According to a research report "BuildingAutomation System Market with COVID-19 Impact by CommunicationTechnology, Offering (Facility Management Systems, Security and AccessControls, and Fire Protection Systems), Application, Region - Global Forecast to 2026", published by MarketsandMarkets, the global buildingautomation system market size is projected to grow from USD 73.5 billion in 2021 to USD 112.1 billion by 2026; it is estimated to grow at a CAGR of 8.8% during the forecast period. The growth of the building automation system market is fueled by the increasing requirement of energy-efficient facilities with enhanced security systems. Besides this, advancements in wireless communication technologies have lessened the complexity and the cost of installing building automation systems in the existing buildings.
Browse 209 market data Tables and 53 Figuresspread through 233 Pages and in-depth TOC on "BuildingAutomation System Market - Global Forecast to 2026"
[233 Pages Report] The global buildingautomation system market size is projected to grow from USD 73.5 billion in2021 to USD 112.1 billion by 2026; it is estimated to grow at a CAGR of 8.8% during the forecast period. The growth of the building automation system market is fueled by the increasing requirement of energy-efficient facilities with enhanced security systems. Besides this, advancements in wireless communication technologies have lessened the complexity and the cost of installing building automation systems in the existing buildings.
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COVID-19 Impact on the Building Automation System Market
Before COVID-19, real estate investments generated stablecash flow and returns for players operating in this sector globally. However,the outbreak and the spread of the COVID-19 led to quick changes in this scenario, with the real estate sector witnessing significant impact of the virus. The real sector in the US, Europe, and APAC has been impacted significantly by the pandemic. This has affected the growth of the building automation system market as these geographies are the largest consumers of building automation systems.
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