Intelligent Building Automation Technologies Market Overview, Size, Share | Global Industry Outlook and Statistics, Segmentation and Forecast
The global Intelligent Building Automation Technologies (IBAT) market size is expected to reach USD 125.74 Billion in 2028 and register a revenue CAGR of 7.1% over the forecast period, according to the latest report by Emergen. Rising need for improvement of security and safety in intelligent buildings is driving intelligent building automation technologies market revenue growth. IBAT accentuates a multidisciplinary effort to integrate and optimize the building structures, systems, services, and management in order to create a cost effective and environment-friendly product for the occupants. It provides a flexible, effective, comfortable and secure environment to the owner, operator, and occupant. It offers different kind of smart technologies to ensure the user’s safety and convenience such as functionality checks and detector service for fire and life safety, utility monitoring (electricity/water/gas/oil) for preventing accidents, lighting back-up generation, and others. IBAT is experiencing high demand in international market owing to this.
The key growth trends and opportunities are offered through a thorough investigation and examination of the Intelligent Building Automation Technologies market. A detailed course of development is offered in the report along with insights into businesses connected with it, which include firms, industries, organizations, vendors, and local manufacturers.The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns.
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Major Players/Manufacturers profiled in the report are:
ABB Ltd., Azbil Corporation, Eaton Corporation, Honeywell International Inc., Hubbell, Inc., Siemens AG, Johnson Controls, Rockwell Automation, Inc., Schneider Electric, and Ingersoll Rand.
Some Key Highlights from the Report
- Hardware segment accounted for a significantly large revenue share in 2020 owing to increasing demand for various hardware equipment, such as actuators, sensors, controllers, and others. Multi-layered smart hardware solutions ensure high quality of service and cost-reduction by reducing energy consumption. It also helps in managing Heating, Ventilation and Air-Conditioning (HVAC) systems through automated control.
- Commercial segment registered a significantly large revenue share in 2020 owing to rapid adoption of IBAT solutions in large commercial sites. Demand for IBAT systems is growing rapidly among various sites, including industrial zones, shopping malls, offices, and seaports owing to its cost and energy efficiency. Moreover, deployment of intelligent building solution in such commercial areas help in improving spatial management and overall maintenance.
- Security systems segment accounted for largest revenue share in 2020 owing to continuous advancement of security system products, such as building and elevator access control, and closed-circuit televisions (CCTVs). This helps in reducing the risk of damage or loss of property.
- In June 2021, Azbil Corporation announced development of new digital solutions utilizing Artificial Intelligence (AI) and big data. The company is receiving the support of Singapore Economic Development Board (EDB) to boost growth of smart city projects in Singapore. This project is expected to drive IBAT market revenue growth in Singapore.
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Emergen Research has segmented global intelligent building automation technologies market on the basis of type, product, application, and region:
- Type Outlook (Revenue, USD Million, 2018–2028)
- Product (Revenue, USD Million, 2018–2028)
- Facility Management Systems
- Security Systems
- Life Safety Systems
- Building Energy Management Systems
- Application Outlook (Revenue, USD Million, 2018–2028)
The regional analysis states the global market is bifurcated into North America, Europe, Latin America, Asia-Pacific, and Middle East & Africa. The report also covers import export consumption, supply and demand ratio, cost, pricing analysis, gross margin, and revenue estimation of each player in each region. The report also offers a country-wise analysis of the key regions to offer a better understanding of the global market.
Regional Segmentation Covers:
- 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)
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However, the report takes into account the current COVID-19 impact on the global economy and this particular business sector. The global Intelligent Building Automation Technologies market growth has been extensively hampered by the current economic situation triggered by the COVID-19 pandemic. The pandemic has led to some devastating effects on the global economy, besides disrupting the functioning of the Intelligent Building Automation Technologies industry. It offers an exhaustive analysis of the present and future effects of the pandemic on this business sphere. Moreover, the adverse effects of the coronavirus pandemic on the global Intelligent Building Automation Technologies market, as well as its fundamental segments, have also been elucidated in this report.
Key Reasons to Buy This Report:
- The report presents a thorough examination of the Intelligent Building Automation Technologies market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
- The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
- The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
- The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.
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