New York, United States, Oct. 18, 2022 (GLOBE NEWSWIRE) -- The Global KNX Products Market Size to grow from USD 6.150 billion in 2021 to USD 18.47 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 13% during the forecast period. The most important element driving the expansion of this market is the growing need for convenient and flexible administration of heating, lighting, and access control systems in residential and commercial buildings.
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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The System Devices segment to account for the largest market size during the forecast period
Based on the type, the KNX Products Market is categorized into Sensors, Actuators, and System Devices. The System Devices segment accounts for the largest market size during the forecast period. System Devices are expected to show growth over the course of the forecast period and are now the most important segment. System devices are goods that are utilized in KNX systems. Some examples of system devices include couplers, routers, power supplies, and programming interfaces. The most recent development in system devices is a growth in the capacity of devices, which paves the way for the greater integration of various types of logic and functions. Recent instances of this tendency are manifold controllers that also have integrated thermostats and dimmers that feature temperature probe inputs.
Browse key industry insights spread across 215 pages with 104 market data tables and figures & charts from the report “Global KNX Products Market Size, Share, and COVID-19 Impact Analysis, By Type (Sensors, Actuators, and System Devices), By Application (Commercial Building, Residential Building, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.” in detail along with the table of contents
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A Commercial segment to hold a higher CAGR during the forecast period.
Based on application, the KNX Products Market is categorized into Commercial Building, Residential Building, and Others. A Commercial segment to hold a higher CAGR during the forecast period. This segment now accounts for the highest share. Several advantages come along with integrating and controlling the services found in commercial buildings by utilizing the KNX standard and KNX technology. Commercial buildings' heating, ventilation, and lighting systems are responsible for around 70 percent of the total energy usage. This percentage represents a substantial amount of capital and a great environmental impact. KNX devices, when installed in commercial buildings, have the potential to save up to 30 percent of a building's total energy consumption, lowering both the building's operational expenses and its overall impact on the environment.
North America is to hold a higher CAGR during the forecast period.
The KNX Products Market is dominated by North America, which has a sizable patient population with a variety of autoimmune illnesses. According to data provided by the National Institutes of Health (NIH), there are 23.5 million autoimmune disease sufferers in the United States alone, which highlights the urgent need for cutting-edge treatment methods and equipment. The growing effort to raise awareness of autoimmune illnesses is the key factor driving the regional market. The American Autoimmune Related Diseases Association (AARDA), for instance, is aggressively promoting awareness of autoimmune diseases.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global KNX Products market include Schneider. ABB. SIEMENS, Hager (Berker), Legrand, Somfy, JUNG, GIRA, HDL, STEINEL, Urmet, GVS, E.G., DALITEK, JOBO Smartech, Tiansu, Theben AG, and Rishun Technology Other Prominent Key Players.
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