HVAC Breaking News

May 6, 2013: Building Automation Market to Top $43 Billion by 2018

NEW YORK — After years of steady but slow growth, the commercial building automation systems (BAS) market is experiencing a rapid period of change and investment, according to ABI Research. Traditionally, growth and adoption has been closely tied to new building completion but new entrants and new connectivity are driving greater investment. Over the next five years, ABI Research forecasts that the building automation services market will grow to $43 billion, up from $35 billion this year.

Two key factors are driving a new round of growth. Greater environmental and financial demands have raised the appeal of reducing energy consumption in commercial buildings and the benefits for optimizing building automation systems. In addition, a new level of connectivity that stretches the reach of BAS’s from new sensors and actuators through to cloud application management and data analysis.

“This is a market long dominated by a handful of major players who deploy and manage commercial building management systems,” said Jonathan Collins, principal analyst at ABI Research. “Now these players are developing new ways to integrate and compete with a host of new service offerings.”

Dominant players Honeywell, Johnson Controls, Schneider Electric, and Siemens are increasingly seeing demand for their BAS systems connected to third-party software as building owners gradually look to gain savings and an additional level of control within their properties. Within the BAS market, software and services will see the greatest revenue growth while hardware will lag as the pricing of actuators and switches fall.

Publication date: 5/6/2013

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 World Energy Engineering Congress

Scenes from the 2014 World Energy Engineering Congress in Washington, D.C.

Podcasts

NEWSMakers: Matt Barga

Matt Barga, portfolio manager — a/c and coils, Ingersoll Rand, discusses how the company is working to comply with the new energy conservation standards for heat pumps and air conditioners that go into effect on Jan. 1, 2015. Posted on Dec. 19.

More Podcasts

ACHRNEWS

NEWS 12-15-14 cover

2014 December 15

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

HVAC TECHNICIAN SHORTAGE

In order to bring more people into the trade and produce more technicians, what should the industry do?
View Results Poll Archive

HVACR INDUSTRY STORE

2015.jpg
2015 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con