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Intelligent Building Automation Technologies Market Size Worth USD 125.74 Billion in 2028 www.emergenresearch.com Rising need for improvement of security and safety in intelligent buildings is driving market revenue growth
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Market Summary The global Intelligent Building Automation Technologies (IBAT) market size is expected to reach USD 125.74 Billion in 2028 and register a revenue CAGR of 7.1% over the forecast period, according to the latest report by Emergen. Rising need for improvement of security and safety in intelligent buildings is driving intelligent building automation technologies market revenue growth. IBAT accentuates a multidisciplinary effort to integrate and optimize the building structures, systems, services, and management in order to create a cost effective and environment-friendly product for the occupants. It provides a flexible, effective, comfortable and secure environment to the owner, operator, and occupant. It offers different kind of smart technologies to ensure the user’s safety and convenience such as functionality checks and detector service for fire and life safety, utility monitoring (electricity/water/gas/oil) for preventing accidents, lighting back-up generation, and others. IBAT is experiencing high demand in international market owing to this. . www.emergenresearch.com
Market Summary • Key Highlights From The Report • In June 2021, Azbil Corporation announced development of new digital solutions utilizing Artificial Intelligence (AI) and big data. The company is receiving the support of Singapore Economic Development Board (EDB) to boost growth of smart city projects in Singapore. This project is expected to drive IBAT market revenue growth in Singapore. • Hardware segment accounted for a significantly large revenue share in 2020 owing to increasing demand for various hardware equipment, such as actuators, sensors, controllers, and others. Multi-layered smart hardware solutions ensure high quality of service and cost-reduction by reducing energy consumption. It also helps in managing Heating, Ventilation and Air-Conditioning (HVAC) systems through automated control. • Commercial segment registered a significantly large revenue share in 2020 owing to rapid adoption of IBAT solutions in large commercial sites. Demand for IBAT systems is growing rapidly among various sites, including industrial zones, shopping malls, offices, and seaports owing to its cost and energy efficiency. Moreover, deployment of intelligent building solution in such commercial areas help in improving spatial management and overall maintenance. • Security systems segment accounted for largest revenue share in 2020 owing to continuous advancement of security system products, such as building and elevator access control, and closed-circuit televisions (CCTVs). This helps in reducing the risk of damage or loss of property. • The market in North America accounted for highest revenue growth in 2020 owing to increasing deployment of smart building technologies for commercial as well as residential use. Various benefits associated with smart building technologies are boosting market demand in this region. • Request Free Sample Copy@ https://www.emergenresearch.com/request-sample/966 www.emergenresearch.com
Market Summary • Emergen Research has segmented global intelligent building automation technologies market on the basis of type, product, application, and region: • Type Outlook (Revenue, USD Million, 2018–2028) • Hardware • Software • Service • Product (Revenue, USD Million, 2018–2028) • Facility Management Systems • Security Systems • Life Safety Systems • Building Energy Management Systems • Application Outlook (Revenue, USD Million, 2018–2028) • Residential • Commercial • Industrial • Read More@ https://www.emergenresearch.com/industry-report/intelligent-building-automation-technologies-market
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