Connect with us
European Gaming Congress 2024

Artificial Intelligence

Building Automation System Market Predicted to Reach USD 164.4 Billion by 2030, at a CAGR of 10.2% – Report by Market Research Future (MRFR)

Published

on

New York, US, June 01, 2022 (GLOBE NEWSWIRE) — Building Automation System Market Overview

According to a comprehensive research report by Market Research Future (MRFR), “Building Automation System Market Analysis by Network (Wireless, Wired), by End-User (Commercial, Industrial, Residential), by Product (HVAC, Surveillance System, Fire Protection System, Lighting Control System) – Forecast 2030” valuation is poised to reach USD 164.4 Billion by 2030, registering an 10.2% CAGR throughout the forecast period (2021–2030). 

Building Automation Market Report Scope:

In the forecast years, AI adoption for total automation during building construction is expected to provide additional investment opportunities for the building automation system market. The usage of new technology will reduce the strain on the building automation system equipment and aid in obtaining correct results in the shortest amount of time.

Report Metric Details
  Market Size USD 164.4 Billion
  CAGR 10.2%
  Base Year 2020
  Forecast Period 2021-2030
  Historical Data 2019
  Forecast Units Value (USD Billion)
  Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered Network, End-User, Product and Region
  Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors United Technologies Corp., Schneider Electric, Ingersoll-Rand PLC, Robert Bosch, ABB Ltd., Hubbell Inc., Johnson Controls International, Mitsubishi Electric Corporation
  Key Market Opportunities The increasing IT communication methods
  Key Market Drivers The crucial feature in any building automation system is the security video surveillance system

Get a Free Sample PDF Brochure: 

Advertisement

https://www.marketresearchfuture.com/sample_request/2518

Building Automation System Market Segments

The global building automation system market is bifurcated based on end users, product, and network connectivity. 

By network connectivity, wireless will lead the market over the forecast period. 

By product wise, surveillance systems will dominate the market over the forecast period. 

Advertisement

By end users, industrial will spearhead the market over the forecast period. 

Browse Complete Premium Research Report:

https://www.marketresearchfuture.com/reports/building-automation-system-market-2518

Building Automation System Market Regional Analysis 

North America to Command Building Automation System Market 
North America is now dominating the market, accounting for the largest revenue share. The construction sector has increased the amount of automation systems installed in new buildings, which has benefited the market significantly. Furthermore, the region takes pride in incorporating cutting-edge technologies into the system, which is bolstered by excellent infrastructure. Individuals in this region earn more than people in other regions, therefore investment capacity for these homes is relatively large, giving the market a boost. Government rules have been loosened, which is boosting the demand for building automation systems. Because of the growing use of the building automation system in this region’s residential sector, the US is likely to lead the North America market.

Advertisement

 Owing to the large number of prompt adopters in the US and Canada, North America holds the largest proportion of the global market. Due to its developed infrastructure that can handle building automation solutions both in the commercial and residential segments, the region is likely to dominate the global market over the forecast period. Because of the energy-saving benefits given by such systems, governments in this region are leaning toward implementing such smart solutions. The Green Building Council in the US, along with the popular Bank of America Charitable Foundation, conducts the ‘LEED’ initiative, which assists local governments in implementing sustainable solutions. Residential, commercial, & industrial users are adopting amazing energy-saving solutions to deploy building automation controls, and the global building automation systems market in the US has been experiencing significant growth. Various federal policy directives addressing rising energy costs, rigorous rules governing greenhouse gas emissions, & growing awareness of the benefits of automation are all pushing the industry in the United States. Furthermore, the presence of large building automation systems firms, such as Siemens, feeds need for building automation solutions in the region, as does the creation of new concepts and substantial technological breakthroughs. As per the Energy Information Administration in the US, the commercial sector consumes roughly 20% of the country’s energy and emits 12% of the country’s greenhouse gas emissions. Smart buildings (that with a building control system) help the entire community by decreasing waste and conserving energy. Artificial intelligence’s introduction has prompted businesses in the region to use AI to improve their video surveillance devices. This enhances the security and safety of their products. As a result, market growth is likely to pick up in the next years.

