South America KNX Products Market

Market Overview

The South America KNX products market size was valued at USD 470 million in 2022 and is projected to reach USD 1,207 million by 2031, registering a CAGR of 10.8% during the forecast period (2023-2031).

Highlights

• Sensors dominate the market by type.
• Commercial building dominates the market by Application.

KNX is an open standard protocol for commercial and residential building automation that has the potential to reduce annual energy consumption by up to sixty percent. It is an intelligent system that incorporates all of the building's operations, such as heating, ventilation, and lighting, into a unified whole, resulting in cost savings and improved energy efficiency. The accelerating rate of urbanization and the rising demand for a convenient, environmentally friendly, and safe place to live and work will contribute to the acceleration of market growth. Its ability to cover the entire world's population with a single network, as well as its future-proof nature, limitless adaptability, and personalization options, will propel it to the vanguard of the market.

Market Dynamics

South America KNX Products Market Drivers

Heightened Awareness of Diminishing Energy Resources and the need for Energy Efficiency

Concerns about dwindling resources and climate change have made energy efficiency a crucial social issue. 40% of total energy consumption is accounted for by buildings, presenting a substantial opportunity for energy savings. A building equipped with a KNX home and building automation control system can ensure economic energy consumption and, as a result, improve energy efficiency. The prudent use of energy will not only benefit future generations but will also make homes more cost-effective. Blinds, shutters, room thermostats, heating valves, window sensors, and light sensors can communicate using a KNX system. Comparing a KNX installation to conventional systems in a controlled research environment, several specialized research programs conducted by various universities have revealed astonishing energy savings results.

South America KNX Products Market Restraints

High Cost and Lack of Market Awareness

Low awareness regarding the advancements and benefits of KNX products and the overall presence of KNX products on the international market in most of the western portion of the world, as well as developing and emerging economies, is anticipated to restrain the development of the KNX products market to some degree. According to other standards, the complexity of the KNX software platform ETS is anticipated to restrain the market's expansion further. Consequently, the lack of awareness regarding the presence and the high cost of KNX products are expected to restrain the market growth of KNX products.

South America KNX Products Market Opportunities

Increasing Adoption of the Internet of Things (IoT)

KNX is currently emerging as the dominant home automation system worldwide, and its integration with IoT will strengthen this position. KNX is expected to provide future opportunities for KNX IoT manufacturers and system integrators utilizing IoT technology and the most recent IoT advancements. These opportunities have allowed KNX manufacturers to broaden the application portfolio of KNX products to include energy storage, smart metering, energy management, mobility, renewable energies, and smart infrastructure. The KNX IoT solution will enable 'out-of-the-box' operation of the current KNX ecosystem while still permitting sophisticated configuration and adaptation to specific customer or operational requirements. KNX installations could be connected to the Internet of Things by providing a URL and credentials, such as a username and password. In the future, the Internet of Things (IoT) will likely present numerous opportunities for adopting more open standards and the KNX standard.

Regional Analysis

The South American KNX products market is analyzed by country into Brazil, Argentina and rest of South America. Rest of South America dominated the market and is expected to grow at a CAGR of 10.1% during the forecast period.

Due to high energy costs, South America's residential home automation market is confronting challenges, driving the demand for low-cost and energy-efficient initiatives. KNX products are in high demand throughout the region, with KNX partners in nearly every province. Argentina is experiencing a significant increase in demand for building automation in the region due to the country's new energy efficiency policies for building and residential automation. New projects now incorporate energy-efficient systems and designs created by dedicated professionals eager to incorporate cutting-edge technology whenever possible. In addition, companies such as ABB, Schneider, Jung, and Factum, as well as other associated businesses and installers, are becoming increasingly interested in the South American region.

Segmental Analysis

The South American KNX products are segmented based on type, application, and country.

Based on Type, the market is segmented into sensors, actuators, and system components.

The sensors segment dominates the market and is expected to grow at a CAGR of 11.6% during the forecast period.

The KNX product market has been segmented based on Application into commercial buildings, residential buildings, and other applications.

Commercial buildings dominated the market and are expected to register a CAGR of 10.2% over the forecast period.

Recent Developments

• May 2022- The second version of the Smart Glass Room Temperature Controller was released by KNX manufacturer MDT Technologies.
• January 2022- With MDT's new KNX Shutter Push Button Smart, the user will have access to all shading-related information. The active color display denotes the status and operation of the shutters, including their height, slat position, and wind, rain, and frost warnings.