Building Automation System Global Market Report 2022: Rapid Construction of Energy-Efficient Buildings, Cheaper Operations and Maintenance, Improved IAQ, and Managed Home Automation Drive Growth
Building Automation System Market
Dublin, March 03, 2023 (GLOBE NEWSWIRE) -- The "Building Automation System Market Size and Share Analysis by Offering, Technology, End User - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
According to the market research report, in 2021, the building automation system market was worth around $77.1 billion, from where it is set to reach $207.5 billion by 2030, growing at an 11.6% CAGR from 2021 to 2030. The market is being propelled by the rapid construction of energy-efficient buildings, cheaper operations and maintenance, improved IAQ, and managed home automation, as well as the advances in sensor, communication, touchscreen, and analytics technologies.
Furthermore, the market is driven by the rising security and access control demand, as well as the increasing use of predictive analytics for improving the management of HVAC systems in buildings.
Energy-Efficient Lighting Solutions Are Becoming Popular
A significant driver for the building automation system market is the increasing usage of energy-efficient lighting solutions. This is because governments in China, India, the U.S., and many other nations are putting a strong focus on encouraging energy efficiency by utilizing low-power-consuming lights, especially LEDs. Energy efficiency aids in the reduction of thermal pollution and greenhouse gas emissions, providing yet another compelling reason to make the transition.
Commercial Building Automation Is Most-Extensive Application Area
Commercial users hold a share of roughly 40% in the market. According to a government body, of the total energy consumed by commercial buildings, around 30% is lost, and the situation can be improved by using BAS, which can control a building's HVAC, lighting, and other energy demands, to improve energy efficiency and augment worker productivity.
Fastest-Growing Categories in Building Automation Systems Market
Facility management systems, which enhance the overall control and efficiency of building systems, can help cut energy costs. As a result of these reasons, facility management systems are expected to grow at a building automation system market CAGR of more than 13%. HVAC, lighting, water heaters, freezers, refrigerators, and dryers tother account for around 64% of the energy consumption in buildings, and security & access control, electronics, and other systems combined account for the remainder 36%.
Wireless systems are easier to install and operate and allow for better flexibility and control than wired systems; thus, the demand for wireless systems is predicted to grow at a CAGR of roughly 14% throughout the projection period. Furthermore, big corporations are working on the creation of controllers, wireless sensors, and gadgets, which will allow these systems to be controlled remotely.
North America Dominates Global Market
North America leads the global building automation system market with a share of over 30%. This is due to the technical developments, strict energy efficiency laws, and the rapidly rising demand for building automation technologies. Furthermore, the growing facility management expenses in public buildings is boosting the requirement for these solutions.
No. of Pages
2021 - 2030
Estimated Market Value (USD) in 2021
Forecasted Market Value (USD) by 2030
Compound Annual Growth Rate
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Definition of Market Segments
5.1 By Offering
5.1.1 Facility Management Systems
5.1.2 Security & Access Control Systems
5.1.3 Fire Protection Systems
5.1.4 BEM Software
5.1.5 BAS Services
5.2 By Technology
5.3 By End User
Chapter 6. Industry Outlook
Chapter 7. Global Market Size and Forecast
7.2 Market Revenue, by Offering (2017-2030)
7.3 Market Revenue, by Technology (2017-2030)
7.4 Market Revenue, by End User (2017-2030)
7.5 Market Revenue, by Region (2017-2030)
Chapter 8. North America Market Size and Forecast
Chapter 9. Europe Market Size and Forecast
Chapter 10. APAC Market Size and Forecast
Chapter 11. LATAM Market Size and Forecast
Chapter 12. MEA Market Size and Forecast
Chapter 13. Competitive Landscape
Chapter 14. Company Profiles
Chapter 15. Appendix
Johnson Controls International plc
Honeywell International Inc.
Rockwell Automation Inc.
Schneider Electric SE
Trane Technologies plc
Robert Bosch GmbH
Mitsubishi Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/r/tagw8t
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