[Latest] Global Building Automation Systems Market Size, Forecast, Analysis & Share Surpass US$ 197.5 Billion By 2032

Global Building Automation Systems Market was at US$ 70.8 Bn in 2022 and is growing to approx US$ 197.5 Bn by 2032, with a CAGR growth of 11.2%, 2023 and 2032.

AUSTIN, TEXAS, UNITED STATES, November 22, 2023 /EINPresswire.com/ -- According to the study, The Global Building Automation Systems Market was estimated at USD 70.8 Billion in 2022 and is anticipated to reach around USD 197.5 Billion by 2032, growing at a CAGR of roughly 11.2% between 2023 and 2032.

Report URL: https://www.custommarketinsights.com/report/building-automation-systems-market/

Global Building Automation Systems Market: Overview

The use of Building Automation Systems (BAS) is becoming more and more crucial, for managing and controlling building systems. These systems include heating, ventilation, air conditioning (HVAC) lighting, security and fire protection.

Global Building Automation Systems Market: Growth Drivers

Building Automation Systems Market: Growth Factors and Dynamics

Smart Building Trend: The Building Automation Systems (BAS) market is on an upward trajectory due to the increasing demand for smart buildings. These systems enhance energy efficiency, security, and occupant comfort in commercial and residential structures.

Energy Conservation: BAS plays a crucial role in reducing energy consumption by optimizing HVAC, lighting, and other systems. As sustainability becomes a global priority, energy conservation is driving the adoption of BAS.

Integration of IoT: The integration of the Internet of Things (IoT) in BAS allows for real-time monitoring, control, and data analytics, enabling smart decision-making and predictive maintenance.

Environmental Regulations: Stringent environmental regulations and green building standards are compelling building owners and developers to implement BAS to meet energy and environmental goals.

Enhanced Comfort and Productivity: BAS enhances the comfort and productivity of building occupants through personalized climate control, lighting adjustments, and automated security measures.
Cost Savings: The automation of building systems leads to significant cost savings in terms of energy, maintenance, and operational efficiency.

Security and Safety: BAS includes features such as access control, fire detection, and surveillance systems, which contribute to building security and safety.

Retrofitting and Upgrades: The retrofitting of older buildings with modern BAS is a growing trend, as it allows existing structures to become smarter and more energy-efficient.

Urbanization and Infrastructure Development: Rapid urbanization and infrastructure development projects are driving the demand for BAS in commercial complexes, airports, healthcare facilities, and government buildings.

Technological Advancements: Continuous technological advancements in BAS, including cloud-based solutions and artificial intelligence, are expanding the market’s capabilities and applications.

Pandemic-Driven Changes: The COVID-19 pandemic has accelerated the adoption of touchless and contactless solutions in building automation, such as touchless access control and air quality monitoring.

Resilience and Disaster Preparedness: Building owners and operators are increasingly investing in BAS to enhance building resilience against natural disasters and emergencies, ensuring continuity of operations.

Demand for Data Centers: The growth of data centers and the need for efficient cooling and power management systems are boosting the adoption of BAS in this sector.

Global Expansion: The BAS market is expanding globally, with emerging economies recognizing the value of automation in infrastructure development.

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Key Insights:

A) As per the analysis shared by our research analyst, the Global Building Automation Systems Market is estimated to grow annually at a CAGR of around 11.2% over the forecast period (2023-2032).
B) In terms of revenue, the Global Building Automation Systems Market size was valued at around USD 70.8 Billion in 2023 and is projected to reach USD 197.5 Billion by 2032. Due to a variety of driving factors, the Market is predicted to rise at a significant rate.
C) United Technologies Corporation’s Merger with Raytheon (2020): United Technologies Corporation (UTC), a major player in the building automation and aerospace industries, merged with Raytheon to form Raytheon Technologies. While not a direct acquisition in the building automation sector, this merger combined UTC’s expertise in building systems with Raytheon’s defense and aerospace capabilities, potentially leading to innovations in smart building technologies.
D) ABB Ltd.’s Acquisition of GE Industrial Solutions (2018): ABB Ltd., a multinational corporation specializing in robotics, power, and automation technology, acquired GE Industrial Solutions, which included a range of electrical distribution and automation products. This acquisition expanded ABB’s offerings in the building automation sector, allowing for more comprehensive solutions for customers.
E) Remote Work Adaptations: Building owners sought BAS solutions that accommodate flexible work arrangements and provide safe and comfortable environments for remote and on-site workers.
F) Remote Monitoring: COVID-19 emphasized the importance of BAS’s remote monitoring and control capabilities, enabling building operators to manage systems without physical presence.

