“The global building automation market is valued at approximately $50 billion and it is expected to grow at a CAGR of more than 10%.

The key market drivers for this growth are the demand for energy-efficient buildings, government regulations, smart-grid implementation, smart city, and comfort and security. On the other hand, the market players are faced with some restraints such as lack of effective product differentiation, high switching costs in the adoption of new technologies, and complex installation processes.”

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