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India Building Automation and Control Systems Market Forecast and Opportunities, 2020
Tuesday, November 17, 2015 22:11
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Growing concerns regarding greenhouse gas emissions and increasing electricity demand supply gap are driving the Building Automation and Control Systems (BACS) market in India. The BACS market is broadly segmented into Heating, Ventilation and Air Conditioning (HVAC); Lighting Controls; Electronic Security and Safety; and Energy Management Systems. Demand for BACS in India is majorly driven by commercial building segment on account of increasing number of shopping malls, IT/ITeS office buildings, educational institutes, etc. The market is further supported by mandatory energy efficiency regulations and other regulations implemented by the government such as LEED rating scheme and BEE star rating scheme.
According to India Building Automation and Control Systems Market Forecast & Opportunities, 2020, the countrys building automation and control systems market is forecast to grow at a CAGR of more than 22% during 2015-20. Electronic security and safety segment accounted for the largest market share in 2014, followed by HVAC and lighting controls. Increasing demand for intrusion detection systems, intercom and closed circuit televisions (CCTV) is expected to further increase the market share of electronic security and safety segment in the coming years. In 2014, northern region accounts for the largest share in the countrys BACS market, followed by southern and western regions.
