July 21, 2022 15:40 ET | Source: Straits Research Straits Research

New York, United States, July 21, 2022 (GLOBE NEWSWIRE) -- HVAC (Heat, Ventilation, and Air Conditioning) controls are implemented to control how a heating, cooling, and ventilation system works. The sensing device and other equipment are used to compare the actual state, such as temperature or humidity, to the desired state. Things that control how heating, cooling, and ventilation equipment works make up HVAC Control. HVAC Control is used in many types of businesses, including industrial, enterprise, retail, hospitality, and residential.

The building automation and controls industry is expected to grow because of government programs and the creation of smart cities in developing countries. In turn, this makes the market for HVAC controllers grow. Building automation systems (BASs) and HVAC systems that connect to the Internet of Things are driving the market growth. Also, the growing demand for cloud computing in HVAC is a great way for the HVAC control market to grow.

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Emergence of IoT-Enabled HVAC Systems and the Growing Demand for Building Automation Systems are Stimulating the Global HVAC Control Market

HVAC systems that can connect to the internet are being used in more and more industries. This is because they have high operating speed, better time management for operations, efficient use of resources, less human effort, and higher productivity. HVAC systems are often used to control the humidity and temperature in the food, drink, chemical, pharmaceutical, and petrochemical industries.

Improving storage and warehouse facilities also means constantly checking airflow, temperature, and humidity. So, processing and storage companies are using IoT-enabled HVAC systems more to keep an eye on their equipment. This will likely give market players in developing countries an excellent chance to grow over the next few years.

More HVAC controls are being added to building automation systems (BASs). This is one of the most important things driving the growth of the market as a whole. More people are also using BASs because wireless sensor networks and protocols are improving. The market is also growing because office buildings and big shopping malls need BASs to make their management systems work better. A higher standard of living and the need for more energy-efficient HVAC systems are also driving up the demand for HVAC control in residential building automation systems, which is helping the market grow.

Underlying Market Opportunities Created by the Soaring Demand for Cloud Computing in HVAC

One of the most expensive things building managers have to pay for is air conditioning. End users are turning to cloud computing in HVAC to control costs and ensure the system works well. HVAC is using cloud computing more because it is scalable, flexible, and easier for people to work together. Also, many HVAC companies are putting a lot of work into developing cloud computing to keep their businesses going and get more customers worldwide. For example, in January 2018, Taiwan-based Advantech Co., Ltd. integrated software to help HVAC application development for building HVAC systems.

The system sends data to the cloud, where it is analyzed so that users can get real-time information through a control panel or another portable device. Similarly, the U.S. software company Wrightsoft made HVAC load analysis software that uses cloud technology and has much productivity-boosting potential. With this new technology, HVAC contractors can provide better customer service and cut costs simultaneously. Siemens' Synco IC is a system that runs in the cloud and lets you remotely control your HVAC system.

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Asia-Pacific holds the largest global HVAC control market share and is expected to grow at a CAGR of 6.3% during the forecast period. In Asian countries, HVAC control systems are used in several end-use industries, such as automotive, metals and mining, and electronics. The market is likely to grow because of the growth of the electronics and aviation industries in this region.

North America holds the second-largest share in the global HVAC control market and is expected to reach USD 4,314 million by 2030, growing at a CAGR of 5%. North America's HVAC control market depends on the excellent industrial infrastructure in developed economies like the US and Canada. Furthermore, as Mexico's auto, food and beverage, and chemical industries grow, there is a huge demand for HVAC control in the region.

Europe is the least revenue-generating region in the global HVAC control market. In European countries like the UK, France, and Italy, strict rules about installing energy-efficient HVAC systems will likely increase the demand for HVAC control systems. This, in turn, drives the growth of the HVAC control market.

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The major key players in the global HVAC control market are –

Global HVAC Control Market: Segmentation

Table of Content and Figure @ https://straitsresearch.com/report/hvac-control-market/toc

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