Press release
Intelligent Building Automation Technologies Market Anticipated To Witness Robust Growth, Surpassing $150.14 Billion By 2029
Intelligent Building Automation Technologies
What Is the Current Intelligent Building Automation Technologies Market Size and Its Estimated Growth Rate?
The market for intelligent building automation technologies has seen significant expansion in the past few years. It is projected to increase from $92.38 billion in 2024 to $98.11 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.2%. The growth observed in the historic period is due to early adoption and general awareness, compliance with regulations, reduction in costs and efficiency improvement, along with resilience and adaptability, and the drive towards energy efficiency goals.
The market size of intelligent building automation technologies is predicted to experience a swift expansion in the upcoming years, reaching a value of $150.14 billion in 2029 with a compound annual growth rate (CAGR) of 11.2%. This growth during the projected period is as a result of factors like a maturing technology ecosystem, customization and flexibility, data security and privacy, human-centric design, and decentralized energy systems. The significant trends that would influence this progression in the forecast period encompass digital transformation, globalization, complex supply chain, transition towards smart manufacturing, and customer-centric design.
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How Are Emerging Segments Shaping the Intelligent Building Automation Technologies Market Landscape?
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
Subsegments:
1) By Hardware: Sensors And Actuators, Controllers, Networking Equipment, Security Systems
2) By Software: Building Management Systems (BMS), Energy Management Software, Integrated Workplace Management Systems (IWMS), Analytics And Monitoring Software
3) By Service: Installation And Integration Services, Maintenance And Support Services, Consulting Services
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Which Growth Factors Are Influencing Intelligent Building Automation Technologies Market Expansion?
The surge in energy-efficient initiatives is predicted to drive the expansion of the intelligent building automation technologies market in the future. These initiatives relate to buildings designed to optimize resource use while ensuring a comfortable living environment with minimum possible energy consumption. By decreasing energy usage by 10% to 25%, intelligent building automation systems contribute to making these structures highly energy-efficient. For example, The International Energy Agency reported in May 2024 that the projected pace of improvement in energy intensity, a crucial indicator of the world's energy efficiency, is forecasted to fall to 1.3% in 2023, significantly lower than the robust 2% observed the prior year. This drop in energy intensity improvement is primarily due to a 1.7% increase in energy demand in 2023, higher than the 1.3% seen in the previous year. Consequently, the rise in energy-efficient initiatives is fuelling the growth of the intelligent building automation technologies market.
Who Are the Dominant Players Across Different Intelligent Building Automation Technologies Market Segments?
Major companies operating in the intelligent building automation technologies market include 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
What Are the Latest Developing Trends in the Intelligent Building Automation Technologies Market?
The primary trend gaining traction in the intelligent building automation technology market is product innovation. The key players in this market are concentrating their efforts on the development of advanced technologies to maintain their market position. As an example, in November 2023, PassiveLogic Inc., an American company well-known for its expertise in intelligent building automation technologies, unveiled their generative autonomy platform. This technology revolutionizes building control systems, upgrading them from simple, programmable controls to fully intelligent, autonomous systems. Suitable for both new buildings and retrofits, the platform can be scaled to everything from cafes to high-rises. Through generative autonomy, versatile autonomous systems can be created; these systems can cater to a variety of fields and are user-friendly enough to be utilized by beginners and experts alike. The generative autonomy platform provides an all-encompassing autonomous building platform that exceeds the standard with less effort and is designed to empower users to conceptualize and implement their own autonomous systems.
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Which Geographic Regions Are Expected to Dominate the Intelligent Building Automation Technologies Market in the Coming Years?
North America was the largest region in the intelligent building automation technologies market in 2024.>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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Intelligent Building Automation Technologies Market?
2. What is the CAGR expected in the Intelligent Building Automation Technologies Market?
3. What Are the Key Innovations Transforming the Intelligent Building Automation Technologies Industry?
4. Which Region Is Leading the Intelligent Building Automation Technologies Market?
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