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Global Building Automation System Market Report 2023: Increasing Construction Activities Boosts Growth

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DUBLIN, June 19, 2023 /PRNewswire/ -- The "Building Automation System Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers, and senior management with the critical information they need to assess the building automation system market.

The global building automation system market is expected to grow from $81.30 billion in 2022 to $90.28 billion in 2023 at a compound annual growth rate (CAGR) of 11.06%. The building automation system market is expected to reach $141.34 billion in 2027 at a CAGR of 11.86%.

Major players in the building automation system market are 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, General Electric Co., Cisco Systems Inc., Trane Technologies, Lutron Electronics Co Ltd, Hitachi Ltd, Huawei Technologies Corporation, and Emerson Electric Co.

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A building automation system is an intelligent system comprising hardware and software used to control and monitor various systems that connect heating, ventilation, air conditioning (HVAC), lighting, security, and other systems in a building to interact on a single platform.

The main building automation systems offered are facility management systems, security and access controls, fire protection systems, building energy management software, building automation system services, and others. Facility management software aids in automating simple to moderately complicated facility management duties, allowing consumers to serve themselves. It has mainly two components: hardware and software, and it is used in various applications such as industrial, residential, and commercial.

The building automation systems market research report is one of a series of new reports that provides building automation systems market statistics, including building automation systems industry global market size, regional shares, competitors with a building automation systems market share, detailed building automation systems market segments, market trends and opportunities, and any further data you may need to thrive in the building automation systems industry. This building automation systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Technological advancements have emerged as a key trend gaining popularity in the building automation system market. Major companies operating in the building automation systems market are developing innovative technologies to strengthen their position in the market.

For instance, in January 2022, Daikin Applied Americas Inc., a US-based company that designs, manufactures, and distributes heating, ventilation, and air conditioning systems, launched SiteLineTM Building Controls. It is a network of scalable, cloud-based technologies for easily connecting, monitoring, and managing individual pieces of HVAC equipment as well as integrated building systems.

The new controls portfolio gives comprehensive transparency into the whole HVAC ecosystem, assisting in creating pleasant and sustainable work and living environments. It also easily connects many different brands of equipment, easing the integration issues that contractors and engineers confront daily.

North America was the largest region in the building automation system market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the building automation system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Increasing construction activities is expected to boost the growth of the building automation system market. Construction activity refers to the process of building or assembling physical structures, such as buildings, roads, bridges, and other infrastructure projects. As construction activities increase, there is likely to be a corresponding increase in demand for building automation systems (BAS). Implementing automation solutions can minimize administrative burdens on engineering personnel and assist construction managers in becoming more productive in these critical areas.

For instance, as per the data published by the Office for National Statistics, a UK-based recognized national statistics institute, when compared to 2021, annual construction production increased by 5.6% in 2022. Therefore, increasing construction activities are driving the growth of the building automation system market.

The building automation system market consists of revenues earned by entities by providing services such as design and engineering, installation and commissioning, maintenance and support, monitoring and optimization and consulting and training. The market value includes the value of related goods sold by the service provider or included within the service offering.

The building automation system market also includes sales of sensors, output devices, controllers, communication protocols, and a terminal. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Key Topics Covered:

1. Executive Summary

2. Building Automation System Market Characteristics

3. Building Automation System Market Trends And Strategies

4. Building Automation System Market - Macro Economic Scenario

4.1. COVID-19 Impact On Building Automation System Market

4.2. Ukraine-Russia War Impact On Building Automation System Market

4.3. Impact Of High Inflation On Building Automation System Market

5. Building Automation System Market Size And Growth

5.1. Global Building Automation System Historic Market, 2017-2022, $ Billion

5.1.1. Drivers Of The Market

5.1.2. Restraints On The Market

5.2. Global Building Automation System Forecast Market, 2022-2027F, 2032F, $ Billion

5.2.1. Drivers Of The Market

5.2.2. Restraints On the Market

6. Building Automation System Market Segmentation

6.1. Global Building Automation System Market, Segmentation By Offerings, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Facility Management Systems
  • Security And Access Controls
  • Fire Protection Systems
  • Building Energy Management Software
  • Building Automation System Services
  • Other Offerings

6.2. Global Building Automation System Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Wireless Technology
  • Wired Technology

6.3. Global Building Automation System Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Hardware
  • Software

6.4. Global Building Automation System Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Industrial
  • Residential
  • Commercial

7. Building Automation System Market Regional And Country Analysis

7.1. Global Building Automation System Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

7.2. Global Building Automation System Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/o8wju7

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SOURCE Research and Markets

First published on Tue, Jun 20, 2023

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