According to a research report "Building Automation System Market by Offering (Facility Management Systems, Security & Access Controls, Fire Protection Systems, BEM Software, BAS Services), Communication Technology (Wireless, Wired), Application and Region - Global Forecast to 2027" published by MarketsandMarkets, the building automation system market is projected to reach USD 148.6 billion by 2027 from USD 86.8 billion in 2022; it is expected to grow at a CAGR of 11.4% from 2022 to 2027. Building automation systems are used to automate and control heating, ventilation, and air-conditioning systems; lighting systems; and other systems installed in buildings to increase the comfort, safety, security, and convenience of occupants and make buildings energy efficient. A BAS is a computer networking system that monitors and controls a range of other electronic and mechanical systems. It provides a means for these disparate systems to communicate across platforms, software, and languages. The core functionality of a BAS is to maintain building climate based on an occupancy schedule, monitor performance and device failures in all systems, and provide malfunction alarms. Automation systems reduce building energy and maintenance costs. Almost all multi-story green buildings are designed to accommodate a BAS for energy, air, and water conservation. Most green buildings also use as many low-power DC devices as possible, typically integrated with power over Ethernet wiring. Even a piassavas design intended to consume no net energy whatsoever will typically require a BAS to manage heat capture, shading and venting, and scheduling device use. Asia Pacific is expected to grow at highest CAGR during the forecast period. Stringent regulations with respect to energy efficiency and various initiatives undertaken in countries such as China and India for the same and high economic growth and surge in construction and industrial activities in various countries in the region are some of the driving factors for the growth of building automation system market in Asia Pacific region.
In application type, the
industrial application segment is expected to grow at highest CAGR of the
building automation system market during the forecast period
The industrial application
segment is projected to grow at the highest CAGR during the forecast period.
Automation of facility management systems, such as HVAC and lighting control
systems, in the industrial sector is fueling the demand for building automation
systems used in industrial applications. Automation can efficiently help in
reducing energy expenditure, which is an important factor in cost reduction in
manufacturing and production facilities. Decrease in capital expenditure,
operational costs, and energy expenditure can increase profitability. This can
be achieved by automating different processes with the help of facility
management systems as well as other building automation systems. Various
countries with proactive manufacturing bases, such as China, Japan, the US,
Germany, and India, are utilizing building automation systems in order to carry
out energy-efficient and safe production and manufacturing processes. These
factors are expected to drive the demand for building automation systems in
industrial and manufacturing facilities.
The building automation system
market in APAC is projected to have the highest growth during the forecast
period
Asia Pacific is expected to
account for the largest share of the building automation system market during
the forecast period. The rapid growth of the construction industry in emerging
economies such as China and India and the government initiatives for energy
conservation have contributed to the growth of the building automation system
market in the region. The consumers in this region are actively deploying
building automation systems in residential and commercial areas owing to improvements
in economic conditions. Moreover, increasing construction activities in China
play a key role in driving the growth of the building automation system market
in Asia Pacific. The growth of the building automation system market in APAC
can be attributed to the economic growth in the region, along with a surge in
construction and industrial activities witnessed by the key countries in Asia
Pacific. The prime objective of consumers in the region is to achieve energy
savings with the implementation of building automation systems that directly
translate into monetary savings. Countries such as China and India have
increasingly started developing smart cities. Building automation systems act
as key enablers in achieving energy-saving objectives in these countries. China
hold the highest market of the region. China has implemented various energy
efficiency policies and programs, including green building ratings, building
energy codes, minimum energy performance standards, voluntary rating programs,
and energy-efficiency retrofits in existing buildings to reduce the energy
consumption in residential and commercial buildings. The country has been
undertaking a huge amount of construction projects to become the base of its
modern urban landscape. Different construction projects undertaken in Q3 of
2021 include third west-east gas pipeline middle section natural gas pipeline,
Liuzhou-Wuzhou Railway Line, Zhangzhou Development Zone Shuangyu Island
Secondary Development, and Zengcheng-Foshan Expressway. The country is focusing
on new building construction instead of adding technologies to the existing
ones; hence, it is applying smart technology to architecture, using new forms
of materials to improve sustainability.
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Key Players of Building
Automation System Market:
Honeywell International (US),
Siemens AG (Germany), Johnson Control (US), Schneider Electric (France),
Carrier (US), Robert Bosch (Germany), Legrand (France), Hubbell (US), ABB
(Zurich), Trane Technologies (Ireland), Lutron Electronics (US), Creston
Electronics (US), Hitachi (Japan), Delta Controls (Canada), Beckhoff Automation
(Germany), Lennox International (US), General Electric (US), Distech Controls
(Canada), Dialight PLC (UK), Cisco Systems (US), Rockwell Automation (US),
Control4 (US), Signify (Philips Lighting) (Netherlands), Emerson Electric (US),
and Leviton Manufacturing Company (US)
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