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Global Building Automation Software Market Analysis Highlights the Impact of COVID-19 | Stringent Government Regulation to Lower Energy Consumption to Boost Market Growth | Technavio


Technavio has been monitoring the global building automation software market and it is poised to grow by USD 16.93 billion during 2020-2024, progressing at a CAGR of over 13% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio's in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts

The market is concentrated, and the degree of concentration will accelerate during the forecast period. Advantech Co. Ltd., Cisco Systems Inc., Crestron Electronics Inc., General Electric Co., Hitachi Ltd., Honeywell International Inc., Johnson Controls International Plc, Mitsubishi Electric Corp., Schneider Electric SE, and Siemens AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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The stringent government regulation to lower energy consumption has been instrumental in driving the growth of the market. However, the high switching and installation costs might hamper building automation system market growth.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Building Automation Software Market 2020-2024: Segmentation

Building Automation Software Market is segmented as below:

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44182

Building Automation Software Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The building automation software market report covers the following areas:

This study identifies the increasing integration of IoT with building automation software as one of the prime reasons driving the building automation system market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.

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Building Automation Software Market 2020-2024: Key Highlights

Table of Contents:

Executive Summary

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by End-user

Customer Landscape

Geographic Landscape

Market Drivers ? Demand led growth

Market Challenges

Market Trends

Vendor Landscape

Vendor Analysis

Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


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