Intelligent building automation system (BAS) enables the user to monitor and control their building performance. It helps in enhancing efficiency and performance of energy utilization in buildings, allows managing lighting and HVAC devices. It also helps in reducing the operating costs and energy usage. The solutions provide ventilation, heating, lighting management, air conditioning management, digital energy networks, building data analytics, automated fault detection, micro-grid management, and automated demand response.
BAS solutions enhance management activities of the entire building through easy to use and simple software interfaces that can be accessed using smartphones, tablets, and laptops irrespective of the access location. All these features help in efficient management of a building. Focus on eliminating CO2 emissions, reducing operating costs of the systems, various initiatives taken by governments, benefits for real estate developers, growth prospect for developers, and high return on investment for the end users are factors expected to drive the global market.
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Increasing need for enhanced security and safety in intelligent buildings is also expected to considerably fuel market growth. Adoption of various protocols of building automation, development of open-ended architecture, providing technological information, implementation of intelligent building systems in residential buildings are expected to support market growth on a large scale. However, unavailability of skilled labor, lack of awareness among the end users, lack of promotions, and high initial investments may pose a challenge for market growth in the forecast period. Commoditization of the systems and development of comprehensive valuation model may act as market opportunities for the market players. Misaligned regulations and lack of uniformity in the implementation of technology have been the major issues in the market growth.
Physical security systems, life safety systems, and facilities management systems are the major product segments of the intelligent building automation technologies market. Life safety systems segment is expected to witness the fastest growth over the forecast period due the presence of various features such as emergency service during fire and earthquakes; whereas demand for physical security systems is expected to grow on a large scale, followed by facilities management system. Facilities management systems are expected to be the largest contributor to this market.
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