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Commercial Building Automation Investment Growing Rapidly

March 13, 2015, 07:00 AM
Filed Under: Industry News

According to a recent report from Navigant Research, cumulative worldwide revenue for commercial Building Automation Systems (BASs) is expected to exceed $713 billion from 2015-2023.

“The adoption of BASs is being driven by several goals: to provide comfort for building occupants, optimize energy use, and comply with building energy codes,” says Benjamin Freas, research analyst with Navigant Research. “Prevalent for some years in the largest and most modern buildings, BASs are now expanding into smaller buildings, as well.”

Advances in the deeper integration of disparate BASs (for heating, ventilation, and air conditioning, or HVAC, lighting, security, safety, and so on) are helping drive their adoption in commercial buildings, according to the report. However, these systems have yet to reach their full market potential.  Growth in the BAS market remains dependent on rates of new construction and building retrofits, which, in turn, are driven by overall economic conditions in each world region.   .

The report, “Commercial Building Automation Systems,” analyzes the global market for commercial BASs for HVAC, lighting, fire & life safety, and security & access controls, as well as integrated building management systems (BMSs).  It assesses how market drivers and technology advances are expected to affect the adoption and success of these systems.  Global market forecasts, segmented by five key application segments, eight commercial building types, and two construction types, extend through 2023.  The report also provides in-depth profiles of the key industry players within the competitive landscape. 


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