Commercial Building Automation Market
The commercial building automation market is defined as the process and technology used to remotely control and manage the MEP systems in a commercial building. This can include HVAC, lighting, security, fire, and life safety systems. Commercial building automation systems have become increasingly popular in recent years as they provide greater energy efficiency and cost savings potential compared to traditional, stand-alone building systems.
The global commercial building automation market size was valued at USD 23.8 billion in 2019 and is expected to grow at a CAGR of 11.9% from 2020 to 2027. The growing adoption of Internet of Things (IoT) and connected devices in commercial buildings is one of the key factors driving the market growth. In addition, the increasing awareness of energy conservation among organizations is another key factor propelling the demand for commercial building automation solutions.
