Dec. 28, 2011: Building Automation Market Reaches $1.7 Billion in the Americas in 2010
“Whilst the construction market has faltered through the tough economic climate, IMS Research forecasts the building automation market to outpace construction market forecasts as business and governments alike look to improve the efficiency of their buildings,” said William Rhodes, market analyst at IMS Research.
Building automation systems can be installed in new and existing buildings enabling HVAC and other systems to communicate with each other. This ensures they run as efficiently as possible, saving the company money. Building automation equipment companies interviewed by IMS Research for the report indicated automated buildings can realize energy cost savings ranging from 10 percent to 40 percent annually.
Currently, most new large buildings have building automation systems installed. However, one of the key growth areas for the market is retrofitting existing buildings with automation systems.
An example of the commitment towards greater efficiencies in buildings is U.S. Presidential Order 13423. Signed in October 2009, it recognizes the federal government as one of the largest consumers of energy in the U.S. and states the federal government will lead by example and make improvements to the environmental and energy performance of its nearly 500,000 buildings.
Publication date: 12/26/2011