Buy this Report:
https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=2518

APAC to Have Significant Growth in Building Automation System Market 
This region is reshaping market demographics and is expected to develop at the quickest rate during the projected period. Emerging economies such as India and China are seeing industrial expansion, creating opportunities for the market to penetrate & establish itself for a brighter future. During the forecast period, the market in this region is expected to develop at the fastest CAGR. Building automation system market expansion in APAC may be ascribed to the region’s economic growth, as well as an increase in construction & industrial activity in the region’s key countries. Consumer’s primary goal is to save money by implementing building automation solutions that save energy. Smart cities are increasingly being developed in countries like China & India. Because of changing consumer preferences for HVAC control systems, China is likely to dominate the Asia-Pacific market, driving up the need for building automation systems. Due to the rapid development of the construction sector in developing nations like India & China, Asia Pacific is likely to grow at the highest CAGR throughout the projection period. In addition, the Asia Pacific region’s market has benefited from increased government energy saving measures.

Drivers 
Growing Need for Smart Building to Bolster Market Growth 
Because of the growing recognition of smart buildings amid customers, the worldwide building automation system market is expected to grow. To save energy and power, smart buildings are built through the building automation system software. The smart building structures are constructed in such a way that they can regulate building activities such as ventilation, air conditioning, heating, security, & many others automatically. Due to the multiple benefits of building automation systems, there is an increasing need for smart buildings that is expected to drive the market in the forecast period.

Lack of Skilled Experts to act as Market Restraint 
The lack of skilled experts, technical drawbacks, and high installation costs may act as market restraints over the forecast period. 

Advertisement

Presence of Various Communication Protocols to act as Market Challenge 
The presence of various communication protocols and high maintenance cost may act as market challenges over the forecast period. 

Ask To Expert:

https://www.marketresearchfuture.com/ask_for_schedule_call/2518  

Dominant Key Players in Building Automation System Market Covered are:

  • ABB Ltd. (Switzerland)
  • Cisco Systems Inc. (U.S.)
  • Robert Bosch GmbH (Germany)
  • Siemens AG (Germany)
  • Crestron Electronics Inc. (U.S.)
  • Delta controls Inc. (U.S.)
  • Rockwell Automation (U.S.)
  • Schneider electric SE (France)
  • General Electric (U.S.)
  • Honeywell International Inc. (U.S.)
  • Lutron Electronics Co. Inc. (U.S.)

COVID-19 Analysis
The COVID-19 epidemic possessed a significant impact on the market. Owing to the spread of the deadly COVID-19 virus at the time of the pandemic, most construction works were halted. Because automation systems are commonly employed in the construction sector, the market suffered as a result of the halt in construction operations. Furthermore, as the unlock means have begun, construction activities have picked up steam, and demand for building automation systems has surged, which is expected to fuel the market following the pandemic.

Related Reports:

Advertisement

Smart Power Distribution System Market Research Report by Component, Application and Region – Forecast 2027

Security Testing Market, By Service Type, Tools, Deployment, Industry Vertical and Region – Forecast to 2027

Collaborative Robots Market, By Payload, By Type, By Components, By Application, By Vertical-Forecast till 2027

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Advertisement

Follow Us: LinkedIn | Twitter


GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

DocPro Limited Announces the Launch of DocLegal.ai

Published

on

docpro-limited-announces-the-launch-of-doclegal.ai

Affordable AI-Powered Legal Solutions
HONG KONG, Sept. 30, 2024 /PRNewswire/ — DocPro Limited, a leading innovator in legal technology, has launched DocLegal.ai, a new platform designed to provide AI-powered legal assistance at an unbeatable price—less than the price of your daily coffee.

DocLegal.ai is a platform that consolidates legal document creation, editing, and review into a single interface. The platform offers the following features:
Custom Document Creation: Users can describe their scenario and receive a tailored legal document.Document Review and Editing: The AI assistant can edit, review, summarize documents, suggest clauses, and highlight potential risks.The platform is designed to provide affordable legal services to small businesses and individuals. It also aims to streamline workflows and automate routine tasks for legal professionals, enabling them to focus on high-value activities.
DocPro Limited has leveraged its experience with DocPro.com, which serves over 50,000 users globally, to develop DocLegal.ai. The company is a graduate of the Cyberport Incubation Program and is currently part of the HKSTP Incubation Program and Google for Startups Cloud Program.
As part of its soft launch, DocLegal.ai is offering exclusive access to the first 500 users for only $2.50  per document. Interested parties can Visit the DocLegal.ai website to sign up.
About DocPro Limited
Founded in 2020, DocPro Limited is a leader in the legal tech space, committed to enhancing the delivery of legal services through innovative AI-powered solutions. With platforms like DocPro.com and DocLegal.ai, DocPro empowers users to create and manage legal documents with unparalleled efficiency and precision. For more information, visit DocLegal.ai.
DocLegal.ai is poised to become an indispensable tool for anyone seeking reliable, efficient, and affordable legal documentation, reinforcing DocPro’s position as a pioneer in legal technology.
Media Enquiries: 
Kim [email protected]

