Global substation automation market size was valued at $106,891 million in 2015 and is expected to reach $154,876 million by 2022, growing at a CAGR of 5.5%
Electric Taps Market is Expected to Rise $631.0 million by 2027, openpr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from openpr.com Daily Mail and Mail on Sunday newspapers.
Share this article
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