Market Research Report
Building Automation System Market with COVID-19 Impact by Communication Technology, Offering (Facility Management Systems, Security and Access Controls, and Fire Protection Systems), Application, Region - Global Forecast to 2026
|Building Automation System Market with COVID-19 Impact by Communication Technology, Offering (Facility Management Systems, Security and Access Controls, and Fire Protection Systems), Application, Region - Global Forecast to 2026|
Published: February 26, 2021
Content info: 224 Pages
Delivery time: 1-2 business days
The global building automation system market size is projected to grow from USD 73.5 billion in 2021 to USD 112.1 billion by 2026; it is estimated to grow at a CAGR of 8.8% during the forecast period. The growth of the building automation system market is fueled by the increasing requirement of energy-efficient facilities with enhanced security systems. Besides this, advancements in wireless communication technologies have lessened the complexity and the cost of installing building automation systems in the existing buildings. The combination of IoT and building automation has also enabled the exchange of information among several electronic devices and the cloud without the requirement of direct human intervention that makes buildings smart. This factor has also accelerated the growth of the building automation system market.
"Security and access controls to lead the building automation system market during the forecast period"
Security and access control systems have become an integral part of the safety and security systems of buildings and their occupants. They have revolutionized building security and eliminated human intervention. These systems are installed in buildings to increase the security level, monitor activities and movements of people, and keep a record of people entering and exiting buildings. Several businesses make use of these systems for protecting their assets, staff, and information; monitoring activities in buildings; and controlling access to buildings.
"Commercial application segment to hold largest size of building automation system market from 2021 to 2026"
The surging deployment of building automation systems in large shopping complexes, office buildings, and public transport hubs, such as airports and railway stations, drives the growth of the building automation system market for commercial application. HVAC controls, lighting controls, and security and access controls are the key systems used in commercial applications. Of these, security and access controls have become an integral part of commercial buildings owing to the rising security concerns across the world.
"North America to account for large size of building automation system market in 2020"
North America is one of the most developed regions in the world. It is also a leading market for building automation systems. The region accounted for a major share of the building automation system market in 2020. The rising requirement of energy management and the increasing demand for green homes have resulted in the growth of the building automation system market in North America. The market in North America has been studied for the US, Canada, and Mexico. Government organizations in countries of the region work together for efficient and clean production and use of energy.
The key players in the market include Johnson Controls (Ireland), Schneider Electric (France), Carrier (US), Siemens AG (Germany), and Honeywell International (US).
The building automation system market is segmented into offering, communication technology, application, and regions. Based on hardware offering, the market has been segmented into facility management systems, security and access controls, fire protection systems, building energy management software, bas services, and others. Based on communication technology, the market has been classified into wired technology and wireless technology. The report covers three types of applications: commercial, industrial, and residential. The report covers four major geographic regions: North America, Europe, APAC, and RoW.