Press release
Accelerating Growth in Building Automation System Market: Insights on CAGR, Market Size, and Key Driving Factors
"Examining the Swift and Steady Global Rise of the Building Automation System Market
What Is The Projected Market Size Of The Global Building Automation System Market And Its Growth Rate?
The Building Automation System Market has seen a remarkable growth rate in recent years and the upward trend is set to continue:
• The market size was $99.76 billion in 2024, growing to $111.23 billion in 2025 with a CAGR of 11.5%. This growth was driven by factors such as government regulations and incentives, energy efficiency and cost savings, and demand for smart buildings.
• Looking into the future, the market size is projected to reach $181.77 billion in 2029 with a CAGR of 13.1%. The forecasted growth can be attributed to rapid urbanization and smart city initiatives, emphasis on sustainability and green buildings, integration with cloud and edge computing, and improving cybersecurity measures.
What Is Driving The Growth In The Building Automation System Market?
The rise in construction activities is a dominant growth-driver in the Building Automation System Market. As the rate of construction, both in terms of new builds and maintenance operations, increases, so does the demand for building automation systems. These systems improve efficiency and productivity for engineering personnel and construction managers. For instance, data from the Office for National Statistics showed a 1.2% increase in the UK's construction output in the three months leading to July 2024. With growth seen in new work (1.6%) and repair and maintenance (0.8%), this rising trend of construction activities is propelling growth in the building automation system market.
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Who Are the Key Players Driving Building Automation System Market Growth?
Influential companies in the Building Automation System Market include:
• 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
What Are The Key Trends In The Building Automation System Market?
Significant trends in the Building Automation System Market include the:
• Rapid adoption of IoT and edge computing
• Focus on energy efficiency and sustainability
• Increasing integration of artificial intelligence (AI) and machine learning (ML)
• Enhancements in cybersecurity measures
• Expansion in cloud-based solutions and remote accessibility
What Are The Segments Of The Global Building Automation System Market?
The Global Building Automation System Market is segmented by:
• Component: Hardware, Software
• Offerings: Facility Management Systems, Security And Access Controls, Fire Protection Systems, Building Energy Management Software, Building Automation System Services, Other Offerings
• Technology: Wireless Technology, Wired Technology
• Application: Industrial, Residential, Commercial
Which Region Leads The Building Automation System Market?
In 2024, North America was the largest region in the building automation system market. Meanwhile, Asia-Pacific is projected to be the fastest-growing region during the forecast period, which spans across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Building Automation System Market Global Market Report?
This comprehensive report on the Building Automation System Market covers:
- Market Size Analysis: Insights into the market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Breakdown of various subsegments within the market for effective categorization.
- Key Player Focus: Information on key players, their market value, share, and competitive landscape.
- Growth Trends Analysis: Exploration of individual growth trends and market prospects.
- Market Contribution: Evaluation of the contributions of different market segments to overall growth.
- Growth Drivers: Detailing of key market growth drivers and opportunities.
- Industry Challenges: Analysis of challenges and risks in the market.
- Competitive Developments: Examination of competitive developments such as expansions and new product launches.
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