Building Automation Systems (BAS) Market: Insights, Market Size, Share, Growth, Trends Analysis and Forecast to 2021
Building automation systems (BAS) are the centralized, interconnected networks of software and hardware which control the environment in commercial, residential and institutional facilities. The objective of installing building automation systems is to improve the resident comfort, reducing consumption of energy and managing building operations effectively. BAS on the basis of product type can be categorized into segments such as, security and safety, lighting, heating, ventilation, air-conditioning (HVAC) systems, energy management devices, communication and healthcare and child safety, entertainment controls and smart gadgets. On the basis of end-users the BAS market can be segmented into industrial, commercial, and residential. Furthermore, based on technology, the BAS market can be segmented into technologies and protocol, cellular networks and wireless technologies.
Major driving forces for this market are the regulatory norms, the requirement for superior utility efficiency, increasing global demand for energy and enhanced customer service. Additionally, need for implementation of the smart grid technologies, housing trends and energy management practices have played a major role in the growth of this market over the past few years. Furthermore, restraining force influencing BAS market is the expenses involved in installation of BAS. Cost benefit ratio and ambiguity regarding the structure of funding in implementation of BAS infrastructure is also acting as a restraining factor in some markets.
Recent trends demonstrate that the governments of numerous countries are implementing regulations to minimize the wastage of energy, which results in increasing usage of building automation systems. More stringent regulations are expected to be implemented in future which would drive the market for BAS.
Among the regional markets North America is currently leading in the building automation systems market. Moreover, the markets in Asia-Pacific including China, India, South Korea, and Japan are expected to boost the market size of building automation systems over the next few years. Furthermore, China is expected to lead the BAS market in the subsequent years. Currently the European region is observing a significant growth in Spain, the U.K., Germany and France owing to their introduction of new energy related regulations. The Middle-East with its rapid industrialization will observe huge growth in the recent future. Major players in the BAS market include Siemens AG, Schneider Electric Legrand ABB, Emerson Electric Co., Crestron Electronics, and Honeywell International.