Global Intelligent Building Automation Technologies Market Size to Exceed $100 Billion by 2025

According to the recent "Global Intelligent Building Automation Technologies Market (2019-2025)" report from ResearchAndMarkets.com, the Global Intelligent Building Automation Technologies Market size is expected to reach $103.7 billion by 2025, rising at a market growth of 7.3% CAGR during the forecast period.

Intelligent buildings use 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. 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 core comforting and sustainable way. Due to this, 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.

Based on solution type, the market is segmented into hardware, software and services. Intelligent building automation technologies are an integrated software and hardware network that manages and monitors the environment of building facilities. Various hardware devices used include actuators, controllers, and sensors. Collectively, these devices guarantee that HVAC systems are properly managed by automated control and that the building climate stays within an acceptable range.

Based on product, the market is segmented into facility management, security systems, building energy management systems and life safety systems. Based on the application, the market is segmented into commercial, residential, and industrial.

The major strategies followed by the market participants are product launches and partnerships & collaborations. Based on the analysis presented in the Cardinal matrix, ABB Group, Eaton Corp., United Technologies Corp., Honeywell International, Inc., and Siemens AG are some of the forerunners in the Intelligent Building Automation Technologies (IBAT) Market. The market research report covers the analysis of key stake holders of the market.

Recent strategies deployed in Intelligent Building Automation Technologies (IBAT) Market

Collaborations, Partnerships, and Agreements:

August 2019: Johnson Controls came into partnership with Patriot One, a developer of PATSCAN multi-sensor covert threat detection platform. Through this partnership, Johnson Controls is expected to integrate PATSCAN multi-sensor covert threat detection platform to its overall security system deployment projects.
July 2019: Eaton signed a partnership agreement with Mobile Automation in which Eaton will offer its advanced automation solutions to the clients of Mobile Automation. This partnership helps Eaton in expansion of its footprint for system integration across Mobile Automation's customers.
April 2019: Johnson Controls signed an agreement with Microsoft and Bee'ah in order to enhance Bee'ah's new headquarters in Sharjah. In this agreement, Johnson Controls and Microsoft will work together for providing smart building solutions in UAE that outfits the new building with intelligent edge systems, software, and devices.

Product Launches:

November 2019: Eaton released new Scantronic grade 2 and 3 panels, both compatible with SecureConnect, a smart security management system for commercial and residential buildings. It delivers smart security control and convenience and ensures that the system users and installers remain secure.
September 2019: ABB launched a new open API platform to develop the potential for the new era of smart home automation. This platform helps in delivering the full electric appliance integration to partners and developers in professional smart home sector.
September 2019: Honeywell announced the launch of the next generation of Enterprise Building Integration (EBI), Command and Control Suite (CCS), and Digital Video Manager (DVM) solutions. Through this, the company enhanced its cybersecurity solutions for protecting the companies against cyberattacks on network systems, data, and buildings infrastructure.
July 2019: Hubbell Lighting launched SpectraClean luminaires, which combine HINS Technology with Integrated Wireless Controls. This luminaire offers visible light disinfection technology for industrial and commercial markets.
June 2019: Honeywell introduced Honeywell Forge for Buildings, a solution that helps business operators owners in decreasing operating expenses, improving energy consumption, and managing the space optimization across the building portfolio.
January 2019: Johnson Controls released Metasys 10.0, a solution for delivering unified building management solutions. This solution provides smarter building automation, new integrations with fire detection, faster responses to critical alarms, and security & lighting systems.

Expansions:

Aug-2019: Azbil opened a new production unit at its main factory near Shonan city in Japan. This new production unit is expected to be the part of 'mother factory'. This new unit is aimed at consolidating the domestic factories in order to create and advanced production network, which brings humans, machines, and processes together.

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