Building Automation Systems Market 2023 Trends, Top Industry Players and Future Trend and Outlook by 2032

Market Overview:

Building automation systems are used to control lighting, ventilation, power systems and other systems in buildings and industrial plants. They provide centralized monitoring and control of a building's electromechanical and security systems like heating, ventilation and air conditioning (HVAC), lighting and security.

The global building automation systems market was valued US$ 69.64 Bn in 2019 and expected to reach US$ 153.43 Bn by 2027.

Market Dynamics:

The building automation systems market is expected to witness significant growth over the forecast period owing to increasing demand for energy management solutions in buildings. Building automation systems help optimize energy usage by integrating lighting control systems, HVAC control systems security and access control systems. They can intelligently adjust lighting, temperature and other building systems based on occupancy levels and daylight levels to reduce energy consumption. Furthermore, growing construction activities across both residential and commercial sectors are also expected to drive the demand for building automation systems for efficient building operations. Supportive government policies and regulations regarding energy consumption in buildings will further boost the adoption of building automation systems during the forecast period.

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Increasing Deployment of Green Buildings is Driving the Demand for Building Automation Systems

One of the major drivers for the growth of the building automation systems market is the increasing deployment of green buildings across the world. Green buildings aim to reduce the negative impact of the built environment on the natural environment by enhancing energy and water efficiency. Building automation systems play a key role in helping green buildings achieve their sustainability goals by enabling centralized remote monitoring and control of various building systems such as heating, ventilation, air conditioning, lighting and security. This allows building owners and facility managers to optimize resource usage, reduce energy costs and lower carbon footprint of buildings. Many countries now offer incentives and rebates for deployment of green building technologies including building automation systems to encourage sustainability. This is expected to drive higher adoption of building automation systems in both public and commercial buildings in the coming years.

Rise of Smart and Connected Homes is Another Key Driver

The rise of smart and connected home concepts is another major driver fueling the growth of the building automation systems market. Home automation systems allow remote monitoring and control of key home devices over the internet. This provides added convenience and safety to homeowners. The availability of affordable home automation solutions coupled with the growing popularity of IoT is increasing consumer interest in smart homes. Many building automation system manufacturers are introducing solutions tailored for residential applications to capitalize on this growing demand. The increased focus of major technology companies on developing AI-enabled smart home solutions is also driving wider market penetration of building automation systems globally. The smart home market is expected to grow significantly in the next decade presenting lucrative opportunities for building automation vendors.

Top Key Players:

Automated Logic Corporation, AT&T Inc., Honeywell International Inc., Johnson Controls International Plc., Schneider Electric SE, Hubbell Inc., ABB Ltd., Beckhoff Automation GmbH & Co. KG, Ingersoll-Rand Plc, Bosch Sicherheitssysteme GmbH, and Siemens AG.

Detailed Segmentation:

Global Building Automation Systems Market, By System:
Security & Surveillance
HVAC
Lighting Solutions
Building Energy Management
Others

Global Building Automation Systems Market, By Application:
Commercial
Residential
Government
Others

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Interoperability Issues Pose a Challenge

A major restraint hampering faster adoption of building automation systems is the lack of interoperability between various systems and devices from different vendors. Building automation systems involve integration of controls for several building infrastructure elements like HVAC, lighting, security etc. Achieving seamless interoperability between systems from multiple vendors remains a challenging task. The use of non-standard proprietary protocols by some vendors creates interoperability issues which lead to compatibility problems. This negatively impacts customer experience and satisfaction levels. Addressing interoperability challenges through adoption of open communication protocols is necessary to improve system integration capabilities. Standardization efforts are currently underway but progress has been slow so far. Overcoming interoperability hurdles through collaborative actions is important for sustained market growth of building automation systems.

Advent of IoT Presents an Opportunity

The ongoing advancements in IoT, cloud computing and analytics represent significant growth opportunities for the building automation systems market. Integration of IoT enables improved remote connectivity of building automation systems to allow centralized monitoring and control of building infrastructure from any location. Cloud-based building management platforms provide real-time data analytics that help optimize building operations, enhance energy management and reduce costs. IoT also enables predictive maintenance of building systems through condition monitoring. Incorporating advanced technologies like AI and machine learning to IoT enabled building automation solutions can further improve operational efficiency. The large-scale adoption of smart buildings and smart cities concepts also creates new areas for deployment of innovative automation solutions. Leveraging capabilities of emerging technologies effectively through productive vendor alliances represents a major opportunity for market expansion.

Adoption of Wireless Systems is the Current Market Trend

The development and adoption of advanced wireless communication protocols is a notable trend in the building automation systems market. The shift from traditional wired systems to wireless solutions is currently a hot area of activity. Wireless protocols like EnOcean, ZigBee, Bluetooth, WiFi and LPWAN technologies provide much greater flexibility in system design and installation. This addresses challenges of installing cabling infrastructure in existing built facilities. Wireless systems also enable retrofitting of automation capabilities easily without requirement of rewiring. They offer significant benefits in terms of speed of deployment, flexibility in system expansion and cost savings. Major building automation players are introducing new wireless product lines catering to both commercial and residential markets. The widespread use of wireless systems for lighting controls, HVAC, security and access is expected to continue growing in the foreseeable future.

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Key Questions Addressed in the Market Report:

What is the expected size, share, and CAGR of the Building Automation Systems Market over the forecast period?
What are the key trends expected to influence the Building Automation Systems Market between 2023 and 2030?
What is the expected demand for various types of products/services in the Building Automation Systems Market?
What long-term impact will strategic advancements have on the Building Automation Systems Market?
Who are the key players and stakeholders in the Building Automation Systems Market?
What are the different segments and sub-segments considered in the Building Automation Systems Market research study?

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