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The building automation and control systems market size is forecast to increase by USD 31.11 billion at a CAGR of 8.71% between 2023 and 2028. The market is witnessing significant growth due to the increasing demand for energy efficiency and comfort in both commercial and residential buildings. Facility management systems incorporating safety alarms, security, access management, heating, ventilation, and air conditioning (HVAC) are becoming increasingly popular. Central computer systems with sensors, detectors, relays, and smart electronics are being used extensively to optimize energy usage and enhance occupant comfort. However, the high installation cost is a major challenge limiting market growth. The integration of advanced technologies such as the Internet of Things (IoT) and artificial intelligence (AI) is expected to drive market growth by providing real-time monitoring and automation capabilities.
Furthermore, the use of personnel assistants in residential buildings is also gaining traction, adding to the market's potential. Overall, the market is poised for growth, driven by the need for energy efficiency, comfort, and security solutions in office buildings and other structures.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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