ipopba/iStock/Getty Images Plus
Ecmweb 25373 Gettyimages 1022887882ipopba Istock Getty Images Plus
Ecmweb 25373 Gettyimages 1022887882ipopba Istock Getty Images Plus
Ecmweb 25373 Gettyimages 1022887882ipopba Istock Getty Images Plus
Ecmweb 25373 Gettyimages 1022887882ipopba Istock Getty Images Plus
Ecmweb 25373 Gettyimages 1022887882ipopba Istock Getty Images Plus

Smart Infrastructure Investments to Drive Building Automation System Market

Aug. 22, 2019
East Asia expected to see largest growth opportunities   

The global building automation system market grew 7% in 2018 to reach $35 billion (up from $33 billion in 2017), according to a new study from Future Market Insights called “Building Automation Systems Market: The Future is Intelligent.” Based on this recent research, five main players command nearly 40% of the global market share in this sector.

The study forecasts that adoption of building automation systems in commercial applications will grow by approximately 8% year over year in 2019, representing around 64% of the total revenue in that year. Commercial structures, such as offices, schools, hospitals, and others, are expected to stay at the forefront of demand for a centralized control system that offers hassle-free operations.

Europe (32%) and North America (30%) retained their lead as the largest markets for building automation systems in 2018, and this status quo is expected to remain the same in 2019 and beyond. However, analysts expect East Asia is to emerge as the new gold mine of opportunities, with growth primarily driven by a drastic make-over of the regional AEC (architecture, engineering, and construction) industry. With smart buildings emerging as the point of convergence across developing markets, report analysts predict the East Asia building automation system market will be set to grow by 9% year over year in 2019.

For more information, see the full report.

Voice your opinion!

To join the conversation, and become an exclusive member of EC&M, create an account today!

Sponsored Recommendations

Electrical Conduit Comparison Chart

CHAMPION FIBERGLASS electrical conduit is a lightweight, durable option that provides lasting savings when compared to other materials. Compare electrical conduit types including...

Fiberglass Electrical Conduit Chemical Resistance Chart

This information is provided solely as a guide since it is impossible to anticipate all individual site conditions. For specific applications which are not covered in this guide...

Considerations for Direct Burial Conduit

Installation type plays a key role in the type of conduit selected for electrical systems in industrial construction projects. Above ground, below ground, direct buried, encased...

How to Calculate Labor Costs

Most important to accurately estimating labor costs is knowing the approximate hours required for project completion. Learn how to calculate electrical labor cost.