Building Automation System Global Market to Reach $194.86 Billion by 2030 at a CAGR of 10%

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Dec 06, 2022, 11:45 ET

DUBLIN, Dec. 6, 2022 /PRNewswire/ -- The "Building Automation System Market By Component, By Application, By Offerings: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

The global building automation system market is envisioned to garner $194,864.1 million by 2030, growing from $75,757.0 million in 2021 at a CAGR of 10.0% from 2022 to 2030.

A build automation system, also known as a building management system, is the automatic centralized control of a building's Heating, Ventilation and Air Conditioning (HVAC) The main purpose of building automation systems is to reduce energy consumption, improve occupants' comfort and productivity, reducing maintenance costs and extending the life cycle of the utilities. BAS will adjust the building's temperature in accordance with the need of its occupants or if it determines through its sensors that better air quality is required.

Building automation system market growth is anticipated to be significantly fueled by rising demand for smart buildings over the forecasted period. A building automation system will deliver lower operating and maintenance costs, greater energy efficiency, better indoor air quality, productivity, and greater occupant comfort.

The initial expense of installing a building automation system and the lengthy cost recovery times are significant barriers to BAS solution adoption. The initial installation cost is high because of that they are not affordable for small-scale structures and stores. Additionally, compatibility between software, hardware, networking devices, databases, and other components is required during implementation, which is a resource-intensive and complex procedure.

Building automation systems are increasingly being adopted in the hospitality industry, particularly by businesses aiming to set themselves apart from rivals and concentrating on developing higher-end, world-class lodging.

The hospitality industry is facing critical challenges with rising energy expenditures, and several vendors are now offering wireless technology to address these issues. Although BAS adoption in the hospitality industry is still in its infancy, it is anticipated to gain ground as public awareness grows and legislation is introduced by the relevant governments.

KEY BENEFITS FOR STAKEHOLDERS

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the building automation system market analysis from 2021 to 2030 to identify the prevailing building automation system market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the building automation system market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global building automation system market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments
By Application

Industrial
Residential
Commercial

By Offerings

Facility Management Systems
Security and Access Controls
Fire Protection Systems
Building Energy Management Software
BAS Services
Others

By Component

Hardware
Software

By Region

North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
UAE
South Africa
Rest of LAMEA

Key Market Players

Honeywell International Inc.
Robert Bosch
Johnson Controls International plc
Mitsubishi Electric Corporation
ABB Ltd
Schneider Electric
Siemens AG
General Electric
Hubbell Inc
United Technologies Corporation

Key Findings of the Study

Based on component, the hardware sub-segment emerged as the global leader in 2021 and the software sub-segment is anticipated to be the fastest growing sub-segment during the forecast period
Based on application, the commercial sub-segment emerged as the global leader in 2021 and the industrial sub-segment is predicted to show the fastest growth in the upcoming years
Based on offerings, the security and access controls sub-segment emerged as the global leader in 2021 and the building energy management software sub-segment is anticipated to be the fastest growing sub-segment during the forecast period
Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain the position during the forecast period
The study also provides in-depth analysis of the building automation system market trends

Key Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW

CHAPTER 4: BUILDING AUTOMATION SYSTEM MARKET, BY COMPONENT

CHAPTER 5: BUILDING AUTOMATION SYSTEM MARKET, BY APPLICATION

CHAPTER 6: BUILDING AUTOMATION SYSTEM MARKET, BY OFFERINGS

CHAPTER 7: BUILDING AUTOMATION SYSTEM MARKET, BY REGION

CHAPTER 8: COMPANY LANDSCAPE

CHAPTER 9: COMPANY PROFILES