NEW YORK — Rapid adoption of newly set regulations among several countries of the world by building automation systems manufacturers is fueling the demand for building automation systems.
The global market for building automation systems was worth $43 billion in 2015 and $48 billion in 2016, in terms of revenue, and is estimated to account for $141.1 billion by the end of 2026. The global market for building automation systems is expected to grow at an 11.1 percent compound annual growth rate (CAGR) from 2016-2026.