According to the latest market research study by Technavio, the global heating, ventilating, and air conditioning control systems market is expected to grow at a CAGR of close to 9% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global HVAC control systems market regarding revenue and emerging market trends. The report also includes a competitive vendor analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the component
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The top three revenue contributing component segments are discussed below:
Global HVAC control systems market by sensors: Sensors are expected to post the fastest growth among all HVAC system components during the forecast period. Temperature sensing and control is widely used in the HVAC control systems mainly due to the need for controlling the initial parameter in an HVAC system.
“Adoption of advanced sensors in developed countries such as the US and the UK along with technological developments is expected to fuel the growth of sensors market during the forecast period. Moreover, the increasing investment in sensor technology by vendors such as Siemens, Honeywell International, Johnson Controls, and Schneider Electric, along with diversification of advanced sensor applications will contribute to the market growth during the forecast period,” says Bharath Kanniappan, a lead analyst at Technavio for research on automation.
Global HVAC control systems market by controlled devices: Controlled devices is expected to observe an increase in market revenue during the forecast period. Smart home automation is driving the market with advanced controlled devices being developed by vendors in the market. The emergence of smart thermostats for the residential building will enable enhancement of home automation system to incorporate advanced and communicating devices.
Global HVAC control systems market by controllers: Advancements in controllers is driving the market towards cloud-based systems where the user can effectively regulate building automation system using connected devices. Controllers that are installed in buildings can manage the HVAC equipment directly through standalone controllers or indirectly by using networked controllers.
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The top vendors operating in the global HVAC control systems market are:
- Honeywell International
- Johnson controls
- Schneider Electric
- ABB
- Cylon
- Trane
A more detailed analysis is available in the Technavio market research report titled, ‘Global HVAC Control Systems Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global HVAC Air Ducts Market 2017-2021
- Global Automotive HVAC Market 2016-2020
- Global HVAC Insulation Market 2016-2020
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