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.
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
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BUILDING AUTOMATION SYSTEM MARKET, BY COMPONENT
CHAPTER 5: BUILDING AUTOMATION SYSTEM MARKET, BY APPLICATION
CHAPTER 6: BUILDING AUTOMATION SYSTEM MARKET, BY OFFERINGS
CHAPTER 7: BUILDING AUTOMATION SYSTEM MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Building Automation System Market," the building automation system market size was valued at $75.8 billion in 2021, and is estimated to reach $194.9 billion by 2030, growing at a CAGR of 10% from 2022 to 2030.Building Automation System, also known as Energy Management Control Systems (EMCS) or Building Management Systems (BMS), are smart devices that pilot lighting, HVAC ventilation, fire protection systems and general building automation. Building automation systems are created to allow for the automatic and hands-free operation of the building's systems. They are frequently utilized in installations where the users are absent or communicating with the equipment via a digital interface or voice command. When a person is not there, a building automation system can operate anything from temperature and lighting to HVAC. These factors are anticipated to propel the building automation system market share in the coming years.
However, some of the disadvantages of building automation system market are the small equipment size because most building management systems do not have the capability to control smaller equipment, there will likely be significant blind spots. Most properties with a BMS have it installed primarily on the big loads, such as large HVAC equipment and lighting, due to the high expense to build, maintain, and operate it. Concentrating efforts on building systems that will have the biggest effects on operating costs and tenant satisfaction makes sense when resources are few.
Governments of various nations are providing industries with considerable incentives to use business automation technology. The Indian Government is urging various companies to implement business automation technology since it saves money and consumes less energy. Furthermore, during the forecast period, proactive government measures to encourage the adoption of BAS systems are anticipated to increase the building automation system market growth .
The global building automation system market analysis is segmented based on component, application, offerings, and region. By component, it is classified into hardware and software. By application, it is classified into industrial, residential, and commercial. By offerings, it is classified into facility management systems, security & access controls, fire protection systems, building energy management software, bas services, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the building automation system market report include Honeywell International Inc., Robert Bosch GmbH, Johnson Controls, Mitsubishi Electric Corporation, ABB, Schneider Electric, Siemens, General electric, Hubbell, and United Technologies Corporation
Impact of COVID-19 on the Global Building Automation System Industry
- The COVID-19 epidemic has positive impact the global intelligent building automation system sector by lowering long-term expenses. Intelligent heating, ventilation, and cooling systems are used in commercial buildings, which helps to cut down on energy waste.
- COVID-19 impacted almost all industries and the building automation system companies ceased their operations owing to the building controls from a central hub using a logic algorithm. It manages controls as per the direct inputs and present conditions that give rise to a smart building.
- COVID-19 building automation system retailers had evaluated their installation strategies and possibly considered the emerging do-it-with-me movement system. The governments of some nations have made the installation of touchless thermal scanners at the gates to residential communities, institutions, and commercial facilities mandatory.
Key Findings of the Study
- Based on component, the hardware sub-segment emerged as the global leader in 2021 and the software sub-segment is anticipated to be the fastest growing sub-segment during the forecast period
- Based on application, the commercial sub-segment emerged as the global leader in 2021 and the industrial sub-segment is predicted to show the fastest growth in the upcoming years
- Based on offerings, the security and access controls sub-segment emerged as the global leader in 2021 and the building energy management software sub-segment is anticipated to be the fastest growing sub-segment during the forecast period
- Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain the position during the forecast period
- The study also provides in-depth analysis of the building automation system market trends
Companies Mentioned
- 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
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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