Building Automation System Market size worth USD 154.25 Billion, Globally, by 2026 at 10.56 % CAGR: Verified Market Research®
The "Global Building Automation System Market Size By Technology, By System, By Application, By Geographic Scope And Forecast" report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Building Automation System Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY, N.J., Sept. 7, 2023 /PRNewswire/ -- The Global Building Automation System Market is projected to grow at a CAGR of 10.56% from 2019 to 2026, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 68.82 Billion in 2018 and is expected to reach USD 154.25 Billion by the end of the forecast period.
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Browse in-depth TOC on "Building Automation System Market"
202 - Pages
126 – Tables
37 – Figures
Global Building Automation System Market Gains Momentum with Prominent Key Players and Flourishing Market Drivers
The global Building Automation System (BAS) market is witnessing significant growth, driven by a convergence of factors that promise a thriving future. A recently published market research report sheds light on key players, market drivers, and an optimistic outlook for the building automation industry.
Building Automation System Market Key Players:
Leading the charge in the Building Automation System market are industry giants, including ABB Ltd., Robert Bosch, Siemens AG, United Technologies Corp., Honeywell International, Johnson Controls International, Schneider Electric, Hubbell Inc., Ingersoll-Rand PLC, and Mitsubishi Electric Corporation. These key players have consistently demonstrated their commitment to innovation and market leadership.
Building Automation System Market Drivers:
- Internet of Things (IoT): The growing popularity of IoT technology has created opportunities for smart building solutions, propelling the demand for BAS.
- Government and Private Initiatives: Governments and private establishments are investing heavily in building automation systems to improve efficiency, safety, and sustainability.
- Security Concerns: Escalating security concerns have spurred the adoption of automated security systems within buildings, further fuelling market growth.
- Wireless Sensor Networks: Advancements in wireless sensor networks and protocols have expanded the capabilities and applications of BAS.
- IoT Expansion: The rapid growth of the Internet of Things ecosystem has been a catalyst for the building automation system market.
- Energy Efficiency Initiatives: Government-led efforts to reduce carbon emissions and enhance energy efficiency are creating lucrative opportunities for BAS.
Building Automation System Market Outlook:
The global Building Automation System market is poised for continued expansion, with robust growth expected, particularly in the Asia Pacific region. Developing countries such as India and China are experiencing rapid growth in the construction industry, while government initiatives focused on energy conservation are further propelling the market in this region.
Building Automation System Market Key Research Insights:
In-depth market research includes financial statements, product benchmarking and SWOT analysis, key development strategies, market share, and market ranking analysis. These insights provide a comprehensive understanding of the competitive landscape and growth prospects within the BAS market.
The global Building Automation System market is witnessing a promising future, underpinned by a dynamic ecosystem of key players and a host of market drivers. With continued innovation and investment, the industry is poised for sustained growth.
To get market data, market insights, financial statements and a comprehensive analysis of the Global Building Automation System Market, please Contact Verified Market Research®.
Based on the research, Verified Market Research® has segmented the global Building Automation System Market into Technology, Systems, Applications, And Geography.
- Building Automation System Market, by Technology
- Wired
- Wireless
- Building Automation System Market, by System
- Building Management Software
- Environment Control and Lighting Management
- Energy Management Systems
- Facility Management Systems
- Security & Access Control Systems
- Other
- Building Automation System Market, by Applications
- Commercial
- Residential
- Other
- Building Automation System Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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