Building Automation Systems Market to Grow with Robust Growth

DUBAI, United Arab Emirates, July 26 2022 (GLOBE NEWSWIRE) — The global building automation systems market is expected to reach a valuation of US$44.6 billion in 2021. Once the initial impacts of COVID-19 are fully countered, the market is expected to grow. at a robust CAGR of 7.8% through 2031.

The growing development of smart cities and connection technologies including the Industrial Internet of Things (IIoT) will continue to augment the market growth with the US, UK, Germany and Japan becoming major producers over the assessment period.

There is a significant increase in the demand for building automation systems (BAS) across the world. The market has grown tremendously over the past few years with a CAGR of 5.7%.

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Key points to remember

  • Several advances in the BAS industry have propelled its adoption in small to mid-sized buildings and the trend is expected to prevail in the coming years.
  • Tremendous improvements have been seen in the building automation system market in recent years with the aim of providing optimum safety and comfort to occupants.
  • Since traditional technologies have now taken the backseat, market players are focusing on launching new technologies and connection systems to facilitate advanced automation metrics.
  • Backed by advanced technological factors, the building automation system market is expected to witness lucrative growth prospects over the forecast period.
  • Rapid urbanization in various developed and developing economies offers lucrative growth opportunities to create sophisticated smart cities.
  • The North American region is expected to become a dominant market with a growth rate of CAGR 7.2 during the forecast period.

Competitive landscape

Honeywell International, Schneider Electric, Siemens AG, ABB, Johnson Controls, Plc, Delta Electronics, Inc., Eaton Corporation, Bosch Rexroth, Emerson, AVASGLO Group, Signellent Technologies (India) Pvt. Ltd., Comnatz Thailand Company Ltd, Deos AG, MCS Automation Technology Company Ltd., Philips Lighting are some of the key companies profiled in the full version of the report.

As part of their growth strategies, the major players operating in the global building automation systems market are emphasizing product development, intensive research and development, and strategic collaborations, mergers, and acquisitions to s to establish a firm foothold in the market.

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More insights into the building automation systems market

Due to the rapid expansion of the commercial and residential sector in the United States, it is expected to dominate the building automation system market in the North American region with a healthy CAGR of 7.2% CAGR during the period forecast.

The emergence of innovative technological solutions in industrial and commercial processes is one of the major factors driving the sales of building automation systems in the United States. Additionally, growing concerns over excessive energy consumption in various industries are propelling the implementation of building automation systems.

The regulations imposed by the European Union to promote energy efficiency are likely to drive the growth of the building automation systems market. The European building automation systems market is expected to grow at a healthy CAGR of 7.0% in the coming years.

Building automation systems pave the way for educational institutions and tourist attractions such as museums, art galleries and amusement parks, where power supply and energy consumption are controlled by BAS .

In the face of growing environmental concerns over pollution, the Chinese government is emphasizing the development of green buildings across the country. The main players in the Chinese market offer innovative and sophisticated BAS solutions to reduce excessive energy consumption.

In addition to commercial spaces, the demand for comfort from city dwellers is also driving sales of building automation systems.

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Building Automation Systems Market by Category

By product type:

By type of system:

  • Security Monitoring
  • HVAC
  • Lighting solutions
  • BEMS (Building Energy Management)

By type of application:

  • Commercial
  • Residential
  • Government

By region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa

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About FMI – Industrial Automation

FMI’s Industrial Automation Division offers distinct and insightful industry analysis. This comprehensive coverage covers commodities, bulk, specialties, composites and nanotechnology, with particular emphasis on “green alternatives, recycling and renewable technology developments and assessing supply, demand and trade. Our research studies serve as benchmarks for market guidelines for manufacturers, research institutes, distribution partners and government development agencies.

Contents

1. Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply-side trends

1.4. Technology roadmap

1.5. Analysis and recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limits

3. Key Market Trends

3.1. Key trends impacting the market

3.2. Product Innovation / Development Trends

4. Key success factors

4.1. Product Adoption / Usage Analysis

4.2. USP/Product Features

4.3. Strategic promotional strategies

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