The Global Intelligent Building Automation Technologies Market size is expected to reach $103.7 billion by 2025, rising at a market growth of 7.3% CAGR during the forecast period
NEW YORK, Dec. 23, 2019 /PRNewswire/ --
The Global Intelligent Building Automation Technologies Market size is expected to reach $103.7 billion by 2025, rising at a market growth of 7.3% CAGR during the forecast period. Intelligent building uses advanced technologies and interconnected systems that can assist the automation of building management systems. This further facilitates the efficient operation of a building and supports space reconfiguration in response to changing usage. Because of increased demand for connectivity, improved automation of building management, expanding market for building automation and control system, as well as the need for energy-efficient solution to save energy and reduce carbon emissions around the world, the intelligent building market share has multiplied.
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In addition, continuous extensive population growth, specifically among developing countries, generates the need for smart buildings that offer optimum use of space in a core comforting and sustainable way. Due to this, many governments are making substantial investments in smart cities and smart building development in order to promote sustainable development practices to address the challenges of urbanization growth.
Increasing the need for integrated security and security systems and decreasing operating costs due to the uptake of BEMS (Building Energy Management Systems) contributes to the adoption or retrofitting into a smart building that is expected to drive demand for the global intelligent building market. In addition, increasing energy-efficient projects and growing digitization across commercial and industrial buildings are expected to provide the market with long term growth possibilities.
Based on Solution type, the market is segmented into Hardware, Software and Services. Intelligent building automation technologies are an integrated software and hardware network that manages and monitors the environment of building facilities. Various hardware devices used include actuators, controllers, and sensors. Collectively, these devices guarantee that HVAC systems are properly managed by automated control and that the building climate stays within an acceptable range. Based on Product, the market is segmented into Facility Management, Security Systems, Building Energy Management Systems and Life Safety Systems. Based on the Application, the market is segmented into Commercial, Residential and Industrial. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, ABB Group, Eaton Corporation PLC, United Technologies Corporation, Honeywell International, Inc., and Siemens AG are some of the forerunners in the Intelligent Building Automation Technologies (IBAT) Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include United Technologies Corporation, Honeywell International, Inc., Schneider Electric SE, Siemens AG, Johnson Controls International Plc., Ingersoll-Rand Plc., ABB Group, Azbil Corporation, Eaton Corporation Plc., General Electric (GE) Co. and Hubbell, Inc.
Recent strategies deployed in Intelligent Building Automation Technologies (IBAT) Market
Collaborations, Partnerships, and Agreements:
Aug-2019: Johnson Controls came into partnership with Patriot One, a developer of PATSCAN multi-sensor covert threat detection platform. Through this partnership, Johnson Controls would integrate PATSCAN multi-sensor covert threat detection platform to its overall security system deployment projects.
Jul-2019: Eaton signed partnership agreement with Mobile Automation in which Eaton will offer its advanced automation solutions to the clients of Mobile Automation. This partnership helps Eaton in expansion of its footprint for system integration across Mobile Automation's customers.
Apr-2019: Johnson Controls signed an agreement with Microsoft and Bee'ah in order to enhance Bee'ah's new headquarters in Sharjah. In this agreement, Johnson Controls and Microsoft will work together for providing smart building solutions in UAE that outfits the new building with intelligent edge systems, software, and devices.
Acquisition and Mergers:
Jun-2018: Siemens acquired J2 Innovations in order to expand its presence in building automation market. Through this acquisition, the portfolio of Siemens will enhance and this expansion will help it in becoming the leader in digital transformation through offering better IoT solutions.
Apr-2018: Ingersoll-Rand took over Agilis Energy, a data analytics company, which uses smart-metre energy analytics applications in order to quantify the energy usage patterns. This acquisition is aimed at helping the multi-family residential, commercial and industrial sector companies in achieving the annual energy savings.
Product Launches:
Nov-2019: Eaton released new Scantronic grade 2 and 3 panels, both compatible with SecureConnect™, an innovative smart security management system for commercial and residential buildings. It delivers smart security control and convenience and ensures that the system users and installers remain secure.
Sep-2019: ABB launched new open API platform in order to develop the potential for the new era of smart home automation. This platform helps in delivering the full electric appliance integration to partners and developers in professional smart home sector. Sep-2019: Honeywell announced the launch of next generation of Enterprise Building Integration (EBI), Command and Control Suite (CCS), and Digital Video Manager (DVM) solutions. Through this, the company enhanced its cybersecurity solutions for protecting the companies against cyberattacks on network systems, data, and buildings infrastructure.
Jul-2019: Hubbell Lighting launched SpectraClean luminaires, which combines HINS Technology with Integrated Wireless Controls. This luminary offers visible light disinfection technology for industrial and commercial markets.
Jun-2019: Honeywell introduced Honeywell Forge for Buildings, a solution that helps the business operators and business owners in decreasing operating expenses, improving energy consumption, and managing the space optimization across the building portfolio.
Jan-2019: Johnson Controls released Metasys 10.0, a solution for delivering unified building management solutions. This solution provides smarter building automation, new integrations with fire detection, faster responses to critical alarms, and security & lighting systems.
Aug-2018; Carrier, a UTC company launched i-Vu® system v7, which has the features of graphics library and reporting tools. These features delivers more visibility to facility staff of their building performance so that they can maintain the ideal environment for occupants and operate the buildings efficiently.
May-2018: Honeywell announced the launch of IQ Vision, a building energy management system (BEMS) from Trend Control Systems. This system combines the Trend Controllers, internet protocols, and smart devices into a single platform, which helps the operators in managing and saving energy in real-time.
Expansions:
Aug-2019: Azbil opened a new production unit at its main factory near Shonan city in Japan. This new production unit would be the part of 'mother factory'. This new unit is aimed at consolidating the domestic factories in order to create and advanced production network, which brings humans, machines, and processes together.
Dec-2018: Siemens opened a new smart campus in Zug, which is the first new building project to use the building information modelling in its construction and design. This campus is equipped with security, building automation, and fire safety technology.
Jul-2018: Azbil expanded its reach to Asia by opening a new strategic planning and development office in Singapore. This new office has been opened for expanding its business through introducing advanced business models such as 'Energy Management' business.
Apr-2018: United Technologies opened a new center for intelligent buildings, a state-of-art innovation, and technology experience center. This expansion is aimed at developing intelligent automation solutions.
Mar-2018: ABB India, a subsidiary of ABB opened a new smart factory in Bangalore focusing on the production of connection solutions and electrical protection solutions. This line has the capability of tracking a displaying the operational performance parameters in order to monitor the entire manufacturing process.
Scope of the Study
Market Segmentation:
By Solution Type
• Hardware
• Software
• Services
By Product
• Facility Management
• Security Systems
• Building Energy Management Systems
• Life Safety Systems
By Application
• Commercial
• Residential
• Industrial
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• United Technologies Corporation
• Honeywell International, Inc.
• Schneider Electric SE
• Siemens AG
• Johnson Controls International Plc.
• Ingersoll-Rand Plc.
• ABB Group
• Azbil Corporation
• Eaton Corporation Plc.
• General Electric (GE) Co.
• Hubbell, Inc.
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