View original content:https://www.prnewswire.co.uk/news-releases/docpro-limited-announces-the-launch-of-doclegalai-302260129.html

Continue Reading

Artificial Intelligence

Amagi and Phenix Partner to Bring Next-Gen Low Latency and Seamless Ad Insertion for the Ultimate Viewer Experience

Published

on

amagi-and-phenix-partner-to-bring-next-gen-low-latency-and-seamless-ad-insertion-for-the-ultimate-viewer-experience

Bitmovin Complements the Partnership With Its New Player Web X, Guaranteeing Seamless, Crystal-Clear Video Playback
NEW YORK, Sept. 30, 2024 /PRNewswire/ — Amagi, a global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), today announced a partnership with Phenix Real Time Solutions to deliver next-generation FAST (free ad-supported streaming TV) and live events with the lowest latency available in the streaming marketplace. Amagi and Phenix will provide a complete turnkey solution for content owners to achieve real-time streaming with subsecond latency and server-side ad insertion (SSAI). By combining automation, scheduling, real-time streaming, and ad monetization, streaming customers can now deliver a “see it here first” experience, eliminate spoilers from social media, and provide a best-in-class viewing experience for their audiences.

Bitmovin adds a unique element to the mix by ensuring effortless, smooth playback on any browser, regardless of the device. Bitmovin’s open-source plugin system makes integration easy and provides the tools to maintain high-quality playback. The latest update also includes compatibility with Phenix Real-Time SSAI, combining flawless playback with real-time ad insertion.
The direct integration with Phenix now enables Amagi to output content from its Amagi CLOUDPORT automated scheduling and playout system into Phenix’s globally distributed real-time streaming network of over 34 points of presence for real-time delivery to viewers with subsecond latency. Further integration between Amagi’s Ad Tech platform and Phenix’s real-time SSAI capabilities facilitates dynamic and personalized ads while maintaining real-time playback and full compatibility with Bitmovin.
Bill Wishon, Phenix’s Chief Product Officer, stated, “Amagi has established itself as the foremost authority on FAST channel delivery. As a cloud-first company, Amagi has built itself into a pioneer in cloud technology for broadcasting and OTT. We are thrilled to join forces with them in delivering these innovative solutions.”
“Working with Phenix, the leader in real-time, scalable streaming delivery, allows Amagi to offer clients a full solution, including the industry’s first server-side ad insertion in real time. We can’t wait to see how customers deploy these workflows for next-generation OTT streaming,” said Richard Perkett, Chief Product Officer at Amagi.
Amagi provides a complete suite of channel creation, distribution, and monetization solutions. The company’s clients include some of the world’s biggest names, including A+E Networks UK, ABS-CBN, Astro, Cox Media Group, DAZN, Globo, Lionsgate Studio, NBCUniversal, Tastemade, and VIZIO.
Representatives from all the companies will be attending Amagi’s LA FAST 2024 conference on Oct. 1. More information is available at www.amagi.com/events/la-fast.
About Amagi
Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute, and monetize live linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24×7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 800+ content brands, 800+ playout chains, and over 5,000+ channel deliveries on its platform in over 150 countries. Amagi has a presence in New York, Los Angeles, Toronto, Mexico City, London, Paris, Sydney, Seoul, and Singapore, broadcast operations in New Delhi, and innovation centers in Bengaluru, Zagreb, and Łódź.
About Phenix
As the leader in delivering interactive video at scale, Phenix powers innovative digital experiences that drive acquisition, engagement and retention for some of the world’s biggest brands. Its patented technology is essential for delivering content in real-time that engages audiences with interactive experiences and generates revenue for sportsbooks, sports and gaming properties as well as broadcasters with real-time video streaming to global audiences at broadcast scale. Trusted with streaming video for world-class events like The Oscars, Cheltenham Festival and the Super Bowl, Phenix brings proven experience delivering video to mass audiences for the world’s largest events.
Phenix is headquartered in Chicago, Illinois, with offices in California and Europe. More information is available on the Phenix website or follow them on Twitter and LinkedIn.
About Bitmovin
Bitmovin is the leading provider of video infrastructure for global digital media companies and service providers. The company has been at the forefront of industry innovation and all major developments in the digital video streaming industry. 
Bitmovin built the world’s first commercial adaptive streaming player and deployed the first software-defined encoding service that runs on any cloud platform. Its cloud-native technology offers the most flexible and scalable media encoding, playback, and analytics solutions available with unparalleled device reach, ease of integration, and world-class customer support.
Bitmovin customers benefit from optimized operations, reduced time-to-market, and the best viewer experience possible. Bitmovin is headquartered in Denver, Colorado, and has major offices in Vienna, Klagenfurt, Austria as well as London and Berlin. The company has over 400 customers across the globe, including ClassPass, BBC, fuboTV, Hulu, and Discovery.
More information is available at www.bitmovin.com
Photo: https://mma.prnewswire.com/media/2519499/Amagi_and_Phenix_partner.jpg
 

