Global Building Automation Software Market 2017-2021
About Building Automation Software
Building automation software enables heating, ventilation, air conditioning (HVAC), lighting, electricity, security and protection systems to communicate on a single platform and deliver the information to the control system, allowing buildings to operate smartly while enhancing the occupants’ overall comfort, safety, and productivity level.
Technavio’s analysts forecast the global building automation software market to grow at a CAGR of 11.10% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global building automation software market for 2017-2021. To calculate the market size, the report considers revenue, Y-o-Y growth, CAGR, retrofit, replacement, and services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Building Automation Software Market 2017-2021
Technavio recognizes the following companies as the key players in the global building automation software market: Automated Logic, Honeywell International, Johnson Controls, Schneider Electric, and Siemens.
Other Prominent Vendors in the market are: Advantech, BuildingIQ, Cisco, Control4, ICONICS, Mass Electronics (Innotech), Trane, FIBARO, and EUROICC.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is integration of IoT in building automation system. Traditional buildings are controlled manually, which entails high lead time and operational cost. Similarly, the existing intra-networking between devices suffers from huge disadvantages of limited connectivity due to complex wired or slow wireless technology.”
According to the report, one driver in the market is growing need of building automation for enhancing business outcomes. Building automation deployed in industrial, residential, and commercial buildings can substantially improve the outcomes of business operations in terms of efficiency, productivity, and cost. In the light of these benefits, building automation has become an integral aspect of businesses these days.
Further, the report states that one challenge in the market is high switching and installation costs. Building automation provides enhanced visibility of energy utilization in a building at a sub-meter level, paving the way for more efficient facility management. Thus, vendors are developing advanced features, better functionality, compatibility features, and innovative technology to improve operational functionality that increases the overall price of the building automation solutions.
Automated Logic, Honeywell International, Johnson Controls, Schneider Electric, Siemens, Advantech, BuildingIQ, Cisco, Control4, ICONICS, Mass Electronics (Innotech), Trane, FIBARO, and EUROICC.