Press Release For Global Building Automation Systems Market: https://www.custommarketinsights.com/press-releases/building-automation-systems-market-size/

Regional Landscape

North America:

United States and Canada: North America has a mature BAS market driven by a focus on energy efficiency, sustainability, and technological innovation. Regulatory support, a robust commercial sector, and a commitment to smart building concepts contribute to market growth. The need for energy-efficient buildings and a high level of awareness about BAS technologies make this region a significant player in the market.

Europe:

Western Europe: Countries like Germany, France, and the UK are leaders in building automation adoption. A strong emphasis on sustainability, stringent energy efficiency standards, and a well-established commercial real estate sector drive the demand for BAS. European nations are actively pushing for green and sustainable building practices, which has resulted in widespread adoption of automation technologies.

Eastern Europe: Eastern European countries are experiencing growth in the BAS sector as they modernize their infrastructure and adopt energy-efficient technologies. As the region continues to develop, the demand for BAS in both commercial and residential buildings is expected to rise.
Asia-Pacific:

China: China’s rapid urbanization and focus on smart cities have led to a growing BAS market. The construction of new buildings and the retrofitting of existing ones with smart technologies support market expansion. China’s government has introduced policies to encourage energy efficiency and green building practices, further fueling the adoption of BAS.

India: India’s market for building automation is on the rise as the country seeks sustainable and energy-efficient solutions for its growing urban population. The Indian government’s initiatives to promote green buildings and smart cities are driving BAS adoption.

Southeast Asia: Countries like Singapore, Indonesia, and Malaysia are adopting BAS as they invest in smart building infrastructure. Improved internet access and a youthful population make these markets attractive for growth.

Latin America:

Brazil: Brazil’s market for building automation systems is expanding as the country develops its infrastructure and prioritizes energy efficiency. An emphasis on sustainable construction practices, combined with economic growth, is driving the demand for BAS in commercial and residential buildings.

Middle East and Africa:

Middle East and Gulf States: The Middle East is investing in BAS to enhance building efficiency and sustainability as part of its urban development initiatives. The adaptability of BAS to extreme climatic conditions in arid regions makes them particularly suitable for use in the Middle East.

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Key Players

Siemens AG
Johnson Controls
Schneider Electric
Honeywell International Inc.
United Technologies Corporation
ABB Ltd.
Eaton Corporation
Delta Controls
Crestron Electronics
Lutron Electronics
Others

The Global Building Automation Systems Market is segmented as follows:

By Product Type Analysis

Hardware
Sensors
Controllers
Output Devices
User Interface
Software

By Application Analysis

HVAC Systems
Safety and Security Systems
Energy Systems
Sanitization Systems
Others (Vents, Pumping Systems)

By End User Analysis

Residential
Commercial
Offices Buildings
Institutional Facilities
Healthcare Facilities
Hotels and Restaurants
Retail Stores
Others (Auditoriums, Museums, Galleries)

By End User vs. Area Size Analysis

Residential
Up to 3,000 sq. ft.
3,000 to 10,000 sq. ft.
Above 10,000 sq. ft.
Commercial
Less than 25,000 sq. ft.
25,000 to 100,000 sq. ft.
Above 100,000 sq. ft.
Industrial
Below 50,000 sq. ft.
50,000 to 200,000 sq. ft.
Above 200,000 sq. ft.

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
Global India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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