View original content:https://www.prnewswire.co.uk/news-releases/amagi-and-phenix-partner-to-bring-next-gen-low-latency-and-seamless-ad-insertion-for-the-ultimate-viewer-experience-302262768.html

Continue Reading

Artificial Intelligence

SEMI Consortium to Develop Cybersecurity Strategy and Roadmap for the Semiconductor Industry in NIST Framework

Published

on

semi-consortium-to-develop-cybersecurity-strategy-and-roadmap-for-the-semiconductor-industry-in-nist-framework

MILPITAS, Calif., Sept. 30, 2024 /PRNewswire/ — Seeking to strengthen the semiconductor industry’s resilience to cybersecurity threats, the global association SEMI today announced the creation of a strategic roadmap for cybersecurity implementation throughout the industry. The SEMI Semiconductor Manufacturing Cybersecurity Consortium (SMCC) has partnered with the National Institute of Standards and Technology (NIST) to develop a semiconductor manufacturing industry profile for NIST Cybersecurity Framework 2.0 (CSF 2.0) that will serve as the foundation for the aforementioned roadmap. NIST plans to publish the profile in mid-2025. 

According to research by the Identity Theft Resource Center, cyberattacks rose by 72 percentage points in 2023 over the previous all-time high in 2021. As semiconductor factories become increasingly connected and autonomous, the industry must respond to the growing security vulnerabilities associated with this next level of digital reliance and align with broader government efforts to secure the building blocks of technologies vital to society.
“Semiconductors are integral to both national security and the global economy – we need to do everything in our power to protect the industry,” said Cherilyn Pascoe, Director of the National Cybersecurity Center of Excellence (NCCoE) at NIST. “NIST is pleased to partner with SEMI SMCC for the development and adoption of a NIST Cybersecurity Framework 2.0 Profile for Semiconductor Manufacturing. This collaboration is important to identify and reduce cybersecurity challenges in semiconductor manufacturing.”
“It’s important to recognize and address the unique cybersecurity challenges facing the semiconductor industry,” said Jennifer Lynn, SMCC Working Group Chair and Semiconductor Cybersecurity Lead at IBM Research. “This community profile could allow us to better identify and execute a path forward.”
In support of the 2023 National Cybersecurity Strategy’s strategic objective to secure global supply chains for information, communications and operational technology products and services, the White House Office of the National Cyber Director (ONCD) included a Cybersecurity Framework Profile as part of initiative 5.5.5 in the National Cybersecurity Strategy Implementation Plan Version 2. SMCC recognized the need for a cybersecurity community profile specific to semiconductor manufacturing and worked with the federal government to develop one.
“Unlike air, space, land, and sea, cyberspace is the only battle domain created entirely by human hands,” said Anjana Rajan, Assistant National Cyber Director for Technology Security at ONCD, during the Global Executive Cybersecurity Forum at SEMICON West 2024. “This means we have both the power and the responsibility to shape it. The future of cyberspace where defenders have an inherent advantage over attackers starts with preparation, and that preparation must begin with securing the building blocks.”
Prior to completion, the community profile will open for public review and commentary in accordance with NIST’s official process. The review period has yet to be announced. The community profile is part of a broader NIST strategy to further standardize cybersecurity protocols for the semiconductor sector, in line with profiles for other industries.
“With the committed resources and support from NIST to support SMCC working groups, we’ll be able to accelerate the development of this semiconductor manufacturing industry community profile creation,” said Brian Korn, Director for SMCC and Staff Technologist focused on Cybersecurity and Automation at Intel Foundry.
SMCC will provide cybersecurity recommendations for semiconductor manufacturing equipment, information on implementation, and updates on the development of the community profile. For more information, visit the project webpage or contact [email protected].
