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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 c