Press release
Window Automation Market Showing 12% CAGR Growth to 2024: Company Profiles & Trends Analysis
Increasing adoption of automated ventilation systems in commercial offices, industries and households will drive the Window Automation Market share from 2016 to 2024. New commercial and residential constructions are incorporating these products to make more energy efficient buildings and reduce energy consumption costs.
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Window Automation Market size is set to surpass USD 7.5 billion and the shipments will exceed 15 million units by 2024; according to a new research report.
Growing automation demand for user comfort & convenience, optimized energy consumption, and reduction in CO2 emissions will support the industry growth over the forecast timeline. Longer life cycle and robustness of these solutions is expected to fuel popularity levels among consumers.
Certification companies/organizations provide guidelines regarding design specifications and safety measures which must be established at the workplace, enabling manufacturers to develop products for marketing in different regions. The legislations and standards introduced by regional authorities in the interest of smoke ventilation & emergency escape situations coupled with reduced environmental impact will present significant growth opportunities to this industry from 2016 to 2024.
Retrofitting the automated windows over manual windows and their high installation costs are challenges for this industry. Natural ventilation solutions also lower artificial HVAC demand to a certain extent. Window automation market share is fragmented owing to a large number of local players. The presence of numerous manufacturers and contractors providing window automation services increase the competition. Acquisitions and joint ventures are the main strategies implemented by competitors to gain foothold in the window automation market size.
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Automated natural ventilation provides improved air quality at the home and workplace, resulting in reduced expenditure on air conditioning systems. The reduced emissions from the building help in maintaining the air quality and improving environmental impact. In emergencies such as fire, smoke ventilation clears CO2 and other hazardous gases out of the workshops. Pharmaceutical, chemical, and mechanical industries are major industrial sectors in the window automation market.
Residential window automation market size has high growth prospects from 2016 to 2024. Increasing demand for smart homes and incorporating automation in renovating existing structures will support demand.
The education sector was the key revenue generator in the commercial window automation market share. Regulations concerning the compliance of efficient ventilation for schools and colleges are the prominent drivers for this industry. Healthcare is expected to witness the highest growth over the forecast years due to increasing safety and hygiene concerns for patients.
APAC window automation market size will remain attractive due to increasing consumer awareness regarding high-energy efficiency. The largest untapped consumer base, growing retail, education, healthcare, and hospitality business operations in the region will positively support the overall industry demand.
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