Latin America Building Automation System Market Research Report Forecast to 2033
Latin America Building Automation System Market Research Report Forecast to 2033
Market OverviewThe Latin America building automation system market is consistently growing due to the Increase in focus for designing and establishing energy-efficient and eco-friendly buildings equipped with building automation. Furthermore, Integration of IoT with building automation systems is likely to drive the market throughout the forecast year.
The Latin America building automation system market is projected to grow at 8.5% CAGR during the forecast period, 2023–2030. In 2022, the Latin America building automation system market was dominated by Mexico & Brazil with a 30.7% share. Developing countries such as Argentina & Uruguay are projected to showcase substantial growth throughout the forecast period.
Market SegmentationThe Latin America building automation system market has been segmented based on component, type, network connectivity, building size, application, and country. Based on component, the market is segmented into hardware, software, and services.
Based on type, the Latin America building automation system market has been segmented into light control system, HVAC control system, surveillance system, fire protection system, access control system, facility management system, and others.
Based on network connectivity, the Latin America building automation system market has been segmented into wired, and wireless. Based on building size, the Latin America building automation system market has been segmented into small buildings, mid-sized buildings, and large buildings.
Based on application, the Latin America building automation system market has been segmented into residential, commercial, industrial, government, and religious places.
Major PlayersThe key vendors in the market are ABB, Bosch Building Technologies GmbH, Siemens Building Technologies, MSA Safety, WAGO GmbH & Cog, WETRON, Emerson Electric Co., Hitachi, Hubbell Incorporated, Beckhoff, Legrand, Lutron Electronics Inc., Daikin Industries Ltd, Mitsubishi Electric, Priva, Honeywell International Inc., Johnson Controls, Phoenix Contact, and Schneider Electric.