Global Revenues for Commercial Building Automation Systems Will Reach $146 Billion by 2021, Forecasts Pike Research
According to a new report from Pike Research, the market for commercial building automation systems will double over the next decade, increasing from $72.5 billion in 2011 to $146.4 billion by 2021.
BOULDER, Colo., Feb 07, 2012 (BUSINESS WIRE) -- Because commercial buildings consume roughly 23% of all electricity globally, the automation systems that ensure efficient performance are a critical part of energy management. Until the mid-1990s, modern building automation consisted of little more than individual systems with simple control panels for switches, timers, and alarms. Today, the market for commercial building automation systems is in the midst of revolutionary change in terms of technology and utility. In the last several years, the focus has shifted from an individual system view to a more holistic view so that the "building system" can be defined to include virtually any device or data source within the building. The amount of data created by automation systems can be overwhelming, but real competitive and economic value exists in using the data to monitor performance and uncover trends. According to a new report from Pike Research, the market for commercial building automation systems will double over the next decade, increasing from $72.5 billion in 2011 to $146.4 billion by 2021.
"Automation systems have long provided the core technologies to ensure that buildings are safe and energy-efficient," says research analyst Eric Bloom. "Recent advances in automation technology, particularly relating to their integration with information and communication technologies, are dramatically increasing system capabilities and enabling deeper levels of energy management than ever before, thereby generating a surge in demand."
This surge is being driven by two important trends that are transforming the building industry. The first is aggressive energy efficiency goals within the building stock, which is undergoing tremendous growth, particularly in developing Asia Pacific nations. Second is the fact that building automation controls and field devices, which communicate via a range of protocols such as BACnet and LonWorks, are starting to be fitted with Internet Protocol capability so as to utilize the same protocols and infrastructure equipment as the IT network. As a result, the silos that IT, property management, software, and traditional BASs occupied within companies are disappearing.
Pike Research's report, "Commercial Building Automation Systems", analyzes the global market for commercial building automation and management systems including security and access, HVAC controls, fire and life safety, building management systems, and lighting controls. The study examines current market conditions along with an assessment of the competitive landscape and technology issues that will affect the adoption and success of these systems. Market forecasts through 2021 are provided for seven global regions and five key market segments. An Executive Summary of the report is available for free download on the firm's website.
Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. The company's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. For more information, visit www.pikeresearch.com or call +1.303.997.7609.
SOURCE: Pike Research