Building Automation System Market Size, Share, Trends And Report By 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Building Automation System Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $159.69 billion In 2028 At A CAGR Of 12.3% :

The building automation system market size has grown rapidly in recent years. It will grow from $90.28 billion in 2023 to $100.57 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to energy efficiency and cost savings, government regulations and incentives, demand for smart buildings, occupant comfort and well-being, integration of building systems.

The building automation system market size is expected to see rapid growth in the next few years. It will grow to $159.69 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to rapid urbanization and smart city initiatives, emphasis on sustainability and green buildings, integration with cloud and edge computing, remote monitoring and control, cybersecurity measures. Major trends in the forecast period include rapid adoption of iot and edge computing, focus on energy efficiency and sustainability, integration of artificial intelligence (ai) and machine learning (ml), enhanced cybersecurity measures, cloud-based solutions and remote accessibility.

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Building Automation System Market Major Segments
The building automation system market covered in this report is segmented -
1) By Component: Hardware, Software
2) By Offerings: Facility Management Systems, Security And Access Controls, Fire Protection Systems, Building Energy Management Software, Building Automation System Services, Other Offerings
2) By Technology: Wireless Technology, Wired Technology
4) By Application: Industrial, Residential, Commercial

Key Driver - Construction Boom Sparks Surge In Building Automation System Market

Increasing construction activities is expected to boost the growth of the building automation system market. Construction activity refers to the process of building or assembling physical structures, such as buildings, roads, bridges, and other infrastructure projects. As construction activities increase, there is likely to be a corresponding increase in demand for building automation systems (BAS). Implementing automation solutions can minimize administrative burdens on engineering personnel and assist construction managers in becoming more productive in these critical areas. For instance, as per the data published by the Office for National Statistics, a UK-based recognized national statistics institute, when compared to 2021, annual construction production increased by 5.6% in 2022. Therefore, increasing construction activities are driving the growth of the building automation system market.

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Prominent Trend - Daikin Applied Americas Inc. Elevates Building Automation With Siteline Is A Breakthrough In Cloud-Based Hvac Control Technology

Technological advancements have emerged as a key trend gaining popularity in the building automation system market. Major companies operating in the building automation systems market are developing innovative technologies to strengthen their position in the market. For instance, in January 2022, Daikin Applied Americas Inc., a US-based company that designs, manufactures, and distributes heating, ventilation, and air conditioning systems, launched SiteLine Building Controls. It is a network of scalable, cloud-based technologies for easily connecting, monitoring, and managing individual pieces of HVAC equipment as well as integrated building systems. The new controls portfolio gives comprehensive transparency into the whole HVAC ecosystem, assisting in creating pleasant and sustainable work and living environments. It also easily connects many different brands of equipment, easing the integration issues that contractors and engineers confront daily.

Building Automation System Market Players
Major companies operating in the building automation system market report are Honeywell International Inc., Robert Bosch GmbH, Johnson Controls International plc, Mitsubishi Electric Corporation, ABB Ltd., Schneider Electric SE, Siemens AG, Hubbell Inc., United Technologies Corporation, Ingersoll-Rand plc, General Electric Company, Cisco Systems Inc., Trane Technologies, Lutron Electronics Co. Ltd., Hitachi Ltd., Huawei Technologies Co. Ltd., Emerson Electric Co., Legrand, Control4 Corporation, Automated Logic Corporation, Delta Controls Inc., Distech Controls Inc., Crestron Electronics Inc., Leviton Manufacturing Co. Inc., Lynxspring Inc., Reliable Controls Corporation, Tridium Inc., Carrier Corporation, Computrols Inc., Daikin Industries Ltd.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the building automation system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global building automation system market report during the forecast period. The regions covered in the building automation system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Building Automation System Market Report Structure
3. Building Automation System Market Trends And Strategies
4. Building Automation System Market - Macro Economic Scenario
5. Building Automation System Market Size And Growth
…..
27. Building Automation System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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