The global building automation system market revenue was around US$ 83.3 billion in 2022 and is estimated to reach US$ 196.4 billion by 2031, growing at a compound annual growth rate (CAGR) of 10% during the forecast period from 2023 to 2031.
Building Automation Systems (BAS) are systems that handle multiple electronic, electrical, and mechanical systems throughout a building. It is a distributed control system that combines various building system kinds into a central and single location. Building automation systems are generally utilized to operate the HVAC (Heating, Ventilation, and Air Conditioning) systems in a building.
Market Driving Factors
Smart building adoption and Internet of Things (IoT) integration is predicted to drive the market. This is because organizations and property owners recognize the advantages of smart building solutions in optimizing operational efficiency, lowering energy consumption, and improving overall building performance. Furthermore, smart buildings leverage BAS to automate and integrate different systems, such as HVAC, lighting, security, and more, offering a holistic and interconnected approach to building management. This demand is further intensified by the increasing emphasis on creating intelligent and sustainable structures that cater to the evolving requirements of citizens and align with modern environmental standards.
Integration of building automation systems (BAS) into the wider framework of smart cities is estimated to create opportunities in the market. As urban centers strive to become more interconnected and intelligent, BAS plays a main role in optimizing the operational efficiency of various infrastructure components. Furthermore, smart city initiatives leverage BAS to build interconnected systems that improve sustainability, decrease energy consumption, and enhance overall urban living conditions from intelligent street lighting to efficient waste management.
Technical challenges and a lack of skilled professionals are estimated to hamper the market.
Regional Analysis
North America dominated the market in terms of the largest shares and is expected to maintain its dominance. This can be attributed to the surge in construction activities across the region and the increase in the economy of several countries in the region. In addition, customers in the region are mostly interested in acquired energy efficiency via the introduction of building automation systems, which is directly proportional to financial savings. As a result, smart cities are immediately being built in nations such as Canada and the United States, which is predicted to create more investment possibilities for investors.
Asia Pacific is expected to dominate the market in terms of the highest rate. This is mainly owing to rapid urbanization and surging concerns about the demand for integrated security systems. The increasing urban population is propelling the demand for smart buildings across various emerging nations, which is projected to create lucrative opportunities for the market. For instance, India is set to register high growth for building automation systems due to the surging safety concerns among facility managers and building owners.
Segmentation Insights
Application Insight
The residential segment is estimated to dominate the market in terms of shares. This is primarily owing to that it assists in lowering the chance of thieves in houses, raising its demand globally. In addition, the increasing use of smartphones in controlling building automation systems and surging consumer demand for managing and connectivity security is also a benefit to the market.
The commercial segment is predicted to dominate the market in terms of revenue. This is generally owing to utilizing a building automation system to maintain a building's lighting, heating and cooling, appliances, and other energy needs to enhance labor productivity and energy efficiency. Furthermore, commercial buildings such as libraries, restaurants, office buildings, museums, hospitals, shopping malls, warehouses, colleges, and schools are utilizing these solutions to lower the prices related to building management. As a result, private and government businesses are putting more focus on integrating building automation technologies to save prices and raise productivity.
Prominent Companies
Segmentation Outline
The global building automation system market segmentation focuses on the Application, Offerings, Component, and Region.
By Application
By Offerings
By Component
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL BUILDING AUTOMATION SYSTEM MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: BUILDING AUTOMATION SYSTEM MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL BUILDING AUTOMATION SYSTEM MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL BUILDING AUTOMATION SYSTEM MARKET, BY APPLICATION
5.1 OVERVIEW
5.2 INDUSTRIAL
5.3 RESIDENTIAL
5.4 COMMERCIAL
6 GLOBAL BUILDING AUTOMATION SYSTEM MARKET, BY OFFERINGS
6.1 OVERVIEW
6.2 FACILITY MANAGEMENT SYSTEMS
6.3 SECURITY AND ACCESS CONTROLS
6.4 FIRE PROTECTION SYSTEMS
6.5 BUILDING ENERGY MANAGEMENT SOFTWARE
6.6 BAS SERVICES
6.7 OTHERS
7 GLOBAL BUILDING AUTOMATION SYSTEM MARKET, BY COMPONENT
7.1 OVERVIEW
7.2 HARDWARE
7.3 SOFTWARE
8 GLOBAL BUILDING AUTOMATION SYSTEM MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3.1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL BUILDING AUTOMATION SYSTEM MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 HUBBELL INC
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 UNITED TECHNOLOGIES CORPORATION
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 GENERAL ELECTRIC
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 ROBERT BOSCH
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 SIEMENS AG
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 ABB LTD
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 HONEYWELL INTERNATIONAL INC.
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 MITSUBISHI ELECTRIC CORPORATION
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 JOHNSON CONTROLS INTERNATIONAL PLC
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 SCHNEIDER ELECTRIC
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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