Building Automation System Market By Component (Hardware, Software), By Application (Industrial, Residential, Commercial), By Offerings (Facility Management Systems, Security and Access Controls, Fire Protection Systems, Building Energy Management Software, BAS Services, Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
The global building automation system market is envisioned to garner $194,864.1 million by 2030, growing from $75,757.0 million in 2021 at a CAGR of 10.0% from 2022 to 2030.
A build automation system, also known as a building management system, is the automatic centralized control of a building's Heating, Ventilation and Air Conditioning (HVAC) The main purpose of building automation systems is to reduce energy consumption, improve occupants’ comfort and productivity, reducing maintenance costs and extending the life cycle of the utilities. BAS will adjust the building's temperature in accordance with the need of its occupants or if it determines through its sensors that better air quality is required.
Building automation system market growth is anticipated to be significantly fueled by rising demand for smart buildings over the forecasted period. A building automation system will deliver lower operating and maintenance costs, greater energy efficiency, better indoor air quality, productivity, and greater occupant comfort.
The initial expense of installing a building automation system and the lengthy cost recovery times are significant barriers to BAS solution adoption. The initial installation cost is high because of that they are not affordable for small-scale structures and stores. Additionally, compatibility between software, hardware, networking devices, databases, and other components is required during implementation, which is a resource-intensive and complex procedure.
Building automation systems are increasingly being adopted in the hospitality industry, particularly by businesses aiming to set themselves apart from rivals and concentrating on developing higher-end, world-class lodging. The hospitality industry is facing critical challenges with rising energy expenditures, and several vendors are now offering wireless technology to address these issues. Although BAS adoption in the hospitality industry is still in its infancy, it is anticipated to gain ground as public awareness grows and legislation is introduced by the relevant governments.
The COVID-19 epidemic will cause the global market for building automation systems to grow less slowly. Most industries and markets have been observed to have been affected by the pandemic. Due to the fact that these systems are utilized in construction operations, which were halted as a result of the pandemic guidelines, the building automation system market also had negative repercussions as a result of the pandemic.
The key players profiled in this report include Honeywell International Inc., Robert Bosch GmbH, Johnson Controls, Mitsubishi Electric Corporation, ABB Ltd., Schneider Electric SE, Siemens AG, General electric, Hubbell, and United Technologies Corporation.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the building automation system market analysis from 2021 to 2030 to identify the prevailing building automation system market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the building automation system market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global building automation system market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
Industrial
Residential
Commercial
By Offerings
Facility Management Systems
Security and Access Controls
Fire Protection Systems
Building Energy Management Software
BAS Services
Others
By Component
Hardware
Software
By Region
North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
UAE
South Africa
Rest of LAMEA
Key Market Players
Honeywell International Inc.
Robert Bosch
Johnson Controls International plc
Mitsubishi Electric Corporation
ABB Ltd
Schneider Electric
Siemens AG
General Electric
Hubbell Inc
United Technologies Corporation
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