Efficiency, Building Automation Define Successful 2015
Global market to reach $116.4 billion by 2020, up from $90.1 billion in 2014
Building automation is poised to remain a key growth area for the HVACR industry over the next several years. A recent report by BCC Research forecasts the global market to reach $116.4 billion by 2020, up from $90.1 billion in 2014. While currently dominated by the larger industry players, particularly Honeywell Intl. Inc., Schneider Electric, Johnson Controls Inc., and Siemens, significant opportunities exist for new entrants who demonstrate innovative technologies. Building automation has become a significant application for the broader Internet of Things (IoT) development, where millions of devices are already communicating with one another, and billions more machine-to-machine (M2M) connections are expected in coming years. With all of these devices interacting, certain standards must be adopted to ensure seamless communication between systems, and it’s important for manufacturers as well as contractors to be mindful of ongoing developments on this front.
One early mover in universal standards is the KNX Association, which was founded in 1999 by a group of European trade associations in response to the need for effective communications between automation systems. The KNX Association is made up of manufacturers that develop devices for several home- and building-control-based applications standards, like lighting control, shutter control, HVAC, energy management, metering, monitoring, alarm/intrusion systems, household appliances, audio/video, and many more.