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Building Automation and Controls Market to Reach $215.59 Bn, Globally, by 2027 at 11.10% CAGR: Says AMR

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PORTLAND, Ore., Jan. 25, 2021 /PRNewswire/ -- Allied Market Research published a report, titled,
"Building Automation and Controls Market By Product Type (HVAC Control, Lighting Control, and Security & Access Control), Offering (Integration and Services), and Industry Vertical (Residential, Enterprise, Industrial, Hospitality, Retail, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027" According to the report published, the global building automation and controls industry was estimated at $101.91 billion in 2019 and is expected to hit $215.59 billion by 2027, registering a CAGR of 11.10% from 2020 to 2027.
Prime determinants of the market
Surge in demand for convenient user experience, rise in deployment of building automation systems, and growth in need for advanced energy-efficient interventions drive the growth of the global building automation and controls market. On the other hand, lack of interoperability hampers the growth to certain extent. However, development of smart cities in emerging economies and government initiatives are anticipated to present numerous opportunities for the market players in the approaching time.

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