Friday, Mar 29 2024 | Time 05:13 Hrs(IST)
image
Business Economy


Frost & Sullivan Reveals Innovative Technologies to Revolutionize the Global Building Automation Systems Market

Integration of operational technology with information technology will continue to influence the dynamics of this market
SANTA CLARA, California, Aug. 10, 2020 /PRNewswire/ -- Frost & Sullivan's recent analysis, Global Building Automation Systems (BAS) Market, Forecast to 2026, reveals that energy-efficiency requisites, energy conservation and favorable government initiatives, rising energy prices, and strict building codes are prominent factors driving the global BAS market. The market is estimated to reach $5.91 billion by 2026 from $4.69 billion in 2019, growing at a compound annual growth rate (CAGR) of 3.4%. However, the market will be restrained by the COVID-19 pandemic in the short term, as some construction projects commissioned by companies and/or governments face delays or cancellations.
Photo - https://mma.prnewswire.com/media/1226077/Building_Automation.jpg
For further information on this analysis, please visit: http://frost.ly/4be
"Buildings, infrastructure, and energy will remain the core investment areas for smart city development, which is further expected to drive the demand for advanced and efficient BAS systems," said Neha Tatikota, Energy and Environment Research Analyst at Frost & Sullivan. "Additionally, partnerships and collaborations are becoming increasingly important, as suppliers of all sizes seek to offer a comprehensive, end-to-end market segment solution."
Tatikota added, "Integration of operational technology (OT) control network with information technology (IT) will continue to change the dynamics of the BAS market because this will reduce operating and infrastructure costs and improve the financial optimization of buildings. Further, the adoption of deep learning and machine learning (ML) algorithms for developing voice-over technology and advanced features will be crucial innovation areas for next-generation BAS solutions."
Leveraging the potential of the mixing and matching of BAS products to make them more versatile, compact, and innovative will present tremendous growth opportunities for market participants in:
Internet of Things (IoT)-enabled solutions: Emerging IoT-enabled building automation suppliers need to partner with reputed and reliable system integrators for higher penetration into geographies and to expand their customer base.
Intelligent Platform-as-a-service (PaaS) solutions: Market participants should focus on customer friendliness and flexible business models to build automation services via platform-based solutions.
Innovation scouting: The most dynamic innovation areas in the BAS space are Big Data, IoT, cloud, AI, and ML algorithms. Companies should scout for such innovative solutions (for partnership, collaboration, or acquisition), especially in the start-up community.
Integration of product lines: Product integration is another critical growth opportunity that needs to be leveraged to its full potential to introduce efficient products in the market.
Global Building Automation Systems (BAS) Market, Forecast to 2026 is the latest addition to Frost & Sullivan's Energy and Environment research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
About Frost & Sullivan
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Global Building Automation Systems (BAS) Market, Forecast to 2026
MF31
Media Contact:
Priya George
Corporate Communications
M: +91 98403 55432; P: +91 44 6681 4414
E: [email protected]
http://ww2.frost.com

(Disclaimer--Features may vary depending on the regions; subject to change without notice.)
More News
India's core sector output rises to three-month high of 6 7 pc in February

India's core sector output rises to three-month high of 6 7 pc in February

28 Mar 2024 | 7:51 PM

New Delhi, Mar 28 (UNI) Driven primarily by coal, cement and crude oil production, India's core sector comprising of eight key infrastructure components grew 6.7% year-on-year in February 2024, as per data released by Ministry of Commerce and Industry on Thursday.

see more..

Honda Motorcycle & Scooter India achieves historic 6 cr domestic sales milestone

28 Mar 2024 | 7:19 PM

Mumbai, Mar 28 (UNI) Honda Motorcycle & Scooter India (HMSI) announced on Thursday that it has accomplished a historic achievement of 6 crore domestic sales in India. Honda ventured into the Indian market with its first two-wheeler, the Activa, in 2001.

see more..

28 Mar 2024 | 5:28 PM

UNI NK AKS.

see more..
Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

28 Mar 2024 | 5:16 PM

Rudrapur, Mar 28 (UNI) From power Back-up solutions to Batteries and Solar applications, Luminous Power Technologies on Thursday announced the launch of its state-of-the-art solar panel manufacturing facility here.

see more..

Kottayam-Kochi Rubber Market rates

28 Mar 2024 | 5:04 PM

Kottayam, Mar 28 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Thursday per quintal.

see more..
image