Building Automation System Market:
Growth opportunities in the Building Automation System Market look promising over the next six years. This is mainly due to the rising focus on overcoming utility costs and increasing application of surveillance systems in several locations such as airports and schools.
Building Automation System Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The augmenting demand for power-saving facilities with enhanced surveillance systems is one of the most prominent drivers proliferating the growth of the global building automation system market. Also, buildings are increasingly witnessing an expansion in the acquisition of mechanized security systems. The system helps to automate the safety solutions of a building with video monitoring and biometric means. In addition, they also help to supervise and register the behavior and activities of people. The surging employment of the scrutiny systems across different locations, including schools, offices, and airports, further strengthens the building automation system market size.
Moreover, the surging need for energy administration and the increasing emphasis on controlling operational costs further promotes the endorsement of these systems. Energy consumption is forecasted to expand in the coming years. In accordance with the US Energy Information Administration (EIA), global power consumption is projected to fuel by 50% between 2018-2050, with the Asian region being the biggest consumer of energy. However, the false belief concerned with high installation costs is hampering the market growth. The building owners and end-users are unaware that the cost relies on the complication of the integration as per the specific application.
Regional Drivers
Based on the regional coverage, North America is projected to witness a higher CAGR during the forecast period. This is primarily because of the prevalence of an immense number of early adopters in the US and Canada. The government is increasingly promoting the usage of these solutions owing to their energy efficiency. The US Green Building Council initiated the “LEED” program in association with the Bank of America Charitable Foundation, thus encouraging the local government to choose sustainable solutions. Moreover, the existence of major systems players such as Siemens and the launch of novel concepts and several technological contributions will propel the market growth.
Building Automation System Market’s leading Manufacturers:
- Trane Technologies plc
- ABB
- Schneider Electric,
- Siemens AG
- Hubbell
- Legrand
- Johnson Controls
- Honeywell International Inc.
- Carrier
Building Automation System Market Segmentation:
Segmentation by Offering
- Facility Management Systems
- Security and Access Control
- Fire Protection Systems
- Building Energy Management Software
- Bas Services
- Others
Segmentation by Communication Technology
- Wireless Technologies
- Wired Technologies
Segmentation by Application
- Residential Applications
- Commercial Applications
- Industrial Applications
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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