The Future of Building
TWO RECENT REPORTS analyze the outlook for building
automation and control systems. One, published by Statistics
MRC, reports that this market accounted for $46.37 billion in
2015 and is expected to reach $98.6 billion by 2022, growing at
a compound annual growth rate (CAGR) of 11. 3 percent during
that time period.
According to Statistics MRC, factors contributing to the
expected growth include improvements in Internet of Things
(Io T) transformation, the rising adoption of building automation
technology in general, developments in communication
technologies, a huge growth in building automation-centric
wireless protocols, and the growing number of emerging
countries that are developing infrastructure technologies.
Another report, published by ReportsnReports, suggests that
the market will reach $100.6 billion by 2022, representing a 10. 65
percent CAGR from 2016 to 2022.
“The growing concern for the conservation of energy,
coupled with the rising cost of energy, are driving the demand
for energy-efficient buildings,” according to ReportsnReports.
“The building automation system not only helps to increase
the energy efficiency of the building, but also helps to enhance
security and safety in buildings.”
There are challenges, however.
“Lofty initial investments and lack of experienced personnel
are the major restraints for the building automation and control
systems market,” according to Statistics MRC. “Requirements of
open communication protocols will also be a major challenge for
Both reports suggest commercial building applications will
lead the growth of this market, owing to declining operating
costs of investments and rising demand for energy conservation.
Another report, focusing on building automation software
for the smart building market specifically, anticipates that this
market will grow from $5.73 billion in 2016 to $24.73 billion by
2021, representing a CAGR of 34 percent.
“The major drivers for the upsurge in demand for smart
building technology solutions include emphasis on energy
efficient buildings and reducing CO2 emissions, growing
initiatives by government authorities for the development of
smart building projects, a rising need for integrated security and
safety systems, and the rising adoption of Io T platforms within
building automation technology,” the report states.
*Results are based on an outside third-party research survey conducted by Russell Research,
an independent survey research firm, evaluating the professional experiences of electricians,
including training, current trends, workforce issues, and tool purchases. Online interviews
were conducted with 200 electricians from January 27 – February 5, 2016 to secure a
nationally significant representation. Forty percent of respondents were union members and
60 percent were not.
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