Navigant Research sees building automation market growing to reach $102 billion in 2025
Written By: Stratton Report
September 29, 2016
On September 29, Navigant Research announced its prediction that commercial building automation product and services revenue is expected to grow from $67.1 billion in 2016 to $102.0 billion in 2025.
Strategically, according to Navigant Research, the commercial BAS market is at a crossroads. While large technology companies that have provided equipment and services for the control and automation of building systems continue to see moderate but consistent growth in a mature market, emerging competitors threaten to upset the sustained revenue growth tied to the industry via technology innovation and new business models.
Casey Talon, principal research analyst with Navigant Research observed:
“BAS hardware infrastructure and communications networks improve the operations of complex commercial systems. The rise in intelligent building software and services, and open communications protocols represents a source of disruption to the traditional BAS market, creating a new competitive reality.”
Major BAS vendors recognize this market evolution with the result that there will be an increasingly dynamic landscape of diverse offerings during a time when many customers are looking to comply with building codes, save on utility costs, and meet sustainability objectives.