Global Building Automation Systems Market to Reach $181 Billion by 2030
The global market for Building Automation Systems estimated at US$99.2 Billion in the year 2023, is expected to reach US$181 Billion by 2030, growing at a CAGR of 9% over the analysis period 2023-2030. Security & Access Control Systems, one of the segments analyzed in the report, is expected to record a 8.7% CAGR and reach US$50.3 Billion by the end of the analysis period. Growth in the Facility Management Systems segment is estimated at 8.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $26 Billion, While China is Forecast to Grow at 12.7% CAGR
The Building Automation Systems market in the U.S. is estimated at US$26 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$44.5 Billion by the year 2030 trailing a CAGR of 12.7% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.1% and 8.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5.9% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$26.5 Billion by the year 2030.
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