Many countries in the European Union (EU) are struggling to meet the bloc’s ambitious energy reduction targets, a problem that can be partly alleviated by adopting more extensive Building Automation and Control Systems (BACS), according to U.K.-based research and consultancy company BSRIA.
BSRIA, owned by the Building Services Research and Information Association, has found that several EU countries, including Belgium, Ireland and Austria, are set to miss their energy reduction targets by more than 20%.
However, with buildings accounting for up to 40% of all energy consumed, BACS is an area with lots of potential for improvement, according to BSRIA. The European BACS market is forecasted to see a 3.3% compound annual growth rate (CAGR) from 2019 to 2024, resulting in a €2.67 billion (US$2.9 billion) market in 2024.
GS Technologies Ltd (LON:GST), through its subsidiary, EMS Wiring Systems Pte. Ltd, provides services in the “Smart Building” sector. Smart Building is a diverse term that refers to the technological capabilities of buildings and other work place facilities.