Global intelligent building automation technology is growing with a CAGR of around 4.8% during the forecast period (2016-2023). Intelligent building automation technology provides the users to examine and control the building activity not only by enlightening the performance and efficiency of energy which is utilized in buildings however supports in mounting productivity, offering support sustainability efforts and comfort across the organization. The major boosting factor of global intelligent building automation technology are green building initiatives & environmental concern and developing cloud-based internet of things platforms. Moreover, demand of energy efficient buildings and lessening in Co2 emission, surging demand for integrated security and safety systems, initiatives taken by the government, and increasing implementation of IOT platforms in building automation technology is also boosts the global intelligent building automation technology market. Additionally, the absence of consistency in the deployment of technology and lack of awareness among end users are the major challenges of the global intelligent building automation technology market.
Based on segmentation, global intelligent building automation technologies are segmented into product and application. Product segment is segmented into life safety systems, security systems, facility management systems and building energy management system. Application segment includes commercial, residential and industrial application. Usage of IP based communication and the merging of automation technologies and Internet of Things is creating novel avenues for the growth of such systems across residential, commercial and the industrial segments. Furthermore, the facilities management systems are the major contributor to this market; however, the demand for physical security systems is anticipated to raise on a large scale. The rising concern about life damages in emergency conditions, log of energy consumption by different residential along with industrial equipment, and security through video surveillance are expected to increase the demand for Intelligent building automation technologies, leading to the growth in the coming years.
Geographically, the global intelligent building automation technologies are segmented into North America, Europe, Asia Pacific, and Rest of the World. North America is anticipated to hold the largest market revenue share in the year 2016. Furthermore, Asia Pacific is anticipated to be the fastest growing region owing to the acceptance of intelligent building automation technologies in developing economies such as China and India. Major player of the global intelligent building automation technologies is ABB Group, Schneider Electric Se, Cisco Systems, Inc., Flamencotech, Delta Controls, Johnson Controls, Inc., Honeywell International Inc., United Technologies Corporation and Others.