Building Automation Systems Market Share

On the basis of geographical analysis, the global building automation systems industry is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the surging industrial and construction activities, and high economic growth in the region. In addition, government initiatives regarding energy conservation is also a crucial factor expected to accelerate the region’s market growth in the coming years. Moreover, the market in North America is predicted to acquire the largest share during the forecast period owing to the ongoing technological developments, high adoption of building automation systems, and presence of prominent market players in the region. Moreover, the increasing demand for commercial building automation in the United States, backed by the surge in awareness for the numerous benefits associated with the adoption of automation systems, and the surge in the number of commercial buildings in the country, is also predicted to remarkably drive the market growth in the region. According to the data by the U.S. Energy Information Administration (EIA), in the year 2018, the number of commercial buildings crossed 6 million, registering an annual growth of 6% across the country.