Building Automation System Market Worth $100.6 Billion by 2022
Ability to increase energy efficiency and enhance security and safety are driving growth
PUNE, India — The global building automation system market is forecast to reach $100.6 billion by 2022, increasing at a compound annual growth rate (CAGR) of 10.65 percent between 2016 and 2022, according to a new market research report published by MarketsandMarkets.
The ability of building automation and control systems to increase energy efficiency and enhance security and safety in buildings are the major factors driving growth in the market. Additionally, advancements in wireless communication technologies and the convergence of the Internet of Things (IoT) and building automation are further driving the market.