DUBLIN, Feb. 5, 2021 /PRNewsCentre/ — The "Global Building Automation Systems Market 2020" report has been added to ResearchAndMarkets.com’s offering.
Global BAS market revenue rose 3.1% in 2019 to reach $4.7 billion.
The analyst projects fallout from the COVID-19 pandemic to cause a 0.9% market contraction in 2020, but sustained single-digit growth to resume (ultimately resulting in a 3.4% compound annual growth rate from 2019 to 2026) as the crisis abates and building owners focus on operational cost savings.
The Internet of Things has allowed numerous devices and systems to connect and communicate, generating a wealth of data that can be captured and converted to actionable insights through high-performance control and automation interfaces. In the building automation space, digitalization allows building managers to optimize energy use and save money yet still ensure occupant comfort.
The market has evolved from traditional systems with core automation and control of heating, ventilation, and air conditioning to encompass intelligent networks that include systems for lighting, fire, access and safety, and facility management. Smart buildings will continue to develop.
In the next wave of building automation system innovation, cloud-based solutions will proliferate and the broader benefits of artificial intelligence will be on display as deep learning algorithms enhance machines’ self-learning capabilities based on predictive analytics. A fully connected ecosystem, however, increases building owners’ fears of hacking and system failure: suppliers must be able to offer robust security and failsafe features.
Key Topics Covered:
1. Strategic Imperative and Growth Environment
2. The Report Radar
3. Companies to Action
4. Strategic Insights
5. Next Steps: Leveraging the Radar to Empower Key Stakeholders
For more information about this report visit https://www.researchandmarkets.com/r/lpl50w
Research and Markets
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SOURCE: Research and Markets