According to a report, "Intelligent Building Automation Technologies (IBAT) Market Analysis Report By Component, By Product (Facility Management Systems, Security Systems), By Application, And Segment Forecasts, 2019 - 2025", published by Grand View Research, Inc.,
The global intelligent building automation technologies market size is expected to reach USD 105.2 billion by 2025, registering a CAGR of 7.0% from over the forecast period, according to a new study conducted by Grand View Research, Inc.
Growing awareness regarding workplace safety and security, a shift toward green and smart buildings, and improving comfort level of the occupants are major factors that are expected to fuel demand for IBAT. Increasing demand for automated HVAC and safety in the healthcare and hospitality industries is also boosting market growth. Intelligent building automation technologies assist various industries in the optimization of energy usage and reducing its operating expenditure.
Rising establishment of smart infrastructure across the globe is expected to contribute significantly to market growth. Various factors such as increasing green building initiatives, development of cloud-based IoT platforms, and growing environmental concerns are expected to boost market growth over the forecast period. Surging energy prices and urgent need to manage them also serve as key driving factors.
Prominent players are emphasizing on new product launches in order to combat increasing competition. They are also focusing on acquiring a larger market share through inorganic growth strategies like mergers and acquisitions. For instance, Honeywell International Inc. completed the acquisition of Transnorm, a warehouse automation solutions provider, in September 2018. This enabled the former to expand its customer base across Western Europe.
“Read Report Summary, Toc, Market Segmentation, Research Methodology, Request a Free Sample“ Click the link below:
www.grandviewresearch.com/industry-analysis/intelligent-building-automation-technologies-market
Further key findings from the study suggest:
-
By component, the service segment is expected to exhibit the highest CAGR from 2019 to 2025. Service providers for smart buildings assist in applying intelligent automation technologies for efficient operation and maintenance of buildings in a cost-effective manner
-
Based on product, the facility management systems segment dominated the market owing to rising need to achieve economies of scale in manufacturing facilities
-
On the basis of application, the commercial segment is expected to continue its dominance through 2025. This growth can be attributed to increasing adoption of IBAT by hotels, airports, and retail and IT companies
-
Asia Pacific is expected to register the highest CAGR of 9.4% from 2019 to 2025. Growth can be attributed to increasing investments in infrastructure in order to support smart city initiatives across the region
-
Key players in the intelligent building automation technologies market include ABB; Azbil Corporation; Eaton; General Electric; Ingersoll Rand plc.; Siemens Building Technologies Inc.; Schneider Electric; Honeywell International Inc.; Hubbell Inc.; Johnson Control; Rockwell Automation Inc.; and United Technologies Corporation.
Have Any Query? Ask Our Experts (Inquiry Before Buying): www.grandviewresearch.com/inquiry/558/ibb
Curious to know more? Request a Free Sample Click the link below:
www.grandviewresearch.com/industry-analysis/intelligent-building-automation-technologies-market/request/rs1
Grand View Research has segmented the intelligent building automation technologies market on the basis of component, product, application, and region:
Intelligent Building Automation Technologies Component Outlook (Revenue, USD Billion, 2014 - 2025)
-
Hardware
-
Software
-
Service
Intelligent Building Automation Technologies Product Outlook (Revenue, USD Billion, 2014 - 2025)
-
Security Systems
-
Life Safety Systems
-
Facility Management Systems
-
Building Energy Management Software
Intelligent Building Automation Technologies Application Outlook (Revenue, USD Billion, 2014 - 2025)
-
Residential
-
Commercial
-
Industrial
Intelligent Building Automation Technologies Regional Outlook (Revenue, USD Billion, 2014 - 2025)
-
North America
-
U.S.
-
Canada
-
-
Europe
-
U.K.
-
France
-
Germany
-
-
Asia Pacific
-
Australia
-
China
-
India
-
Japan
-
Malaysia
-
Singapore
-
-
Latin America
-
Brazil
-
Mexico
-
-
MEA
-
Saudi Arabia
-
UAE
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.
If you need specific information, which is not currently within the article, we will provide it to you as a part of customization
Request for Customization: www.grandviewresearch.com/request-for-customization/558/rfc
Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 26 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 426 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist - U.S.A.
Email:Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/intelligent-building-automation-technologies-market
