Global Intelligent Building Automation Technologies Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the Intelligent Building Automation Technologies market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. Intelligent Building Automation Technologies Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the Intelligent Building Automation Technologies Market forecast.
The Intelligent Building Automation Technologies Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.
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The global intelligent building automation technologies market is projected to reach USD 105.2 billion by 2025 and expected to grow with CAGR of 7.0% over the forecast period, from 2019 to 2025, according to Million Insights. Growing awareness of sustainability in the wake of rising global warming is anticipated to fuel the market growth during the forecast period. Emergence of new technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) is projected to propel the market growth in the near future.
Increasing concern about workplace security and safety, rapid shift towards smart and green building projects, and enhancing the comfort level of people are some of the major factors that are anticipated to witness a positive impact on market growth. Growing demand for safety and smart HVAC across the hospitality and healthcare sectors is also boosting the market demand. IBAT plays an important role across several industries, as it helps to reduce operational cost and increase energy efficiency.
Increasing number of smart infrastructure projects worldwide is anticipated to propel the market growth in the next few years. Several factors like the emergence of cloud-based internet of things platforms, initiatives for green buildings, and rising environmental issues are anticipated to drive the IBAT market growth. The high cost of energy usage and growing need to manage them are other key factors to propel market demand.
Key market players are focusing on some strategies like product launches and innovation to sustain in the competitive market. Tech giants are also concentrating on mergers &acquisitions to gain maximum market share. For example, in 2018, Honeywell International Inc. acquired a warehouse automation solutions provider Transnorm. This acquisition will help the former to gain a maximum customer base in Western Europe.
Some of the companies for Intelligent Building Automation Technologies market are:
Schneider Electric; United Technologies Corporation Azbil Corporation; General Electric; Ingersoll Rand plc; Siemens Building Technologies IncHubbell Inc.; Eaton; ABB; Johnson Control; Honeywell International Inc.; and Rockwell Automation Inc.
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