Global Building Automation and Control Networks [BACnet] Market

Building Automation and Control Networks [BACnet] Market: Insights

The global Building Automation and Control Networks [BACnet] Market is estimated to witness a significant CAGR during the forecast period (2019-2026). The growth of the Building Automation and Control Networks [BACnet] Market is anticipated to increase with the growing demand for green buildings, along with other factors, such as rise in efficient operation and real-time status information among others. The market is also expected to grow owing to stringent policies and regulations imposed by government bodies, for increasing cost-saving demand of building owners. The system was designed to allow communication for applications such as heating, ventilating, and air-conditioning control (HVAC), lighting control, access control, and fire detection systems and their associated equipment among others. High installation cost, concern regarding security and strict government laws and regulations are some of the factors expected to hamper the growth of Building Automation and Control Networks [BACnet] Market.

Building Automation and Control Networks [BACnet] Market: By Type

On the basis of type, the global Building Automation and Control Networks [BACnet] Market is segmented into software and hardware. The hardware segment is expected grow during the forecast period, owing to large number of devices that are required to set up the BACNET system in the facility. The hardware devices used in the BACNET system includes pulse converter, analog input, routers, network ports and timers among others. The market for software is also expected to increase during the forecast period owing to continuous upgradation required in the BACNET system and for the increasing treat against hacking of system.

Building Automation and Control Networks [BACnet] Market: By Application

On the basis of application, the global Building Automation and Control Networks [BACnet] Market is classified into heating, ventilation, life safety & security management, lighting control, physical access control, elevator monitoring, and among others. The heating segment is expected to hold the largest market share in the application segment. The growth of the segment can be attributed to multiple factors, one of them being increasing demand for efficient energy management and growing environmental impact.  BACNET is the perfect solution to energy efficiency. With the help of BACNET, power is cut automatically to appliances when no one is using them, eventually saving significant amount of energy annually. The lighting segment is also expected to grow during the forecast period owing to reducing the electricity load in the building. According to the statistics from 2013, residential and commercial consumption of electricity results in losses of 46% and 52.1% energy respectively. With the help of BACNET, these loses can be reduced significantly.

Building Automation and Control Networks [BACnet] Market: By End-Use

On the basis of end-use, the global Building Automation and Control Networks [BACnet] Market is segmented into leisure & hotel, style exhibition, government organizations, commercial office, scientific research institutions, and manufacturing plant, among others. The commercial office segment is expected to occupy the largest market share in terms of revenue in the end-use segment. Advancement in the commercial sector with the companies adopting new technologies is the major factor for the growth of the commercial office segment in the end use segment.

Building Automation and Control Networks [BACnet] Market: By Region

North America region is expected to hold the largest market share. The Building Automation and Control Networks [BACnet] Market in the region is expected to witness a significant growth owing to consumers adopting tremendous energy-saving solutions in the residential, commercial and industrial sectors with the deployment of building automation controls. Several key federal policy directives, rising energy costs, stringent regulations concerning greenhouse gas emissions, and growing awareness about the benefits of BACNET, are the major factors driving the market in the region.

Asia Pacific is expected to witness considerable growth in the Building Automation and Control Networks [BACnet] Market. The growth of the market in the region can be attributed to increased technological advancement in the field of artificial intelligence. The growing number of government and commercial offices in the region with high working population among others are expected to have a positive impact on the Building Automation and Control Networks [BACnet] Market in the region. The market of BACNET is also expected to grow in Middle East and Africa. Growing leisure & hotel segment is one of the major factors propelling the market growth in MEA region. According to the World Tourism Organization, 87 million international tourists arrived in the year 2018 in the region which is expected to boost the Building Automation and Control Networks [BACnet] Market in the region.

Building Automation and Control Networks [BACnet] Market: End Use Landscape

The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase BACNET. The key end-users of the markets are Hyatt Hotels, Amazon, Apple, and New China Mall among others.

Building Automation and Control Networks [BACnet] Market: Vendor Landscape

The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.

Building Automation and Control Networks [BACnet] Market: Share & Competitor Analysis

Some of the key players operating in the Building Automation and Control Networks [BACnet] Market are Honeywell, Johnson Controls, Siemens, Schneider, Trane, Azbil, UTC, Beckhoff, Technovator, Mitsubishi Electric, SUPCON, ST Electronics, KMC, GREAT, Cylon, Deos, Airedale, Fidelix and ASI among others.

In March 2019, Mitsubishi Electric launched BEAM AX energy management system, which is a cloud-based solution for analyzing energy costs and usage in commercial buildings. The energy management system provides the tools to track performance, analyze energy use, forecast peak demand, detect usage abnormalities, with lower costs and monitor solar production performance and benefits among others.

In June 2019, Honeywell launched INNCOM 5 (IC5) Energy Management and Guestroom Control System that will allow multi-property scalability for full portfolio management to identify and resolve issues before guests can track any problem.

Please note: This is not an exhaustive list of companies profiled in the report.