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The global commercial building automation market is driven by government initiatives for construction of green buildings.
PORTLAND, PORTLAND, OR, UNITED STATE, January 30, 2022 /EINPresswire.com/ — Growth in the need for energy-efficient commercial buildings drives the market. In addition, technological advancement such as IoT in building automation systems, adoption of various protocols of building automation as well as rise in demand for building automation within small and medium-sized buildings propel the growth of the market.
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However, lack of skilled laborers, technical issues, and high cost of implementation limit the growth of this market. Furthermore, the emergence of wireless commercial building automation systems and favorable government initiatives is expected to provide numerous opportunities for the growth of the market.
The commercial building automation market is segmented on the basis of end users, product type, communication technology, and region. End user segment covered in this study includes hospitals and healthcare facilities, airports, railway, office buildings, and retail and public assembly buildings.
Based on product type, the market is segmented into facility management systems, fire protection systems, security and access control systems, building energy management software, BAS services, and others.
By communication technology, the market is bifurcated into wired technologies and wireless technologies. Based on deployment type, the market is classified into cloud and on-premise. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The commercial building automation market is dominated by key players such as Cisco Systems, Inc., Hubbell Incorporated, ABB Ltd, Honeywell International Inc., Robert Bosch GmbH, Johnson Controls International plc, Schneider Electric S.E., Ingersoll-Rand plc, Siemens AG, and United Technologies Corporation.
Key Benefits:
• The study provides an in-depth analysis of the global commercial building automation market in BFSI and current & future trends to elucidate the imminent investment pockets.
• Information about key drivers, restrains, and opportunities is provided.
• Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of the global market from 2016 to 2023 is provided to determine the market potential.
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January 31, 2022, 02:18 GMT
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