According to a new research recently released from ResearchAndMarkets.com, the size of the global intelligent building automation technologies market 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.
According to the "Global Intelligent Building Automation Technologies Market (2019-2025)" report 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. In addition, continuous extensive population growth, specifically among developing countries, generates the need for smart buildings that offer optimum use of space in a sustainable way. As a result, 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 building energy management systems (BEMS) 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.
For more information on global product trends in this growing field, market segment analysis, recent strategies deployed by market partners, related mergers, acquisitions and collaboration partnerships, product launches that are expected to boost this market, and key players in the building automation arena, read the original report.