PUBLISHER: 360iResearch | PRODUCT CODE: 1466257
PUBLISHER: 360iResearch | PRODUCT CODE: 1466257
[184 Pages Report] The Building Automation System Market size was estimated at USD 82.11 billion in 2023 and expected to reach USD 92.66 billion in 2024, at a CAGR 13.28% to reach USD 196.67 billion by 2030.
The building automation system market encompasses the sale, distribution, implementation, and management of systems designed to automate, control, and monitor a building's electrical and mechanical functions. The primary objective of building automation systems is to enhance operational efficiency, facilitate optimal resource utilization, and implement efficient energy management, ultimately ensuring significant cost savings. The rising focus for establishing energy-efficient and eco-friendly buildings is increasing the adoption of building automation systems. The surge in adoption of automated security systems in buildings & rapid penetration of IoT in building automation systems is also contributing to the market growth worldwide. However, high installation costs of building automation systems and presence of different communication protocols may limit the adoption of building automation systems in upcoming years. Moreover, the advancements in building technologies and automation with data analytics are generating opportunities for market growth. The rise in government and stakeholder funding for developing smart cities are expected to increase adoption of building automation systems. The development of wireless protocols and wireless sensor network technology for building automation systems is also expected to create growth potential in the market.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 82.11 billion |
Estimated Year [2024] | USD 92.66 billion |
Forecast Year [2030] | USD 196.67 billion |
CAGR (%) | 13.28% |
Component: Technology upgrades in building automation hardware & softwares
The hardware in building automation systems comprises the physical components such as controllers, sensors, actuators, output & input devices, and user interface devices, integral to the operation and functionality of the overall system. The hardware components primarily focus on the specific requirements of a building infrastructure to efficiently monitor and control the building's mechanical and electrical systems. The softwares in building automation systems serves as the central platform for managing and interacting with the system's hardware components. The software allows for seamless communication amongst the devices, as well as facilitating ease in inputting, outputting, processing, and storing data.
Offering: Ongoing enhancements in facility management systems
Building automation services primarily involve system integration, servicing, and maintenance operations, ensuring smooth and efficient running of building automation solutions. The building energy management software is designed to reduce energy usage, optimize performance and prolong the life of utilities. Facility management systems ensure an adequate working environment and prioritize the health and safety of occupants. Fire protection systems and security & access controls hold prime importance in terms of safety and security across all building types from fire hazards and unauthorized entrants.
Communication Technology: Rising adoption of wireless technology
Wired technology is the fixture in traditional building automation systems typically involving the use of Ethernet cables to establish a reliable communication network. The primary advantages of this network are its data security, minimal interference, and consistent high-speed connection. Wireless technology has brought in a surge of adaptability and flexibility within building automation systems, allowing remote control and management using technologies such as Wi-Fi, Bluetooth, Z-Wave, and Zigbee. The primary advantage of wireless technology in building automation systems involves its convenience, scalability, and cost-effectiveness.
Application: Diverse scope of applications in various end-users
Airports and railway stations often have vast structures which demand advanced building automation systems for seamless operations, enhancing energy efficiency, and centralizing control systems for cost savings. In commercial and office buildings, building automation systems primarily focus on aiding HVAC systems, reducing energy consumption and providing better control over building operations. Healthcare facilities require sophisticated systems to guarantee patient safety and comfort and efficiently manage ventilation, air conditioning, heating, and lighting solutions. Industrial facilities require high-performing building automation systems to manage intricate processes, ensure uninterrupted operations, and minimize waste. Building automation systems in residential buildings focus primarily on enhancing comfort, managing energy consumption, and securing homes.
Regional Insights
In the Americas region, the demand for building automation systems has risen substantially in major countries including the United States, Canada, Brazil and Mexico. The Americas region shows significant growth potential due to the strong presence of key players, committed to developing technologically advanced building automation systems. In European countries, strict guidelines towards climate control and energy conservation have motivated the rapid uptake of building automation systems. In major countries such as Germany, France, and the UK, the private sector have introduced initiatives focused on retrofitting existing buildings with modern technology for improved energy efficiency and waste reduction. High temperatures and climate conditions have made effective energy regulation a key concern in Middle-East countries thereby influencing purchasing behavior in the region. Accelerating urban growth and the increasing middle-class population are driving customer needs and purchasing behavior of building automation systems in the APAC region. Countries such as China, India, and Japan are driven by rapid urbanization and increasing environmental concerns, showing positive trends in implementing green, cost-effective technologies.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Building Automation System Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Building Automation System Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Building Automation System Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Bajaj Electricals Limited, Bosch Sicherheitssysteme GmbH, Building LogiX, Carel Industries S.p.A., Carrier Global Corporation, Cisco Systems, Inc., Crestron Electronics, Inc., Delta Electronics, Inc., Emerson Electric Co., Fuji Electric Co., Ltd., General Electric Company, Google LLC by Alphabet Inc., Hitachi Ltd., Honeywell International Inc., Huawei Technologies Corporation, Hubbell Inc., Ingersoll Rand, Johnson Controls International PLC, KMC Controls, Inc., Koninklijke Philips N.V., Larsen & Toubro Limited, Lutron Electronics Co. Ltd, Mitsubishi Electric Corporation, Robert Bosch GmbH, Schneider Electric SE, Siemens AG, and Trane Technologies PLC.
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Building Automation System Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Building Automation System Market?
3. What are the technology trends and regulatory frameworks in the Building Automation System Market?
4. What is the market share of the leading vendors in the Building Automation System Market?
5. Which modes and strategic moves are suitable for entering the Building Automation System Market?