SMCC working groups are engaged with the SEMI Standards program to create a standards-based approach supporting the semiconductor ecosystem by leveraging the program’s 50-year history of industry alignment. SMCC is currently working on developments to two cybersecurity standards:
E187: Specification for Cybersecurity of Fab EquipmentE188: Specification for Malware-Free Equipment IntegrationAbout SMCC 
The Semiconductor Manufacturing Cybersecurity Consortium (SMCC) is a SEMI technology community founded in 2024 to develop and promote a standard based, semiconductor industry wide approach to improve cybersecurity and accelerate implementation of actionable solutions. The vision of SMCC is to strengthen cyber resilience and protection of the global semiconductor supply chain against evolving threats. SMCC’s reach extends all over the world and enables our members to connect and collaborate on specific cybersecurity issues and challenges affecting different regions. It focuses on important key topics and seeks to find solutions that will benefit the entire industry. 
About SEMI
SEMI® is the global industry association connecting over 3,000 member companies and 1.5 million professionals worldwide across the semiconductor and electronics design and manufacturing supply chain. We accelerate member collaboration on solutions to top industry challenges through Advocacy, Workforce Development, Sustainability, Supply Chain Management and other programs. Our SEMICON® expositions and events, technology communities, standards and market intelligence help advance our members’ business growth and innovations in design, devices, equipment, materials, services and software, enabling smarter, faster, more secure electronics. Visit  www.semi.org, contact a regional office, and connect with SEMI on LinkedIn and X to learn more. 
About NIST 
The National Institute of Standards and Technology (NIST) was founded in 1901 and is now part of the U.S. Department of Commerce. NIST is one of the nation’s oldest physical science laboratories. Congress established the agency to remove a major challenge to U.S. industrial competitiveness at the time — a second-rate measurement infrastructure that lagged behind the capabilities of the United Kingdom, Germany and other economic rivals.  
The National Cybersecurity Center of Excellence (NCCoE) under NIST is a collaborative hub where industry organizations, government agencies, and academic institutions work together to address businesses’ most pressing cybersecurity challenges. This public-private partnership enables the creation of practical cybersecurity solutions for specific industries or broad, cross-sector technology challenges. Working with technology partners—from Fortune 50 market leaders to smaller companies specializing in IT security— the NCCoE develops modular, easily adaptable example cybersecurity solutions demonstrating how to apply standards and best practices using commercially available technology. 
About ONCD
The Office of the National Cyber Director (ONCD) advises the President of the United States on cybersecurity policy and strategy. Established by Congress in 2021, ONCD is a component of the Executive Office of the President at the White House. The Office spearheaded the development of the President’s National Cybersecurity Strategy, which President Biden issued on March 2, 2023. ONCD coordinates a whole-of-government approach to implement the National Cybersecurity Strategy.
ONCD’s mission is to advance national security, economic prosperity, and technological innovation through cybersecurity policy leadership. In carrying out its directive, ONCD works closely with White House and interagency partners, as well as with all levels of government, America’s international allies and partners, non-profits, academia, and the private sector, to shape and coordinate federal cybersecurity policy. Guided by the President’s vision, as articulated in the National Cybersecurity Strategy, ONCD is working to create a more equitable, safe, and resilient interconnected world in which every American can thrive and prosper.
Association Contact Samer Bahou / SEMIPhone: 1.408.943.7870Email: [email protected]
Logo – https://mma.prnewswire.com/media/469944/Semi_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/semi-consortium-to-develop-cybersecurity-strategy-and-roadmap-for-the-semiconductor-industry-in-nist-framework-302261926.html

Continue Reading

Trending