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Global Market for Intelligent Building Automation Technologies Forecast to Increase at 4.9% CAGR%

Reviewed

Aug 8 2014

Research and Markets has announced the addition of the "Intelligent Building Automation Technologies Market by System & Services, IT Technologies & Industry Verticals - Global Advancements, Worldwide Forecast & Analysis (2014 - 2019)" report to their offering.

The market for global intelligent building automation technologies is expected to increase from $58.9 billion in 2014 to $74.8 billion by 2019, registering a CAGR% of 4.9% during 2014-2019. The main forces driving the market are the ability of intelligent buildings to reduce CO2 emissions, reduce maintenance and operating costs and enhance the life of the building as well as improving the safety and security of its occupants.

Intelligent building automation technologies are segmented based on systems, services and information technology. Systems and services are further classified as facility management systems/services, life security systems/services and physical security systems/services. Information technology is classified into computing hardware, computing software, computing and network services and network equipments.

Among all the technologies discussed, energy management technologies are registering a high growth rate followed by emergency response and light management technologies. The increasing concern of global warming and increasing energy consumption by buildings are the major factors due to which intelligent buildings are gaining traction worldwide. North America is leading the global intelligent building automation technologies market with a share of more than 40% in 2014 followed by Europe region, which is having a share of approx 30% in the global intelligent building automation technologies market in 2014.