The global building automation systems (BAS) market size is expected to be worth USD 200.8 billion by 2028 from USD 107.3 billion in 2023, growing at a CAGR of 13.35% from 2023 to 2028.
The highly digitized and compatible building automation systems are in high demand within the world market because those systems are backed by IoT, Bluetooth, and other mobile applications. Aside from private and commercial buildings, several of the most natural luxury properties around the globe are putting security at the highest priority of their list. This changing scene will speed up the event of the worldwide building automation systems market.
Global Building Automation Systems Market Drivers:
The frequent security violations are a significant concern for the various government and personal establishments. The rising security concerns are fast changing the material of the worldwide building automation systems market. This is often a pertinent issue that is positively impacting the expansion of the global building automation systems market.
With the sheer proliferation of internet-connected things, starting from cars to fitness trackers, the Internet of Things (IoT) is now increasingly referred to as the Internet of Everything (IoE). 'The Internet' has emerged because of the new standard across building structures and therefore the installed devices, primarily pushed by a requirement for enhanced connectivity. With building managers and land investors having a vested interest in bringing down building operating costs and boosting related efficiencies, IoT sees a broader acceptance within the arena of AEC (architecture, engineering, and construction), which is a primary driver for the expansion of the global building automation systems market.
Global Building Automation Systems Market Restraints:
BAS helps save energy and reduce operating and maintenance costs. However, end-users and building owners hesitate to implement BAS because of their false perception that these include the high cost of installation. Similarly, they're unaware of the fact that the value is primarily keen on the complexity of integration concerning a selected application. End-users demand affordable building automation systems but fail to understand the extent of the energy savings and the associated benefits of long-term cost savings. On average, lighting accounts for about 25% of a building's energy usage. With lighting control systems, the lighting cost is often reduced by 30–60% while enhancing lighting quality and reducing environmental impact. Besides this, the initial investment in building automation and control systems is often quickly recovered within a few years because it helps scale back energy costs, maintenance costs, and repair and replacement costs.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2022 to 2028 |
Base Year |
2022 |
Forecast Period |
2023 to 2028 |
Segments Covered |
By Communication Technology, Offering, Application and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
This research report on the global building automation systems market has been segmented and sub-segmented based on communication technology, offering, application and region.
Building Automation Systems Market - By Communication Technology:
The wired segment accounts for a principal portion of the global building automation systems market, which is likely to be overtaken by the wireless segment in the coming decades.
Building Automation Systems Market - By Offering:
The smart HVAC (heating, ventilation, and air conditioning) systems are critical with reference to depleting natural resources, primarily fossil fuels, which are expected to boost the value of energy supply and distribution over the forecast period. With the increasing government regulations across developed and developing countries, most of the buildings need smarter heating and cooling in new buildings, which is aiding the expansion of the HVAC systems. Smart HVAC upgrades can save substantial amounts of cash on utility bills, around 30-50%.
Building Automation Systems Market - By Application:
The commercial applications are estimated to expand with the highest CAGR in the coming years, attributing to the increased adoption in developed regions like North America and Europe.
Building Automation Systems Market – By Region:
North America's building automation systems market dominated the global market in 2019. The U.S. General Services Administration installed smart building technology in 50 of the federal government’s most energy-consuming buildings. Commercial buildings account for nearly 40% of US primary energy use. The rise in the adoption of HVAC systems in these buildings to scale back carbon emission is additionally favoring the market’s growth.
Europe's building automation systems market is another promising region for the expansion of this business, owing to the favorable regulations and the presence of key market players.
Asia Pacific's building automation systems market is predicted to be the fastest-growing business. The expansion is attributed to the large economic process witnessed by the emerging countries in this region. The rapid increase of the development industry, along with government initiatives, is predicted to drive the regional market growth.
KEY MARKET PLAYERS:
Johnson Controls International (Ireland), Schneider Electric (France), Honeywell International (US), United Technologies Corp. (US), Siemens AG (Germany), Lutron Electronics Co. (US), Robert Bosch (Germany), Legrand (France), Hubbell (US), ABB (Switzerland), Ingersoll-Rand (Ireland), Crestron Electronics, Inc. (US), BuildingIQ (US), Delta Controls (Canada), Hitachi Ltd. (Japan), Beckhoff Automation GmbH (Germany), Control4 Corporation (US), Lennox International Inc. (US), General Electric (US) and Distech Controls (Canada) are some of the notable companies in the global building automation systems market.
RECENT HAPPENINGS IN THE MARKET:
Frequently Asked Questions
By 2028, it is predicted that the global Building Automation Systems market can reach a valuation of US$ xx billion.
The Global Building Automation Systems market can expand with a CAGR of xx% during the forecast period.
Johnson Controls International (Ireland), Schneider Electric (France), Honeywell International (US), United Technologies Corp. (US), Siemens AG (Germany), Lutron Electronics Co. (US), Robert Bosch (Germany), Legrand (France) and Others.
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