Posted On: 2021-10-08
By Applications, commercial sector acquired the largest market revenue share in the overall Germany Building Automation Systems market – 6Wresearch
Germany Building Automation Systems market has witnessed growth due to increasing infrastructure development along with rising demand for green buildings in the country. Commercial and industrial sector has emerged as a prominent contributor to Germany building automation systems market. However, the outbreak of Covid-19 in 2020 led to halt in construction projects, thereby leading to a decline in demand for building automation systems as the potential opportunities for deployment of building automation systems were hindered. Besides, market is anticipated to recover from 2021 onwards on the back of increased outflow of funds from Local Authority Investment Promotion Fund, recovery packages and investment initiative of Federal Government which is likely to have a stimulating effect on the construction sector thereby creating a demand for building automation in the country.
According to 6Wresearch, Germany Building Automation Systems Market size is projected to grow at a CAGR of 7.7% during 2021-27. Germany has an ambitious energy and climate policy for building sector which aims to have a climate-neutral building stock by 2050. In coming years, Germany plans to promote energy efficiency and renewable energies in building sector and government announced a funding of $7 billion to subsidize building and heating system modernization in 2021. Such initiatives would propel the growth of green buildings which would in turn create a demand for building automation systems owing to its efficient use of energy and minimal impact on environment.
According to Dhaval Chaurasia, Research Associate, 6Wresearch, “By Applications, commercial sector holds the majority of share in the year 2020 owing to increasing investment from the government and push to adoption of green building technologies. Further, after Covid-19, a hybrid of work in office and remote working culture is expected to prevail which would augment the growth of building automation systems market in Germany through commercial and industrial sector in forecast period.”
According to Shivali Sharma, Research Analyst, 6Wresearch, “By control technology, wired technology held the majority share in 2020 in the overall market revenues on account of their high reliability and low security risk. Furthermore, wireless technology is expected to witness significant growth in the Germany building automation systems market during forecast period owing to their easy installation and cost effectiveness coupled with growing adoption of information technology tools such as internet of things and artificial intelligence.”
Some of the major companies in Germany Building Automation Systems market include Siemens AG, Fr. Sauter AG, Johnson Controls, Honeywell International, ABB Limited, Beckhoff Automation.
“Germany Building Automation Systems market (2021-2027)” report provides an in-depth analysis with 25 figures and 9 tables, covered in 87 pages. The report estimates and forecast the overall Germany 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.