Intelligent Building Automation Technology Industry Insights
The intelligent building automation technology (IBAT) allows the users to scrutinize and control the building performance by not only enhancing the efficiency and performance of energy utilization of buildings but helps in increasing productivity, providing comfort and support sustainability efforts across the organization. IBAT helps in the optimization of the energy usage and operating costs. It offers numerous functionalities including ventilation, lighting management, heating, digital energy networks, and air conditioning management, buildings data analytics, micro-grid management, automated fault detection, and automated demand response.
Building automation improves the management activities of the entire infrastructure through the simple and easy to use software interfaces, which can be accessed using portable electronic devices, such as smart-phones and tablets, irrespective of their physical location. Moreover, the focus on controlling CO2 emissions, decreasing operating costs of infrastructure, initiatives taken by the government, and high return on investment for end-users are the influential factors expected to drive the global market for IBAT in coming years.
The increasing need for enhanced security and safety in intelligent buildings is also expected to considerably fuel the industry growth. The adoption of various protocols of building automation, development of open-ended architecture, easy access to technological developments, and implementation of intelligent systems in residential infrastructures are expected to support the industry growth on a large scale. However, lack of awareness among the end users, and high initial investments may pose a challenge for growth in over the forecast period. The commoditization of the systems and development of comprehensive valuation model may act as an opportunity for the key players. The use of IP based communication and the convergence of Internet of Things and automation technologies is opening new avenues for the development of such systems across commercial, residential and the industrial segments.
Global Intelligent Building Automation Technologies Market by product, 2014 - 2024 (USD Billion)
Product Segment Insights
The security systems, life safety systems, facilities management systems, and building energy management systems are the major product segments of the IBAT market. Facilities management systems are the largest contributor to this market; whereas, the demand for physical security systems is expected to grow on a large scale. The growing concern about life damages in emergency situations, log of energy consumption by different residential as well as industrial equipment, and security through video surveillance are expected to increase the demand for IBAT, leading to the growth in the coming years.
Application Segment Insights
In the residential areas, the technology is used for security enhancement as well as for the reduction of administrative costs. For instance, property owners can use the data collected by motion and occupancy sensors to regulate air-conditioning and lighting in real time, thereby reducing energy costs and optimizing the internal environment for its intended purpose. However, in large commercial sites, such as industrial zones, office parks, shopping malls, airports, and seaports, the technology helps in reducing the cost of energy, spatial management, and infrastructure maintenance by a large percentage.
Regional Segment Insights
Developed regions such as North America and Europe are expected to be the largest markets in terms of revenue due to high investments in infrastructure security and services as well as increasing technological developments in these regions. Asia-Pacific is expected to witness increased traction due to the adoption of IBAT in emerging economies such as China and India.
Competitive Market Share Insights
Siemens Building Technologies Inc. (Switzerland), Schneider Electric (France), Honeywell International Inc. (U.S.), Johnson Control Inc. (U.S.) and United Technologies Corporation (U.S.) are some of the prominent vendors in the market. Other key vendors include ABB Limited (Switzerland), Azbil Corporation (Japan), Eaton Corporation (Ireland), General Electric (U.S.), Ingersoll Rand Inc. (U.S.), among others.
New product development and technological upgrades are anticipated to be the most effective ways for industry players to gain a competitive advantage over other players and enhance the product capabilities. Partnerships and strategic merger & acquisition is also an extensively adopted strategy by key industry players to gain a significant share. The key players in the IBAT industry have also been focusing towards R&D activities for new technology developments and adaption while expanding the existing product line.
Avail customized purchase options to meet your research needs:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.