation and control systems in APAC.
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Notes:
- The building automation and control systems market size is expected to accelerate at a CAGR of over 9% during the forecast period.
- The building automation and control systems market is segmented by End-user (Commercial buildings, Residential buildings, Government buildings, and Other buildings) and Geography (Europe, North America, APAC, MEA, and South America).
- The market is fragmented due to the presence of many/few established vendors holding significant market share.
- The research report offers information on several market vendors, including ABB Ltd., Emerson Electric Co., Honeywell International Inc., Johnson Controls International Plc, Legrand SA, Raytheon Technologies Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, and Siemens AG.
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About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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KEYWORD:
INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY BUILDING SYSTEMS
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 11/11/2020 01:10 AM/DISC: 11/11/2020 01:10 AM
Copyright Business Wire 2020.
