The building automation market was valued at $68.5 billion in 2010, an amount which grew to $71.5 billion in 2011. Market growth is expected to increase further at a compound annual growth rate (CAGR) of 4.3% between 2011 and 2016, to reach a total market value of $92.2 billion.
Technology within the building automation market ties all of the different elements (e.g., building management systems; heating, ventilation, and air-conditioning (HVAC); energy management; lighting; security) into a cohesive whole.
The building automation market is in the midst of revolutionary change in terms of technology and relevance to global energy management.
From the 1970s until the mid-1990s, modern building automation consisted of individual systems with simple control panels for switches, timers, and alarms. Today's systems, however, are designed to perform much more complex tasks and play a central role in efficiency
Segment wise, the heating, ventilation, and air-conditioning (HVAC) sector was valued at $34.6 billion in 2011. A market value which is expected to grow at a CAGR of 3.9%, reaching $41.8 billion in 2016.
The market for lighting products was worth $15.2 billion in 2011, and is expected to reach $18.9 billion by 2016, at a CAGR of 4.5%.
For more information on the building automation market, see the latest research: Building Automation Market Report
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