Building Automation Systems Market

Building Automation Systems Market Outlook (2023-2033)

The building automation systems market is estimated to be valued at US$ 1,06,833.8 Mn in 2023 and forecasted to reach US$ 3,04,253.6 Mn by the end of 2033. The market for building automation systems is predicted to grow at a CAGR of 11.0% from 2023 to 2033.

Any infrastructure must have a reliable building automation system. Monitoring, security, mechanical, humidity, fire, and lightning control systems all depend on it. For autonomous buildings, the building automation system is beneficial. The system can manage the facilities of the entire building.

The global market for building automation systems has been driven by rising security concerns, rising government and private sector initiatives, and the growing popularity of the Internet of Things. Automated building security systems are becoming more common in recent years.

The market's expansion will be slowed by a number of obstacles and constraints. Building automation system's high installation costs are one major constraint. Additionally, over the forecast period, government initiatives aimed at lowering carbon emissions and increasing energy efficiency are likely to present lucrative growth opportunities.

The market for building automation systems was valued at US$ 97,654.3 Mn in 2022. In terms of the regional market landscape, the market in North America held a leading market share of 28.6% in the global landscape in 2022 and is expected to retain its leading position throughout the forecast period. Meanwhile, demand for building automation systems in the Europe region will hold around 23.3% of the market in 2022.

Which Factors Influence Most to Drive the Growth in Building Automation Systems Market?

“Growing Deployment Influences Building Automation”

The increase in building computerization frameworks in places of business, shopping centers, and public transportation centers, for example, train stations and air terminals, is expected to fuel the development of the structure mechanization and control framework market. Lighting controls, security and access control systems, and business sectors are the most commonly used items in the home, business, and commercial sectors. As security concerns have grown across all industries, security and access control systems have become essential to a number of industrial verticals.

• In May 2022, the latest addition to Johnson Controls-Hitachi's PRIMARY P300 line of high-efficiency, single-zone commercial mini-split systems is a Wall Mount indoor mini-split unit. This ductless heating and cooling system was designed to meet the specific needs of small to medium-sized businesses, restaurants, and educational facilities, among others. The new wall mount unit is small and light, and the Hitachi PRIMARY mini-split systems in general can be mounted in a variety of ways, making it easier for contractors to install them. A system's extensive capacity range ensures that it is precisely the right size for any application, and its long pipe increases layout flexibility.
• In September 2022, Fire-lite, a line of fire protection systems intended for small and medium-sized businesses, was recently introduced by Honeywell International in Australia. Australia-wide mid-rise residential, retail, and warehouse buildings. Fire-Lite's customizable and shrewd addressable fire boards are intended to meet a scope of building necessities by giving adaptable answers for help various establishments.

Why in U.S Security and Surveillance System will boost the Demand of Building Automation Systems Market?

“Improvement in the Safety and Security”

The security and safety of buildings are enhanced by these solutions. The need for access control, activity monitoring, and higher levels of security has led to an increase in the demand for security and surveillance systems. The majority of the growth of the segment in the global market can be attributed to the commercial use of these systems in offices, shops, schools, and hospitals.

The reason for the segment's expansion is the widespread use of video surveillance and access control systems in homes, businesses, government buildings, and financial institutions. Due to these the building automation systems market was estimated to have the largest market share of 17.5% in 2022.

In India why Adoption is increased in Building Automation Systems Market?

“Technological Advancement in ML and IoT”

Smart cities are getting more and more support from government agencies all over the world, and smart buildings are expected to become mainstream soon. New technologies like Wi-fi and the Internet of Things (IoT) are being incorporated into current building automation and control systems as a result of significant technological advancements. The global market for building automation and control systems is expected to expand thanks to advancements in cloud computing, machine learning, artificial intelligence, and connectivity technologies.

Due to these building automation systems market in India is estimated to grow at a CAGR of 10.4% over the forecast period in India.

In Building Automation Systems Market in Europe, Which Country will create more Opportunities?

“Development of Smart Cities”

Germany is one of the most significant country in Europe holding the largest share of 12.3% in the European building automation systems market. The market for smart buildings and homes has pushed for more energy-efficient, safer, and easier-to-use access controls. It is anticipated that it will be the basis for intelligent buildings in future smart cities, making it the next great opportunity for leaders in the industry to pursue. It connects smart building technology to other systems like lighting management and HVAC. The growing acceptance of smart city projects presents attractive opportunities in the market for building automation and controls.

Category-wise Insights

In System Segment, Building Energy Management showing larger share market in Building Automation Systems Market?

“Rising Demand for Sustainable Management of Energy Sources”

The building energy management segment is expected to hold a higher share of the market accounting for more than 29.3% of the market share in 2022. The goal of building energy management is to provide a centralized platform for controlling a building's energy use. It aids in the efficient use of energy and eliminates wasteful energy use.

The temperatures, occupancy, security, and lighting are all controlled by the system through the use of sensors. This helps cut down on energy waste and save money on electric bills. Consequently, building energy the executives has turned into a fundamental piece of building mechanization frameworks market.

Why Demand has increased for Commercial Segment in Building Automation Systems Market?

“Rising Demand for Saving Energy Due to the Volatile Cost of Energy Sources”

Building automation systems can regulate a building's heating and cooling, lighting, appliances, and other energy requirements to maximize energy efficiency and worker productivity, according to a government organization. This means that commercial buildings waste energy and can save it. As a result, these solutions are being implemented by commercial buildings, such as shopping malls, supermarkets, warehouses, restaurants, office buildings, colleges, schools, libraries, museums, hospitals, and nursing homes, to reduce the costs of building management.

Due to these the building automation market for commercial was estimated to have the largest market share of 32.1% in 2022.

Competitive Landscape

The global Integrated building automation systems market's key players are focusing on business strategies such as product expansion. Companies involved in building automation systems are aiming for product innovation and strategic partnerships with other vendors to enhance their portfolios while addressing the demand of an expanding customer pool. The introduction of new products and strategic partnerships are key in this landscape.

• In May 2022, Building connect+, an enhanced version of the cloud-based controls and monitoring platform, has been made available by Mitsubishi Electric Trane HVAC US, a leading manufacturer of ductless and ducted mini-split as well as variable refrigerant flow (VRF) heat-pump and air conditioning systems. Building connect is a cloud-based, pre-engineered, secure control and monitoring platform for controlling and managing BACnet-enabled third-party devices and city multi systems.
• In March 2022 - Hitachi Elevator Co. Ltd., a joint venture between Hitachi Ltd. and Siam Motors Group, Thailand's sole elevator and escalator sales and Service Company, announced the first-ever full-scale Smart Building Solution business in Thailand and Southeast Asia. Using the Lumada IoT platform, this aims to add value to buildings by providing digital services and a physical security system for the new normal.

Recent developments related to key players providing Building Automation Systems Market have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

Building Automation Systems Market Report Scope

Key Segments of Building Automation Systems Market Research

By System:

• Security and Surveillance
• HVAC
• Lighting Solutions
• Building Energy Management
• Others

 By Application:

• Commercial
• Residential
• Government
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)

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