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The Building Automation System Market size was valued at around USD 77.12 Billion in 2023 and is expected to reach a value of USD 135.14 Billion by 2031, at a CAGR of 7.8 % over the forecast period (2024–2031).
The global market for building automation systems has been driven by the expanding acceptance of the Internet of Things, increasing initiatives from public and commercial sectors, and growing security concerns. Building automation has increased the use of automated security systems in recent years. additionally accelerating the development of wireless technologies and sensor networks. In addition, during the projected period, the market has grown thanks in part to the Internet of Things' quick growth. Furthermore, during the course of the projected period, government programs aimed at lowering carbon emissions and enhancing energy efficiency are probably going to present profitable growth prospects for the market.
The International Energy Agency states that 20% of current buildings and all new construction must be carbon-free by 2030 in order to meet the global zero-carbon target. A report published in the Proceedings of the National Academy of Sciences predicts that rapid warming brought on by population growth and climate change will cause an estimated 30% of the world's population to live in regions where the average temperature will rise above 29°C over the next 50 years.
At the moment, this atmosphere covers 1% of the Earth's surface, mostly in the Sahara Desert's warmest areas. But by 2070, it's expected that about 25% of the planet's surface would have been impacted by global warming.
The increasing complexity of smart buildings due to technological advancements necessitates quick documentation through retro-commissioning. Furthermore, there is an increase in the risks related to upholding operational integrity. As a result, it is anticipated that demand for total construction automation Would rise. To comprehend how the building functions, a substantial communication channel between the building owner and the system provider/developer must be established.
Growing The development of wireless sensor network technologies and wireless protocol evolution for automation system construction
Advancements in IoT and Building Automation Technologies
Integration of Artificial Intelligence and Machine Learning
Shift Towards Cloud-Based and IoT-Enabled Solutions
Technical challenges and a lack of qualified employees
In September 2023: Johnson Controls, a global pioneer in intelligent, green, and health-conscious building design, just launched OpenBlue Service, their newest product. Ensuring Security Device Performance aims to maximize investments in security technologies while enhancing building security and reducing risk. Although no guarantees are made, the offering is extensive because it includes Johnson Controls' OpenBlue suite of integrated solutions, cybersecurity protection system, cybersecurity device monitoring and maintenance capabilities, insightful advice from seasoned engineers, and remote support services.
The report will cover the qualitative and quantitative data on the global Building Automation System Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide
Study Period | 2024-31 |
Base Year | 2023 |
Estimated Forecast Year | 2024-31 |
Growth Rate | CAGR of 7.8% from 2024 to 2031 |
Segmentation | By Component, By Technology, By Application, By End User, By Region |
Unit | USD Billion |
By Component |
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By Technology |
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By Application |
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By End User |
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By Region |
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The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2024-2033 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
The report also helps in understanding Global Building Automation Systems Market dynamics, structure by analyzing the market segments, and project the Global Building Automation Systems Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Building Automation Systems Market make the report investor’s guide.
The market scope is segmented because of by Component, by Technology, by Application, by End User.
Based on the Component of the market is segmented into Hardware and software.
The hardware side of components is still strong because the technology is used in actual structures. Sensors, controllers, and actuators are needed for building data gathering, processing, and control actions. As long as there is a demand for complex and useful hardware solutions, especially in the areas of Industry 4.0 and the Internet of Things (IoT), the hardware market will continue to rule. The market for hardware is expanding as a result of consumers' increasing use of linked sensors and intelligent devices.
At the same time, the BAS market's fastest-growing category is software. The requirement for complex control solutions that maximize building automation's overall efficiency is what is driving this expansion. Smarter and more efficient construction projects are made possible by software programs that support real-time analysis, data analysis, and decision-making. Architectural systems have a workload that is growing more complex, and software is becoming a more significant factor in facilitating simple integration and adaptability. These factors are in addition to the growing emphasis on data-driven insights and the integration of artificial intelligence and machine learning, which aids in the software segment's rapid expansion.
Based on the Application of the market is segmented into Commercial, Residential, Industrial.
The Building Automation System (BAS) market is currently dominated by the commercial segment, and this trend is anticipated to continue during the projected period. BAS has been widely adopted in commercial applications, such as offices, retail stores, and public buildings, due to its ability to boost energy efficiency, improve efficiency, and enhance occupant comfort. The commercial department's supremacy stems from businesses realizing the long-term advantages and financial savings that come with carefully thought-out building solutions. The need for comprehensive BAS has grown even more as a result of the incorporation of cutting-edge technologies like cloud computing and IoT in commercial buildings.
In the short term, the residential sector is anticipated to increase at the fastest rate. The residential market is seeing a rise in the adoption of BAS as more homeowners seek out smart home solutions that provide enhanced convenience, energy efficiency, and security. The residential BAS market is being driven by the increasing trend towards home automation, which includes smart lighting, security systems, and HVAC (heating, ventilation, and air conditioning) control. The market for in-building automation systems is growing quickly due to the growing desire for simple, integrated solutions, including smart home appliances that are affordable and easy to use. Smart home technology is anticipated to allow the residential sector to grow significantly, albeit from a lesser area compared to the commercial sector, as it becomes more widely available and popular.
By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. North America dominated the global building systems automation revenue market. Furthermore, it is estimated that growing systems and significant market participants will boost revenue in this sector during the projected year. In 2023, Honeywell and Arcadis announced that they will be collaborating to provide technology and services to address energy efficiency and carbon emissions in commercial buildings globally. This move is intended to encourage businesses to collaborate in order to accelerate the achievement of carbon reduction targets. Delivery options will vary, with priority given initially to five projects located throughout the globe.
The Asia Pacific market is expected to grow at the fastest rate in the worldwide BAM industry over the course of the forecast period. This is due to the need for centralized management and control growing along with the rapid technology improvements in countries like China, Japan, and India. The establishment of Siam Motors Group, which would function as the sole elevator stairs sales and service provider in Thailand, was announced in 2022 by Hitachi Elevator Company Limited, a joint venture of Hitachi Elevator Company Limited. These companies will reduce physical contact between people, ensure safe and secure traffic content, and contribute to a comfortable and safe working environment for both employees and visitors by offering buildings with physical biometrics, such as facial recognition and QR code recognition pricing, through this launch.
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04 Jan 2024
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