New York, NY 8 Jan
2020: The intelligent building automation
technologies market is anticipated to reach over USD 118.7
billion by 2026 according to a new research published by Polaris Market
Research. In 2017, the commercial intelligent building automation technologies
segment dominated the global market, in terms of revenue. North America is
expected to be the leading contributor to the global market revenue during the
forecast period.
The major driving factor
for the intelligent building automation technologies market is the increasing
need of infrastructure with reduced CO2 emissions, which further triggers
governments to provide more incentives as the trend of smart-cities is on a rise.
IBAT also has become a differentiator in the real estate business as it
conforms with improved safety and security systems.
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The IBAT aims to reduce
operational costs substantially through the integration of IoT platforms.
Several stringent energy consumption regulations passed by governments
worldwide have boosted the adoption of Intelligent Building Automation
Technologies. Growing concerns regarding environment, depleting fuel resources,
and increasing need to reduce energy consumption further support the growth of
intelligent building automation technologies market. Other factors supporting
market growth include supportive government regulations, increasing awareness,
and technological advancements. Increasing investments by vendors in
technological advancements coupled with research and development further boost
the market growth.
North America generated
the highest revenue in the market in 2017, and is expected to lead the global
market throughout the forecast period. There are rising concerns among
consumers regarding the environment, which coupled with increasing awareness
regarding intelligent building automation technologies drives the intelligent
building automation technologies market growth in the region.
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The governments in the
region are collaborating with engineers and architects to promote the adoption
of Intelligent Building Automation Technologies. Commercial buildings are
adopting Intelligent Building Automation Technologies owing to stringent
government regulations, and the need to reduce operation costs.The major
players operating in the intelligent building automation technologies
market include Siemens Building Technologies Inc., General
Electric, Johnson Controls Inc, ABB Ltd., Eaton Corporation, Rockwell
Automation, Ingersoll Rand Inc., Schneider Electric, Honeywell International,
and Delta Controls. These companies launch new products and collaborate with
other market leaders to innovate and launch new products to meet the increasing
needs and requirements of consumers.
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specializes in providing exceptional market intelligence and in-depth business
research services for our clientele spread across different enterprises.
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