Market Overview

• Initiatives taken by the government for the implementation of standards like ISO 50001 (energy-management-system standard) in the building sector have the potential to encourage the integration of building automation systems. Thus, more opportunities for automation can be found across small-to-medium buildings and all the buildings in the emerging regions of the world, majorly in the Asia-Pacific, where the number of households has grown exponentially over the last two decades.  
• Rising need for installing social alarm systems and smart fire systems has further contributed towards the growth of the building automation systems market.  Also, concerns regarding access control and security account for a major share of the building automation systems market. The market is witnessing an increasing demand for theft control alarm systems due to the rising number of crimes. For instance, in 2018, a number of crimes committed in Singapore for every 100,000 individuals were 588. Other factors augmenting the demand for these systems is the implementation of safety and security legislation that mandate the use of electronic security systems in commercial buildings. For instance, implementation of  European standards, such as PD 6662 that sets standards for intruder and hold-up alarm system (I&HAS) in buildings.
• Companies are increasing building automation is because they save about 15% of the cost of annual energy consumption. Growing government initiatives regrading development of smart cities are also expected to offer significant opportunities to the market. According to the Consumer Technology Association, spending in smart cities is expected to reach USD 34.35 billion in 2020. 

Scope of the Report

Building Automation Systems consists of a network of microprocessor-based wireless or wired controllers connected to various systems in a building to manage the equipment and optimize energy spend.  It operates the controls of a building from a centralized point, which implies that these systems can be monitored from a small number of stations located throughout the building.

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Key Market Trends

Environment Control (HVAC) and Lighting Management is Expected to Hold a Significant Share

• The smart HVAC (heating, ventilation, and air conditioning) systems are critical with respect to the depleting natural resources, primarily fossil fuels, which are expected to raise the cost of energy supply and distribution over the forecast period. Owing to increasing government regulations across developed and developing countries, most of the buildings need smarter heating and cooling in new buildings, which is aiding to the growth of the HVAC systems. Smart HVAC upgrades can save substantial amounts of money on utility bills, around 30-50%.
• Further, rising levels of electricity consumption have enabled consumers to opt for more energy-efficient solutions. According to the EIA, the end-use of electricity in the United States increased by 1.5% from 2010 to 2018. A sizeable section of end-user industries is shifting towards more energy conservation methods. One of the methods includes smart lighting systems, which can be controlled using a smartphone and provide very convenient ease of access. Smart lighting systems, not only enhance energy conservation through the use of smart meters but also can convert an office or home into a high-tech one, connected by the IoT.

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