Automated Fault Detection and Diagnostics Market Forecast Report by 2027

Automated Fault Detection and Diagnostics is an automated process of identifying faults with the help of physical systems for processing, monitoring, as well as diagnosing the faults. It can convert data into actionable insights by analyzing data from systems like building automation systems to determine operational inefficiencies and energy waste.

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Market Drivers

The increase in demand for saving time and valuable resources which expected to drives the automated fault detection and diagnostics market growth during this forecast period. Automated fault detection and diagnostics are generally integrated with other platforms or systems such as analytics platforms or building automation systems. These systems provide key performance indicator dashboards to building engineers and property managers. Furthermore, the increase in the adoption of cloud based platforms will positively influence the global automated fault detection and diagnostics market growth during this forecast timeline. Automated Fault Detection and Diagnostics solutions is creating opportunities which will increase the demand for automated fault detection and diagnostics market in near future.

Market Restraints

Lack of awareness about automated fault detection and diagnostics is the major restraint which expected to hamper the global automated fault detection and diagnostics market growth over the forecast period. Also, high installation cost may affect the market growth.

Market Key Players

Various key players are discussed in this report such as Schneider Electric, BuildingIQ, CopperTree Analytics, KGS Buildings, LLC, ICONICS, IBM Corporation, Yardi Systems, Inc, EnerNOC, Tridium, Inc, Connexx Energy, Inc, Flywheel, United Technologies Corp., TMG – Consulting Engineers, Inc, etc.

Market Taxonomy

By Component

Software (on-premise and cloud)
Services (Managed & Professional)

By Application

Energy Savings
Rooftop Studies
Monitoring Equipment Health
Facility Management
Development of Performance Dashboards
Others

By End User

Building Automation
Automotive
Oil and Gas
Energy and Utilities
Others

By Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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