Building Automation & Control Systems (BACS) Market Size, Revenue Analysis, Industry Outlook, Forecast by 2021-2028

Building Automation & Control Systems Market
Building Automation & Control Systems Market

The global Building Automation & Control Systems (BACS) market is expected to reach USD 151.86 Billion by 2028, according to a new report by Reports and Data. A rise in demand for smart buildings with better connectivity and efficient management systems to reduce utility costs and enhance the security and access system of the buildings such as residential building, shopping malls, etc. have created an escalating demand for Building Automation & Control Systems (BACS) across the globe.

Initiatives taken by Governments to build smart building is further pushing the growth of Building Automation & Control Systems (BACS) market. On July, 2107, Public Services and Procurement Canada (PSPC) in an announcement said that they would be deploying the Smart Buildings initiative in around 100 buildings across Canada through a phased tactic over the subsequent three years.

The announcement is the result of the success of pilot project that comprised 13 buildings in the National Capital Region of Ottawa-Gatineau. The Smart Buildings technology that was deployed resulted in energy savings of up to 17 per cent, which interprets into $1 million per year.

Requirement of high cost in the implementation of Building Automation & Control Systems (BACS) may create hindrances in the growth of the market.

The market in Asia Pacific region is projected to grow at the highest CAGR of 7.9% in the forecast period. Proliferation of IoT technology in the region along with a rise in the level of disposable income coupled with the various government initiatives and funding to build smart cities and smart buildings are the main reasons driving the growth of the market in this region.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1352

Key participants include Siemens AG, Johnson Controls International PLC, Honeywell International Inc., Schneider Electric SE, Robert Bosch GmBH, Legrand SA, United Technologies Corporation, ABB Ltd., Hubble Inc. and LutronElectronics Co. Inc.

Further key findings from the report suggest

  • Energy management systems would hold the largest market share and witness the growth rate of CAGR 7.7% during the forecast period as unnecessary wastage of energy is being translated into increased expenses on energy which would be optimally managed with the implementation of Building Automation & Control Systems (BACS). Also, governments all over the world are putting in consistent efforts to find alternative ways to generate energy as in present situation energy is being generated from natural resources that would soon be depleted.
  • Wireless technology for establishing communication in Building Automation & Control Systems (BACS) in connected buildings is estimated to experience the highest growth rate of CAGR 7.85% during the forecast period. The use of wireless communication technology enhances the efficiency of automation and control systems by enabling ease of operation and control of the system.
  • The region of North America would contribute to the largest market share growing with a CAGR 7.8% during the forecast period. A rise in renovation as compared to new construction of buildings in US is responsible for the demand of automation and control system in the buildings. With rise in pollution, the need to have clean and purified air is also driving the market growth.
  • A rise in investment in HVAC systems to reduce energy consumption in existing buildings will further boost the market growth.
  • Siemens AG, a key company in the market offers Desigo, an advanced building automation and control system, for converting traditional buildings into smart buildings.

Browse Complete Report “Building Automation & Control Systems (BACS) Market” @ https://www.reportsanddata.com/report-detail/building-automation-and-control-systems-bacs-market

For the purpose of this report, Reports and Data have segmented global Building Automation & Control Systems (BACS) Market on the basis of product, communication technology, application and region:

Product Outlook (Revenue, USD Billion; 2020-2028)

  • Electronic Security & Safety
  • Access Control
  • Energy Management System
  • Fire & Line Safety
  • Heating, Ventilation & Air-Conditioning
  • Others

Communication Technology Outlook (Revenue, USD Billion; 2020-2028)

  • Wired
  • Wireless

Application Outlook (Revenue, USD Billion; 2020-2028)

  • Government
  • Hospital
  • Commercial
  • Industrial
  • Institutional
  • Retail
  • IT/ITES
  • Residential

The latest research report offers a complete analysis of the macroeconomic and microeconomic factors accountable for the global Building Automation & Control Systems (BACS) market development. The report also concentrates on the regulatory framework that is shaping the future of the global market. New and existing pricing structures, emerging application areas, and upcoming investment opportunities have also been detailed in the report. The report also highlights the commonly used marketing and promotional strategies adopted by the key market players. Taking into account the existing market development factors, historical events, and recent market trends, the study presents a balanced opinion on the future scenario of the global Building Automation & Control Systems (BACS) market. It thus supports its opinion by discussing the key corporate strategies, such as mergers & acquisitions, takeovers, joint ventures, and strategic alliances, used by the market players to strengthen their global footprint.

Request Customization of the report @ https://www.reportsanddata.com/request-customization-form/1352

Regional analysis covers assessment of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue and gross margins, and presence of key players in the region. The report also offers insights about revenue growth, market size, market share, technological advancements, and presence of key players in each region.

Regional Bifurcation of the Building Automation & Control Systems (BACS) Market Includes:

  • North America (U.S., Canada, Mexico)
  • Europe (U.K., Italy, Germany, France, Rest of Europe)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Thank you for reading our report. For additional information on customization of the report, connect with us and we will make sure you get a report tailored to meet your needs.

Explore Reports and Data’s Prime Analysis of the global Construction and Manufacturing Industry:

Aggregates Market Revenue Share, Growth Factors, Trends, Analysis & Forecast, 2021–2027

Aerosol Refrigerant Market Size, Key Market Players, SWOT, Revenue Growth Analysis, 2021–2027

Reclaimed Lumber Market Revenue, Region & Country Share, Trends, Growth Analysis Till 2027

Continuous Emissions Monitoring Systems (CEMS) Market Size, Opportunities, Trends, Products, Revenue Analysis, For 2021–2027

Natural Refrigerants Market Size, Revenue Growth Trends, Company Strategy Analysis, 2021–2027

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

Contact Us:

John W

Head of Business Development

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: [email protected]

Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs

Read Full Press Release: https://www.reportsanddata.com/press-release/global-building-automation-and-control-systems-bacs-market

You may also like...

Leave a Reply

Your email address will not be published.