Technavio has been monitoring the building automation software market and it is poised to grow by USD 16.93 billion during 2020-2024, progressing at a CAGR of over 13% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Building Automation Software Market 2020-2024 (Graphic: Business Wire).
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Frequently Asked Questions:
Based on segmentation by product, which is the leading segment in the market?
What are the major trends in the market?
Increasing integration of IoT with building automation software.
At what rate is the market projected to grow?
The market is projected to grow at a CAGR of over 13% during 2020-2024.
Who are the top players in the market?
Advantech Co. Ltd., Cisco Systems Inc., Crestron Electronics Inc., General Electric Co., Hitachi Ltd., Honeywell International Inc., Johnson Controls International Plc, Mitsubishi Electric Corp., Schneider Electric SE, and Siemens AG are the top players in the market.
What are the key market drivers and challenges?
The market is driven by the presence of Stringent government regulations to lower energy consumption. However, high switching and installation costs might hamper market growth.
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Advantech Co. Ltd., Cisco Systems Inc., Crestron Electronics Inc., General Electric Co., Hitachi Ltd., Honeywell International Inc., Johnson Controls International Plc, Mitsubishi Electric Corp., Schneider Electric SE, and Siemens AG are some of the major market participants. Stringent government regulations to lower energy consumption will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Building Automation Software Market 2020-2024: Segmentation
Building Automation Software Market is segmented as below:
- BMS Software
- Standalone Building Automation Software
- North America
- South America
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Building Automation Software Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The building automation software market report covers the following areas:
- Building Automation Software Market Size
- Building Automation Software Market Trends
- Building Automation Software Market Industry Analysis
This study identifies the increasing integration of IoT with building automation software as one of the prime reasons driving the Building Automation Software Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Building Automation Software Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist building automation software market growth during the next five years
- Estimation of the building automation software market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the building automation software market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of building automation software market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- BMS software – Market size and forecast 2019-2024
- Standalone building automation software – Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Commercial – Market size and forecast 2019-2024
- Industrial – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers – Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Advantech Co. Ltd.
- Cisco Systems Inc.
- Crestron Electronics Inc.
- General Electric Co.
- Hitachi Ltd.
- Honeywell International Inc.
- Johnson Controls International Plc
- Mitsubishi Electric Corp.
- Schneider Electric SE
- Siemens AG
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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