Building automation is an easy way of controlling and monitoring systems installed in buildings. These systems include facility management systems, security and access controls, and fire and life safety alarms. Building automation helps reduce energy consumption in buildings, enhances the comfort level of occupants, and manages building operations effectively. The growth of the building automation system market is fueled by the increasing requirement for energy-efficient facilities with enhanced security systems. Besides this, advancements in wireless communication technologies have reduced the complexity and the cost of installing building automation systems in the existing buildings.

The combination of IoT and building automation has also enabled the exchange of information among several electronic devices and the cloud without the need for direct human intervention that makes buildings smart. This factor has also accelerated the growth of the building automation system market. However, the key restraints faced by the companies operating in this market include the false notion about the high installation costs of building automation systems and technical difficulties in their deployment.

The increasing global concerns for energy conservation and the rising energy costs are fueling the demand for building automation systems for making buildings energy efficient. This is one of the key factors driving the growth of the building automation system market. The surging demand for building automation systems for use in commercial applications can be attributed to the ability of these systems to reduce the operating costs of buildings. The easy maintenance of temperature and lighting levels, along with enhanced security levels offered by building automation systems, fuel market growth.

Opportunity: Rise in government and stakeholder funding for developing smart cities

Nowadays, cities need innovative solutions to overcome long-term challenges such as controlling traffic flows, managing waste, meeting energy-efficiency targets, controlling security breaches, and managing city surveillance owing to rapid urbanization. Governments in developing economies, including China and India, are focusing on developing smart cities through huge government and stakeholder funding to curb the long-term challenges arising from growing urbanization. With increasing threats from terrorism, both international and domestic, public-concentrated areas, including government offices, buildings, schools, and prisons, are exposed to security threats. 

To know more:Global Building Automation Systems Market