Commercial application acquired the largest market revenue share in the United Kingdom building automation systems market– 6Wresearch
United Kingdom building automation systems market witnessed a decline in 2020 as a result of the pandemic crisis induced by Covid-19, which halted construction activities due to restrictions on cross-border trade and people movement. This resulted in a general slowdown in the country's economy, which had a negative influence on market revenues in 2020. With the slow resumption of economic activities after 2020, supply chains have been returning to normalcy, and construction activities have resumed, all of which would benefit the UK building automation systems market in the coming years.
According to 6Wresearch, United Kingdom Building Automation Systems Market size is projected to grow at a CAGR of 10.5% during 2021-2027. The building automation systems market in the country is expected to grow significantly in the coming years owing to rising electricity demand, increasing technological applications in industries, and increasing government initiatives aimed at promoting residential development and green infrastructure, such as "build, build, build," "Green Homes Grant Scheme," "IoT 'Security by Design' Law," "Industry 4.0," among others. Furthermore, the UK government has set energy efficiency targets for 2021; for instance, the UK housing minister stated that by 2025, all new homes must be more energy-efficient and zero-carbon ready. Such initiatives would encourage the development of green buildings, which would increase demand for building automation systems due to their energy efficiency and low environmental effect.
According to Chhavi Malpani, Assistant Manager, 6Wresearch, “By control technology, wired technology-based building automation systems held the majority of the revenue share in 2017-2020 across the country owing to high residential and commercial consumer preference as a result of reliability, security, and ease in repairing. However, on the back of cost-effectiveness and lower maintenance along with the rising adoption of IoT platforms, the market revenue size of wireless technology is anticipated to grow at a faster pace in the coming period.”
According to Bhawna Singh, Research Analyst, 6Wresearch, “By application, commercial segment accounted for the majority of the revenue share in 2020 and the same trend is expected to follow in the upcoming years as well on account of growing infrastructure programs including the development of hotels, hospitals, expansion of commercial spaces, among others.”
Some of the major companies in United Kingdom building automation systems market include Siemens AG, Johnson Controls Inc., WAGO GmbH & Co. KG, Beckhoff Automation GmbH & Co. KG, Schneider Electric SE, and Honeywell International Inc.
“United Kingdom building automation systems market (2021-2027)” report provides an in-depth analysis with 23 figures and 08 tables, covered in 89 pages. The report estimates and forecast the overall United Kingdom building automation systems market by products, control technology, applications, distribution channels, and business types. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
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