Global intelligent building automation technologies market is predicted to amass a valuation of over $118.7 million by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
As per the market report, the commercial intelligent building automation technologies segment led the global market in 2017, in terms of revenue. The same year, in terms of geographical penetration, North America dominated the market revenue and is anticipated to maintain this momentum over the forecast period.
Some key findings highlighted in the report include:
- The global intelligent building automation technologies market is primarily driven by the rising demand for infrastructure with less CO2 emissions, which further prompts governments to provide more benefits as the trend of smart-cities continues to rise.
- Intelligent building automation technologies have gained significance in the real estate business since they enhance safety and security.
- Intelligent building automation technologies substantially reduce operational costs through the incorporation of IoT platforms.
- The surging adoption of intelligent building automation technologies can be accredited to the imposition of stringent energy consumption mandates by governments across the world.
- Factors like rising concerns pertaining to the environment, decreasing fossil fuel resources, and growing need to reduce energy consumption will accelerate the adoption of intelligent building automation technologies.
- Favorable government regulations, rising awareness, and increasing investments in technological advancements and R&D initiatives will support market growth.
In terms of regional growth, the North America market procured maximum revenue in the intelligent building automation technologies market in 2017 and is anticipated to lead the global market during the forecast period. Surging environmental concerns, along with the rising awareness regarding intelligent building automation technologies is slated to boost market growth in the region. On account of lucrative advantages of the product, governments within the region are teaming up with architects and engineers to encourage the adoption of these technologies. Furthermore, commercial buildings are increasingly adopting these technologies on account of strict government regulations, and the need to decrease operation costs, cites the report.
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The report further provides an in-depth analysis of the intelligent building automation technologies market drivers, restraints, and opportunities over the estimated timeline. A detailed analysis of the report in terms of type, regional spectrum, end-user landscape, and competitive ranking analysis has also been included in the report. In addition, company profiles of major market contenders have been elaborated in the report highlighted under the heads of business overview, product benchmarking, financials, and recent developments of market partakers.
The competitive landscape of the global intelligent building automation technologies market comprises of key market players such as Rockwell Automation, Siemens Building Technologies Inc., Johnson Controls Inc, General Electric, ABB Ltd., Eaton Corporation, Ingersoll Rand Inc., Honeywell International, Schneider Electric, and Delta Controls. The key growth strategies observed in this business space include launching innovative technologies and teaming up with other market leaders to design new products and meet the rising consumer needs and requirements, thereby augmenting the global intelligent building automation technologies market growth during the projected timeline.