New York, USA, June 27, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), Building Automation System Market Information By Offering, Communication Technology, Application, and Region - Forecast till 2030”, Market could thrive at a rate of 11.4% between 2022 and 2030. The market size will be reaching around USD 164.4 billion by the end of the year 2030
Building Automation System Market Synopsis
A building automation system (BAS) is a centralized control system that enables the automation and monitoring of various building functions, including heating, ventilation, air conditioning (HVAC), lighting, security, and energy management. BAS integrates different systems and technologies to enhance building efficiency, occupant comfort, and sustainability. It offers real-time monitoring, remote access, and intelligent control, allowing building owners and facility managers to optimize operations, reduce energy consumption, and improve overall building performance.
The uses and applications of building automation systems are diverse. They are extensively used in commercial buildings, industrial facilities, hospitals, educational institutions, and residential complexes. BAS plays a crucial role in optimizing energy usage, maintaining indoor air quality, managing lighting systems, and ensuring the security and safety of occupants. It offers advanced features such as occupancy sensors, smart thermostats, and integrated control panels that enable seamless and efficient building management.
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Building Automation System Market Competitive Landscape:
The affluent companies in the Building Automation System include
- Siemens AG
- Johnson Control
- Schneider Electric
- Carrier
- Robert Bosch
- Legrand
- Hubbell
- ABB
- Trane Technologies
- Lutron Electronics
- Creston Electronics
Latest Industry Updates (May 2023)
Schneider Electric introduced a new smart building management system in May 2023. The system incorporates advanced artificial intelligence algorithms and cloud connectivity to enable predictive analytics, proactive maintenance, and energy optimization. This development highlights the ongoing efforts of market players to enhance the capabilities of BAS and deliver intelligent, data-driven solutions for building management.
Report Scope:- Building Automation System Market:
| Report Metric | Details |
| Revenue Forecast in 2030 | USD 164.4 billion |
| Growth Rate | CAGR of 11.4% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2023-2030 |
| Key Market Opportunities | Rising government spending towards smart cities development |
| Key Market Drivers | Rising need for energy-efficient structures Progress in cloud computing and machine learning High demand for network infrastructure and safety systems |
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Building Automation System Market USP Covered:
Market Drivers:
Several factors drive the growth of the building automation system market. Firstly, the increasing focus on energy efficiency and sustainability is a significant driver. BAS allows precise control and monitoring of energy-consuming systems, optimizing their performance and reducing energy waste. With the rising concerns over climate change and environmental impact, building owners and operators are adopting BAS to achieve energy savings and meet sustainability goals. Secondly, the growing need for operational efficiency and cost reduction is driving the adoption of BAS. Automation and centralized control streamline building operations, reduce manual intervention, and enable proactive maintenance, resulting in improved efficiency and cost savings. Additionally, the increasing demand for smart buildings and the integration of Internet of Things (IoT) technologies are boosting the market growth.
Market Restraints:
There are certain restraints in the building automation system market. The high upfront costs associated with the installation and implementation of BAS can be a barrier, particularly for small and medium-sized buildings. Lack of awareness and technical expertise to deploy and manage complex BAS solutions can also impede market growth. Moreover, interoperability challenges and integration complexities when dealing with legacy systems may pose challenges for seamless deployment and integration of BAS in existing buildings.
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COVID 19 Analysis
The COVID-19 pandemic has had a mixed impact on the building automation system market. On one hand, the pandemic has heightened the importance of indoor air quality, occupant comfort, and health and safety measures in buildings. This has led to increased interest in BAS solutions that can enable effective ventilation, air filtration, and touchless control systems. On the other hand, the pandemic has disrupted construction activities and delayed building projects, affecting the demand for new installations. Post-COVID, the market is expected to witness steady growth as the focus on healthy and sustainable buildings intensifies.
Building Automation System Market Segmentation
- By Offering- By offering in the market include Facility Management System, Security & Access Controls Fire Protection Systems, BEM Software, and BAS Services
- Communication Technology - By communication technology in market include Wireless Technology and Wired Technology
- By Application - By application in market Commercial, Residential, and Industrial
Building Automation System Market Regional Insights
North America's strong market presence can be attributed to its advanced infrastructure and robust regulatory environment. The region has well-established commercial buildings, smart cities, and a high adoption rate of advanced technologies. Stringent energy regulations and sustainability targets imposed by governments and organizations further drive the demand for building automation systems in North America. The increasing focus on optimizing energy consumption, reducing carbon footprint, and enhancing occupant comfort and safety contribute to the region's significant market share.
Europe, on the other hand, is driven by government initiatives and policies that promote energy-efficient buildings and sustainable construction practices. The region has set ambitious targets for reducing greenhouse gas emissions and increasing energy efficiency in buildings. Building automation systems play a crucial role in achieving these objectives by optimizing energy usage, monitoring environmental parameters, and integrating renewable energy sources. The emphasis on green building certifications, such as LEED and BREEAM, also encourages the adoption of building automation systems in Europe.
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The Asia Pacific region is experiencing rapid growth in the building automation system market due to several factors. The region's expanding construction industry, particularly in countries like China and India, is driving the demand for advanced building automation solutions. The rising urbanization rates, increasing disposable income, and changing lifestyle preferences are fueling the demand for smart and connected buildings in the Asia Pacific. Moreover, governments in the region are actively promoting sustainable development and green building initiatives, creating favorable conditions for the adoption of building automation systems.
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