Building Automation Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Building Automation Systems Market is expected to reach a value of USD 277.68 billion by 2027, registering a CAGR of 11.7% over the forecast period. A building automation system (BAS), also referred to as a building control system or a building management system, is a system that controls several electric, electronic, and mechanical systems throughout a building. The market report tracks the revenue accrued by the companies through the sale of building automation solutions worldwide. Components like building management systems, lighting controls, fire detection, HVAC controls, and security systems are included in the scope of the study and span across end users like residential and commercial.
Key HighlightsThe Building Automation Systems Market is fragmented, with major players like Honeywell International Inc., Cisco Systems Inc., Trane Technologies, Lutron Electronics Co. Ltd, and Hubbell Inc. Companies are also increasing their market presence by introducing new products, expanding their operations, or by entering into strategic mergers and acquisitions.
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