Global commercial building automation market: 3.6% CAGR growth forecast between 2012-16
Global Commercial Building Automation Market 2012-2016 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-26 08:48:03
The Global Commercial Building Automation market is to grow at a CAGR of 3.64 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need for improved safety systems. The Global Commercial Building Automation market has also been witnessing the increasing adoption of wireless commercial building automation systems. However, the lack of effective product differentiation could pose a challenge to the growth of this market.
Though the EMEA region contributed less market share to the Global Commercial Building Automation market compared to the Americas, the Commercial Building Automation market in the EMEA region is growing at a faster rate than the Commercial Building Automation market in the Americas. The increasing awareness about commercial building automation systems and the enforcement of government policies toward energy conservation is expected to drive the increasing adoption of commercial building automation systems in this region. In the EMEA region, the Middle East is the fastest growing region for commercial building automation systems. The Commercial Building Automation market in the Middle East has remained strong despite the political unrest and economic uncertainty in Dubai. This region is expected to invest a huge amount toward its infrastructure development. For instance, according to Abu Dhabi Plan 2030, this region is expected to invest around US$40 billion in a project to build a 4,500 hectare Capital District.
One of the major drivers is the need for improved safety systems. The effective deployment of effective safety systems allows enterprises to avoid any unwanted activities and offer better working environments to their employees.
The vendors of commercial building automation systems are facing increased competition from other international vendors and counterfeit building automation vendors due to the lack of product differentiation.
The key vendors dominating this market space are Johnson Controls, Inc., Honeywell International Inc., Schneider Electric SA., and Siemens AG.
Other vendors are Circon Systems Corp., Delta Controls Inc., Invensys Building Systems, Novar Controls Corp., Solidyne Corp., Trane Inc., Tyco International Ltd., and Yamatake Corp.
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