Growth in Green / Smart Buildings is Driving India Building Automation and Control Systems Market, Says TechSci Research
Burnaby, Canada, March 20, 2014 --(PR.com
)-- The automation & control systems in buildings provide various benefits such as lower operating cost, conserve energy resources and lower CO2 emissions. Further, the systems facilitate in continuous energy monitoring and energy optimization of a building. India is one of the major building automation & control system markets, exhibiting double digit growth. The building automation & control systems market is largely driven by electronic security & safety segment due to increasing demand for CCTV and biometrics based security systems in the buildings.
In HVAC building automation & control systems market, thermostat, zone and climate control, sensors and keypads are spurring the demand for HVAC building automation systems, while emerging carbon dioxide & combine sensors segment is projected to further boost market growth over the next five years. The lighting control building automation & control systems market in India is witnessing increasing demand for relay systems, controllable breakers, dimming systems, switching solutions, and sensors. Moreover, the cloud based energy control and automated demand response solutions are also anticipated to contribute significantly to augment growth in the India’s building automation & control systems market in coming years.
According to the recently published TechSci Research report “India Building Automation & Control Systems Market Forecast & Opportunities, 2019”, the Indian building automation & control systems market is anticipated to grow by three folds, in revenue terms, by 2019, exhibiting robust CAGR of around 21.7% during 2014-19. Siemens, Schneider Electric and Honeywell Automation are the leading system integrators & solution providers of building automation & control systems in India. Further, Energy Service Companies (ESCOs) are also increasing their focus on providing energy efficiency implementation solutions, including financial assistance to the buildings through funding models such as guaranteed and shared saving models.
“In India’s building automation & control market, north region accounts for the largest share, in revenue terms, due to aggressively growing demand from the region’s commercial segment. This region is expected to continue its dominance over the next five years, on account of rapid infrastructure development along with increasing urbanization. Also, with the emergence and adoption of green & smart building concept coupled with increasing demand for enhanced comfort by the occupants, the building automation & control systems market in India is forecast to deliver strong growth over the next five years,” said Mr. Karan Chechi, Research Director, with TechSci Research, a research based global management consulting firm.
“India Building Automation & Control System Market Forecast & Opportunities, 2019” has analyzed the potential of the building automation & control systems market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.