NEW YORK, Oct. 19, 2023 /PRNewswire/ -- The "building automation software market by product (BMS software and standalone building automation software), end-user (commercial, industrial, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa) - Forecast and Analysis 2023-2027" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the building automation software market from 2022 to 2027 is USD 25.46 billion. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here
The growing need for building automation to enhance business outcomes is a key factor driving market growth. There are several advantages to developing automation software. This software allows industrial, residential, and commercial buildings to manage, control, and operate building operations more easily and efficiently. Learn about additional key drivers, trends, and challenges available with Technavio. Read Free Sample PDF Report Now
Market Challenge
The vulnerability and cybersecurity threat are significant challenges restricting market growth. Building automation software is much more difficult to implement than conventional building systems, such as lighting, safety, and security. As a building's infrastructure increases, correctly integrating the software that performs different functions becomes a challenge. If this integration is not completed, the software can be exposed to a variety of physical and cyber threats.
- The market share growth by the BMS software segment will be significant during the forecast period. BMS software systems account for the majority of the overall building automation software market share, as BMS software provides comprehensive building automation solutions, along with powerful analytics tools. In retail and office buildings, BMS software is widely used. Similarly, it is becoming increasingly necessary to use automated control of facilities in order to achieve effective energy management in production units.
View the Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Key Companies in the building automation software market:
ABB Ltd., Advantech Co. Ltd., Beckhoff Automation GmbH and Co. KG, BuildingLogiX, Cisco Systems Inc., Delta Electronics Inc., Emerson Electric Co., EUROICC, General Electric Co., Hitachi Ltd., Honeywell International Inc., Ingersoll Rand Inc., Johnson Controls International Plc, Lennox International Inc., Lutron Electronics Co. Inc., Raytheon Technologies Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, and Siemens AG
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Building Automation Software Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 14.22% |
Market growth 2023-2027 |
USD 25.46 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
14.02 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 37% |
Key countries |
US, China, India, Germany, and the UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., Advantech Co. Ltd., Beckhoff Automation GmbH and Co. KG, BuildingLogiX, Cisco Systems Inc., Delta Electronics Inc., Emerson Electric Co., EUROICC, General Electric Co., Hitachi Ltd., Honeywell International Inc., Ingersoll Rand Inc., Johnson Controls International Plc, Lennox International Inc., Lutron Electronics Co. Inc., Raytheon Technologies Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, and Siemens AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-User
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
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Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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