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Building Automation And Control System Market Poised for 9.9 % Growth, Set to Hit $155.01 Billion by 2029
Building Automation And Control System Market Size
The surge in the construction of smart buildings is projected to boost the expansion of the building automation and control system market in the future. Smart buildings leverage sophisticated technologies and interconnected systems to optimize energy efficacy, bolster occupant comfort, augment operational efficiency, and boost the overall performance of buildings. The trend of smart buildings is escalating due to cost-effective opportunities, regulatory standards, and the rising demand for integrated and smart spaces. The building automation and control systems provide essential connectivity and integration capabilities to ensure compatibility and synchronization amongst various components, allowing the centralized supervision and control of building operations. For instance, in May 2022, reports by Buildup., a Europe-based climate, infrastructure, and environment executive agency, stated that by 2026, the number of smart buildings worldwide will reach 115 million, a substantial increase from 45 million in 2022. Thus, the surge in smart buildings is contributing to the growth of the building automation and control system market.
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What Is the projected market size and growth rate for the building automation and control system market?
In the recent past, there's been an accelerated expansion in the building automation and control system market, which is set to increase from $96.36 billion in 2024 to $106.2 billion in 2025 with a 10.2% compound annual growth rate. The surge witnessed in the historic period can be traced back to the implementation of energy efficiency regulations, requirements for cost minimization, transition towards intelligent buildings, heightened emphasis on the comfort and well-being of the occupants and the necessity for real-time oversight and control.
In the upcoming years, the building automation and control system market is poised for robust expansion. With an anticipated compound annual growth rate (CAGR) of 9.9%, the sector is projected to be valued at $155.01 billion by 2029. The surge during this period can be ascribed to the growing emphasis on enhancing energy efficiency and sustainability, the evolution of smart cities and infrastructure, the augmentation in connectivity and interoperability, and the increasing trend towards remote working and monitoring. Prominent trends expected to shape the market during the forecast period encompass the incorporation of artificial intelligence (AI) and machine, the extensive application of internet of things (IoT) connectivity, the gradual growth of edge computing, the increasing reliance on cloud-based solutions, as well as the proliferation of smart building platforms.
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What are the emerging trends shaping the future of the building automation and control system market?
Prominent firms in the building automation and control system sector are pioneering the development of innovative items such as IoT-based smart actuators, aimed at improving the automation and renovation of buildings. Smart actuators blend conventional actuation features with the benefits of smart technology, often integrating sensors, connectivity, and control systems. For example, Sauter AG, a building automation corporation based in Switzerland, introduced a new range of IoT-capable actuators in July 2022, thereby expanding its product portfolio. This groundbreaking tech paves the way for fully or semi-automated air conditioning, heating, and ventilation. Additional advantages include simplified setup and commissioning, cloud connectivity supplemented with an application library and remote access, as well as a smartphone application.
What major market segments define the scope and growth of the building automation and control system market?
The building automation and control system market covered in this report is segmented -
1) By Offerings: Solution, Services
2) By Technology: Wired, Wireless
3) By End User: Residential, Commercial, Industrial
Subsegments:
1) By Solution: Hardware, Software
2) By Services: Installation And Integration, Support And Maintenance, Managed Services
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Which region dominates the building automation and control system market?
Asia-Pacific was the largest region in the building automation and control system market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the building automation and control system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Which key market leaders are driving the building automation and control system industry growth?
Major companies operating in the building automation and control system market are Robert Bosch GmbH, Hitachi Ltd., Siemens AG, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., ABB Ltd., Johnson Controls International plc, Trane Technologies plc, Emerson Electric Co., Legrand SA, Rockwell Automation Inc., Signify Holding B.V., Hubbell Incorporated, Lennox International Inc., Acuity Brands Inc., Carrier Global Corporation, Crestron Electronics Inc., Leviton Manufacturing Co. Inc., Beckhoff Automation GmbH & Co. KG, Snap One LLC, Lutron Electronics Co. Inc., Current Lighting Solutions LLC., Dialight plc, Uplight Inc.
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What Is Covered In The Building Automation And Control System Global Market Report?
• Market Size Forecast: Examine the building automation and control system market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the building automation and control system market for a structured understanding.
• Key Players Overview: Analyze major players in the building automation and control system market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the building automation and control system market.
• Segment Contributions: Evaluate how different segments drive overall growth in the building automation and control system market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the building automation and control system market.
• Industry Challenges: Identify potential risks and obstacles affecting the building automation and control system market.
• Competitive Landscape: Review strategic developments in the building automation and control system market, including expansions, agreements, and new product launches.
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