The Latin America, Middle East and Africa Intelligent Building Automation Technologies Market would witness market growth of 9.9% CAGR during the forecast period (2019-2025).
Building Automation Systems (BAS) combines lighting, energy, safety and security systems into an integrated system that balances optimum performance with productivity and comfort for the occupant. Growing recognition among the population of life safety and security is expected to promote market growth. People are aware of financial losses caused by natural or man-made calamities, like floods, terrorist attacks, earthquakes, or construction fires.
Escalating need for enhanced security and safety in intelligent buildings is also anticipated to contribute significantly to the growth of IBAT market. It is expected that the adoption of various building automation protocols, the development of open-ended architecture, easy access to technological developments and the implementation of smart BAS in residences will support large-scale industrial growth. Intelligent building automation technologies assess and monitor the viability, comfort, and productivity performance of buildings. These technologies are also used for micro-grid management in residences. However, in the forecast period, lack of awareness among end users and high initial investments may present a growth obstacle. Technical difficulties related to the application of intelligent building automation technology may also impede market growth.
Based on Solution type, the market is segmented into Hardware, Software and Services. Based on Product, the market is segmented into Facility Management, Security Systems, Building Energy Management Systems and Life Safety Systems. Based on the Application, the market is segmented into Commercial, Residential and Industrial. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Intelligent Building Automation Technologies Market in LAMEA is expected to register a CAGR of 9.9% during the forecast period (2019-2025)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include United Technologies Corporation, Honeywell International, Inc., Schneider Electric SE, Siemens AG, Johnson Controls International Plc., Ingersoll-Rand Plc., ABB Group, Azbil Corporation, Eaton Corporation Plc., General Electric (GE) Co. and Hubbell, Inc.
Market Segmentation:
By Solution Type
By Product
By Application
By Country
Companies Profiled
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