DUBLIN–(BUSINESS WIRE)–The “Vietnam Building Automation Systems (BAS) Growth Opportunities” report has been added to ResearchAndMarkets.com’s offering.
The BAS market in Vietnam grew by 11.1% in 2021. This comes after a huge decline in market revenues due to the COVID-19 pandemic in 2020.
The market is expected to have a double-digit compound annual growth rate from 2021 to 2027 and reach $11.4 million in 2027. Market expansion will be driven by heightened awareness for energy efficiency in buildings and the need to cater to the operation of buildings in the wake of the pandemic.
Key growth opportunities in the Vietnam BAS market include automation solutions for contact-less building operation, AI-powered and cloud-controlled solutions for automated buildings, and a focus on health and wellness solutions for increased occupant productivity. Major players in the market include Siemens Building Technologies, Johnson Controls, Honeywell, and Schneider Electric.
The COVID-19 pandemic has accelerated the need to automate buildings. There is an increasing need to manage buildings remotely, which demands the convergence of advanced analytics, artificial intelligence (AI), and emerging technologies with building automation systems (BAS).
Currently, 90% of the BMS market in Vietnam is in the early stages of digital transformation, which means buildings will have to undergo rapid transformation at the earliest to cater to changing needs. Smart devices and systems will have a huge role to play in determining how buildings function in the pandemic-induced “new normal” scenario (short-to-medium term).
Major industry participants are already working on strengthening the technologies underpinning their solution portfolios to prepare for changing building operation needs. Some are forging partnerships or acquiring innovative start-ups to boost their technological capabilities.
The building automation market is defined by the manufacturer revenue earned from the sale of automation controllers and associated automation and supervisory software. This means that “factory gate” revenue has been considered; distribution channel revenue is excluded from the scope of the study.
Key Topics Covered:
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative
- The Impact of the Top 3 Strategic Imperatives on the Building Automation Systems (BAS) Industry
- Growth Opportunities Fuel the Growth Pipeline Engine
Growth Opportunity Analysis
- Scope of Analysis
- Building Automation – Evolution Toward Intelligent Solutions
- Gross Domestic Product (GDP)
- Price and Inflation Trends
- Foreign Investments
- Wage Indicators
- COVID-19 Impact
- Growth Drivers
- Growth Restraints
- Key Growth Metrics
- Revenue Forecast
- Revenue Forecast Analysis
- Market Distribution Channels
- Percent Revenue by End User
- Revenue Share
Growth Opportunity Universe
- Growth Opportunity 1: Automation Solutions for Contactless Building Operation
- Growth Opportunity 2: AI-powered and Cloud-controlled Solutions for Automated Buildings
- Growth Opportunity 3: Focus on Health and Wellness Solutions for Increased Occupant Productivity
For more information about this report visit https://www.researchandmarkets.com/r/kz8z4p
The content is by Business Wire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.