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Intelligent Building Automation Technologies Global Market Expected to Witness $133.26 Billion with Impressive Growth at a 9.0% CAGR By 2028
Intelligent Building Automation Technologies Global Market
Intelligent Building Automation Technologies 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 $133.26 billion In 2028 At A CAGR Of 9.0% :
The intelligent building automation technologies market size has grown strongly in recent years. It will grow from $88.05 billion in 2023 to $94.55 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to early adoption and awareness, regulatory compliance, cost reduction and efficiency gains, resilience and adaptability, energy efficiency goals.
The intelligent building automation technologies market size is expected to see strong growth in the next few years. It will grow to $133.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to maturing technology ecosystem, customization and flexibility, data security and privacy, human-centric design, decentralized energy systems, . Major trends in the forecast period include digital transformation, globalization and supply chain complexity, shift to smart manufacturing, customer-centric design.
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Intelligent Building Automation Technologies Market Major Segments
The intelligent building automation technologies market covered in this report is segmented -
1) By Type: Hardware, Software, Service
2) By Communication Technology: Wired Technology, Wireless Technology
3) By Application: Residential, Commercial, Industrial
Key Driver - Energy-Efficient Projects Fueling Growth In The Intelligent Building Automation Technologies Market
Increasing energy-efficient projects are expected to propel the growth of the intelligent building automation technologies market going forward. Energy-efficient projects refer to a structure that maximizes resource efficiency while maintaining comfortable living conditions within the home with the least amount of energy possible. Intelligent building automation solutions help energy-efficient projects by reducing energy consumption by 10% to 25%, making the buildings highly energy efficient. For instance, according to Energy Star, a voluntary U.S. Environmental Protection Agency (EPA) program, in 2021, more than 6,100 commercial buildings earned the Energy Star, saving nearly $1.5 billion and preventing more than 4.6 million metric tons of greenhouse gas emissions. Therefore, increasing energy-efficient projects are driving the intelligent building automation technologies market growth.
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Prominent Trend - Groundbreaking Generative Autonomy Platform For Intelligent Building Automation Technology
Product innovation is the key trend gaining popularity in the intelligent building automation technology market. Major companies operating in the intelligent building automation technology market are focused on developing advanced technologies to sustain their position in the market. For instance, in November 2023, PassiveLogic Inc. a US-based company that specializes in intelligent building automation technologies launched a generative autonomy platform. The generative autonomy platform transforms building control systems from basic, programmable controls to fully intelligent, autonomous ones. The platform can be utilized for new construction or retrofitting and is scalable from coffee shops to skyscrapers. Autonomous systems that are versatile enough to be used in a wide range of disciplines by both novices and specialists are made possible by generative autonomy. The platform offers a comprehensive autonomous building platform that surpasses expectations with a fraction of the work and is intended to enable users to design their own autonomous systems .
Intelligent Building Automation Technologies Market Players
Major companies operating in the intelligent building automation technologies market report are Asea Brown Boveri Ltd., Azbil Corporation, Eaton Corporation plc, General Electric Company, Ingersoll Rand Inc., Siemens Building Technologies Inc., Schneider Electric SE, Honeywell International Inc., Hubbell Incorporated, Rockwell Automation Inc., United Technologies Corporation, Samsung Electronics Co. Ltd., Delta Controls Inc., Panasonic Corporation, Robert Bosch GmbH, Cisco Systems Inc., Trane Technologies plc, Lutron Electronics Co. Inc., Johnson Controls International plc, Beijer Electronics AB, Emerson Electric Co., Mitsubishi Electric Corporation, Hitachi Ltd., Huawei Technologies Co. Ltd., Creston Electronics LLC, Legrand SA, Bajaj Electricals Limited, Building LogiX Inc., Distech Controls Inc., Dialight plc
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Largest And Fastest Growing Region In The Market
North America was the largest region in the intelligent building automation technologies market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intelligent building automation technologies 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. Intelligent Building Automation Technologies Market Report Structure
3. Intelligent Building Automation Technologies Market Trends And Strategies
4. Intelligent Building Automation Technologies Market - Macro Economic Scenario
5. Intelligent Building Automation Technologies Market Size And Growth
…..
27. Intelligent Building Automation Technologies Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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