April 27, 2015: US Building Automation Market to Grow 9 Percent Through 2020
Rising Energy Costs and Stringent Regulatory Policies to Drive US Market
BURNABY, British Columbia — The United States market for building automation system (BAS) products is forecast to grow at over 9 percent through 2020, according to a TechSci Research report, “United States Building Automation & Control Systems Market Forecast & Opportunities, 2020.” Rising energy costs and stringent regulatory policies are the major growth drivers for BAS products in the U.S. In addition, rising awareness regarding greenhouse gas emissions and their negative impact on the environment is expected to generate positive market sentiment with regard to BAS products and services across the country. Commercial and industrial facilities are the leading end users of BAS products and services in the U.S.
While the HVAC controls segment captured the majority share in the U.S. building automation and control systems market in 2014, the security and access controls segment is set to emerge as the fastest growing over the forecast period, due to growing security concerns. With the rise in acts of vandalism and unauthorized access, demand for security and access controls is expected to escalate over the next five years. Meanwhile, the market for lighting controls is expected to witness growth at a lower rate due to growing use of LED lights.
“Honeywell International, Johnson Controls, and Schneider Electric are the leading BAS providers in the U.S. building automation and control systems market. The market is expected to witness impressive growth over the next five years, on account of growing federal spending on modernizing its building infrastructure,” said Karan Chechi, research director with TechSci Research.
For more information on the building automation market report, click here.
Publication date: 4/27/2015