Building Automation Systems Market Expected to Reach USD

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New York, U.S., June 01, 2022 (GLOBE NEWSWIRE) — Building Automation Systems Market Overview

According to a comprehensive research report by Market Research Future (MRFR), “building automation systems market Analysis by Network (Wireless, Wired), by End User (Commercial, Industrial, Residential), by Product (HVAC, Surveillance System, Fire Protection System, Lighting Control System) – Assessing the forecast 2030 is about to reach USD 164.4 billion by 2030, registering a CAGR of 10.2% throughout the forecast period (2021-2030).

Scope of Building Automation Market Report:

Over the coming years, the adoption of AI for total automation during building construction is expected to provide additional investment opportunities for the building automation system market. The use of new technologies will reduce the pressure on the equipment of the building automation system and help to achieve correct results in the shortest possible time.

Report metric Details
Market size $164.4 billion
CAGR 10.2%
base year 2020
Forecast period 2021-2030
Historical data 2019
Forecast units Value (USD billion)
Report cover Revenue forecasts, competitive landscape, growth factors and trends
Segments Covered Network, end user, product and region
Geographical areas covered North America, Europe, Asia-Pacific and Rest of the World (RoW)
Main suppliers United Technologies Corp., Schneider Electric, Ingersoll-Rand PLC, Robert Bosch, ABB Ltd., Hubbell Inc., Johnson Controls International, Mitsubishi Electric Corporation
Key market opportunities More and more means of computer communication
Key Market Drivers The crucial feature of any building automation system is the security CCTV system

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building automation systems market segments

The global building automation systems market is divided on the basis of end users, products, and network connectivity.

By network connectivity, wireless will dominate the market over the forecast period.

By product, surveillance systems will dominate the market over the forecast period.

By end users, industrials will be spearheading the market during the forecast period.

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building automation systems market Regional analysis

North America to Dominate the Building Automation Systems Market
North America now dominates the market, accounting for the largest share of revenue. The construction sector has increased the number of automation systems installed in new buildings, which has greatly benefited the market. Moreover, the region prides itself on incorporating state-of-the-art technologies into the system, which is backed by excellent infrastructure. Individuals in this region earn more than people in other regions, so the investment capacity for these dwellings is relatively large, which gives a boost to the market. Government rules have been relaxed, which is driving the demand for building automation systems. Due to the growing use of building automation system in the residential sector in this region, the United States is likely to dominate the North American market.

Due to the large number of rapid adoptions in the United States and Canada, North America holds the largest share of the global market. Owing to its developed infrastructure capable of handling building automation solutions in both commercial and residential segments, the region is expected to dominate the global market over the forecast period. Due to the energy saving benefits offered by such systems, governments in this region are leaning towards implementing such smart solutions. The Green Building Council in the United States, together with the popular Bank of America Charitable Foundation, leads the “LEED” initiative, which helps local governments implement sustainable solutions. Residential, commercial and industrial users are adopting amazing energy-saving solutions to deploy building automation controls, and the global market for building automation systems in the United States has witnessed significant growth. Various federal policy directives regarding rising energy costs, stringent rules governing greenhouse gas emissions, and growing awareness of the benefits of automation are all driving industry in the United States. In addition, the presence of major building automation systems firms, such as Siemens, is fueling the need for building automation solutions in the region, as well as the creation of new concepts and major technological breakthroughs. According to the Energy Information Administration in the United States, the commercial sector consumes about 20% of the country’s energy and emits 12% of the country’s greenhouse gas emissions. Smart buildings (with a building control system) help the whole community by reducing waste and conserving energy. The introduction of artificial intelligence has prompted companies in the region to use AI to improve their CCTV devices. This improves the safety and security of their products. As a result, market growth is expected to accelerate over the next few years.

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APAC to See Significant Growth in Building Automation System Market
This region is reshaping the market demographics and is expected to grow at the fastest rate over the projected period. Emerging economies such as India and China are witnessing industrial expansion, creating opportunities for the market to penetrate and establish themselves for a better future. During the forecast period, the market in this region is expected to grow at the fastest CAGR. The expansion of the building automation systems market in the APAC region can be attributed to the region’s economic growth, along with an increase in construction and industrial activity in key countries in the region. The primary goal of the consumer is to save money by implementing building automation solutions that save energy. Smart cities are increasingly developed in countries like China and India. Due to changing consumer preferences for HVAC control systems, China is expected to dominate the Asia-Pacific market, which will increase the need for building automation systems. Due to the rapid development of the construction industry in developing countries like India and China, Asia-Pacific is expected to experience the highest CAGR throughout the projection period. In addition, the Asia-Pacific market benefited from stronger government energy conservation measures.

Drivers
Growing need for smart buildings to support market growth
Due to the growing recognition of smart buildings among customers, the global building automation systems market is expected to grow. To save power and energy, smart buildings are constructed through building automation system software. Smart building structures are constructed in such a way that they can automatically regulate building activities such as ventilation, air conditioning, heating, security and many more. Due to the multiple benefits of building automation systems, there is a growing need for smart buildings which is expected to drive the market over the forecast period.

Lack of qualified experts to act as market restriction
Lack of qualified experts, technical inconveniences and high installation costs may act as market restraints during the forecast period.

Presence of various communication protocols to act as market challenge
Presence of various communication protocols and high maintenance costs may pose challenges for the market during the forecast period.

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The Dominant Key Players in the Building Automation Systems Market Covered are:

  • ABB AG (Switzerland)
  • Cisco Systems Inc. (USA)
  • Robert Bosch GmbH (Germany)
  • Siemens AG (Germany)
  • Crestron Electronics Inc. (USA)
  • Delta Controls Inc. (USA)
  • Rockwell Automation (USA)
  • Schneider electric SE (France)
  • General Electric (USA)
  • Honeywell International Inc. (USA)
  • Lutron Electronics Co. Inc. (USA)

COVID-19 analysis
The COVID-19 outbreak has had a significant impact on the market. Due to the spread of the deadly virus COVID-19 at the time of the pandemic, most of the construction work has been halted. Since automation systems are commonly used in the construction industry, the market suffered from the halt in construction operations. Moreover, as the means of unlocking began, the construction activities have increased and the demand for building automation systems has increased, which is expected to fuel the market post-pandemic.

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