CANADA, July 7: According to recently released TechSci Research report, "
India Building Automation & Control Systems Market Forecast & Opportunities, 2020", building automation & control systems market in
India is projected to grow at a compound annual growth rate (CAGR) of more than 22 percent during 2015-20. The market is anticipated to exhibit robust growth on account of rising security concerns and growing efforts of commercial and IT/ITeS sectors to minimise their operational costs. In addition, high net worth individuals in the country are increasingly employing building automation & control systems in villas and luxury apartments, thereby contributing to growth in the market.
Players such as Honeywell, Siemens, Schneider Electric and Johnson Controls are major suppliers of building automation & controls systems in
India. These companies operate through a series of system integrators and suppliers, in addition to in-house manufacturing. In terms of revenue contribution, IT/ITeS segment accounted for majority share in building automation & control systems market in
India in 2014, followed by the commercial sector. Moreover, educational institutes and luxury hotel chains are also emerging as opportunity areas for companies operating in the market, as these segments are increasingly deploying electronic security and lighting systems in their premises.
"In India, Building Automation & Control Systems (BACS) market is highly fragmented, and is driven by a number of system integrators engaged directly or indirectly with leading players such as Honeywell, Siemens and Schneider Electric. The market is anticipated to witness significant growth over the next five years, primarily on account of modernisation of government offices, upcoming smart city projects, and rising demand from commercial complexes in the country.", said
Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
