Report Code: TIPRE00004033 | No. of Pages: 150 | Category: Electronics and Semiconductor | Status: Prebook
A building controlled by automation is often referred to as an intelligent building or a smart building. The demand for various systems, such as security & access control units, fire protection, facility management, and HVAC control, is rising to make building more connected and automated. With the growing scope of network integration worldwide, the inclination toward BAS will continue to propel. In a smart building, network integration communication within the mentioned systems becomes easy and quick. For instance, use of the Internet of Buildings can facilitate individuals and buildings to communicate to each other in real-time. Moreover, the emergence of virtual smart buildings is expected to continue playing a vital role in the construction industry. The use of virtual smart buildings will help in replacing outdated BAS installed in small and mid-size buildings.
Key factors attributing to the growth of BAS include assistance in keeping building climate within a specified range and light rooms based on an occupancy schedule. The system also monitors performance and device failures in other connected building automation systems while notifying malfunction alarms. As these systems help reduce the energy and maintenance costs of a building, their acceptance within residential and commercial sectors is high and continue to increase.
The growing requirement for energy-efficient facilities with enhanced security systems in residential and commercial buildings is another foremost factor driving the demand for building automation systems. Besides the factors mentioned above, the advent of wireless communication technologies is lowering the complexity and cost of installing BAS in the existing building. All these factors are creating the need for BAS at a massive scale, therefore contributing toward the growth of the building automation system market
The "Global Building Automation System Market Analysis to 2028" report aims to provide an overview of the building automation system with detailed market segmentation. The report provides key market statistics based on the performances of the leading players. It also offers key trends and opportunities in the market.
|Market Size Value in||US$ 70 Billion in 2021|
|Market Size Value by||US$ 175 Billion by 2028|
|Growth rate||CAGR of 12% from 2022 to 2028|
|No. of Pages||150|
|Historical data available||Yes|
|Segments covered||Component, Application, Communication Technology, and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The global building automation system market is segmented into component, application, and communication technology. Based on component, the market is segmented into hardware, software, and services. Based on application, the market is categorized into residential, commercial, and industrial. Based on communication technology, the market is segmented into wireless technologies and wired technologies.
The global building automation system market is segmented into 5 major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The report covers an analysis and forecast of 18 countries worldwide along with trends and opportunities prevailing across the regions mentioned above.
From the regional perspective, APAC is expected to grow at the fastest CAGR of approximately 13% during the forecast period. In Asian economies, there is an inclination observed toward the integration of IoT in a complete lifecycle of a building. Moreover, due to strict building codes and growing energy prices, the Asian market is expected to be driven by more reasonable building automation systems for small- and medium-sized buildings. Emerging countries, such as Southeast Asia, are investing significantly in new constructions. Due to such investment, building owners and installers are looking ahead to deploy basic building management infrastructure and building management systems. The installation of such systems is projected to create more demand for building automation solutions and, thus, offer lucrative business opportunities to the APAC building automation system market.
Regarding market maturity, APAC is in line to achieve the same level of success as North America and Europe. Stringent standards regulate building construction and performance in both regions. Therefore, the building automation system markets in North America and Europe hold the largest share, whereas the APAC market is anticipated to be the fastest during the forecast period.
The figure below showcases the revenue growth trend of the global building automation system market:
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Source: The Insight Partners Analysis
The report analyzes factors influencing the building automation system market, such as drivers, restraints, opportunities, and future trends. It also provides an exhaustive PEST analysis of these factors.
The COVID-19 onset has positively impacted the demand for building automation systems. Building analytics is a powerful tool to support building owners in boosting buildings safely and efficiently during the pandemic and the recovery phase. Existing building analytics platforms improved, and the focus on compliance reporting and investment in sensors, such as motion detectors, people counting cameras, and indoor air quality sensors, increased during the pandemic. To facilitate proper communication for managing the pandemic crisis, the demand for automated & connected systems, including safety & security control and access control, was boosted.
The report covers all key developments in the building automation system market. Various companies focus on organic growth strategies, such as product launches, approvals, patents, and events. Inorganic growth strategies such as acquisitions, partnerships, and collaborations have encouraged the expansion of business and the customer base of market players. With the rising demand for building automation systems, market players are anticipated to experience lucrative growth opportunities in the coming years.
The report also includes key building automation system companies' profiles, their SWOT analysis, and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information for the last three years, and key developments in the past five years.
In the building automation system market, ABB Ltd.; Siemens AG; Honeywell International Inc.; Hitachi, Ltd.; Hubbell; Ingersoll-Rand plc; Johnson Controls; Lennox International; Robert Bosch GmbH; and Schneider Electric SE are few key players operating in the building automation system market.
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the study.
The List of Companies
2. Crestron Electronics, Inc.
3. Distech Controls Inc.
4. Hitachi, Ltd.
6. Ingersoll-Rand plc,
7. Johnson Controls.
9. Robert Bosch GmbH
10. Schneider Electric