Building Automation System Market - Global Size, Share & Industry Analysis - 2027

 The building automation system market Size is expected to reach a value worth USD 148.6 billion by 2027, a rise from USD 86.8 billion in 2022, with a CAGR of 11.4% from 2022 to 2027.

In offering segment, the security & access controls segment is expected to hold the largest market share during the forecast period

The security and access control segment is projected to contribute the largest market share during the forecast period. These systems enhance the security and safety of buildings. The requirement for increased security level, activity monitoring, and access control has led to a rise in demand for security and access controls.

The commercial applications of these systems, such as in offices, retail stores, educational buildings, and healthcare facilities, are the key contributors to the growth of the security and access controls segment of the building automation system market. The building energy management software segment is projected to grow at the highest CAGR during the forecast period.

The growth of the building automation software segment can be attributed to the ability of building automation systems to reduce energy consumption, which leads to energy and cost savings. The growth of the security and access controls segment of the building automation system market can be attributed to the significant implementation of various products such as access control and video surveillance systems in residential and commercial buildings, government offices, and financial institutions. In a number of European countries, including Germany, the UK, and France, governments are implementing security products such as access control systems and video surveillance cameras.

In communication technology segment, the wireless segment is expected to grow at higher CAGR during the forecast period

The wired technology segment accounted for a larger share of the building automation system market in 2021 than the wireless technology segment. The wireless technology segment of the market is projected to grow at a higher CAGR than the wired technology segment.

The growth of this segment can be attributed to advantages offered by wireless technology in the form of increased mobility and reduced costs of building automation systems. Moreover, it also minimizes the installation complexity for building automation systems, especially in existing buildings. This wireless medium uses different security algorithms and, hence, provide reliable network for consumers or users. They provide an extremely scalable and link-reliable medium and offer real-time capability and energy independence when deployed with energy-harvesting devices, especially when it comes to building management systems. Furthermore, wireless technology network can be used on a large scale for healthcare, surveillance, agriculture, and industrial applications. ZigBee, EnOcean, Z-Wave, and Wi-Fi are a few prominent wireless technologies used in building automation systems.

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The building automation system market in APAC is expected to grow at highest CAGR during the forecast period (2022-2027)

Asia Pacific is expected to lead the building automation system market from 2022 to 2027, in terms of growth rate. The increasing adoption of the Internet of Things (IoT) and leading technologies in lighting solutions in commercial buildings and the industrial sector has fueled the demand for building automation systems in the region.

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Autonomous Underwater Vehicle (AUV) Market Size, Share, Industry Report, and Growth Drivers 2028

The autonomous underwater vehicle (AUV) market was valued at USD 1.6 billion in 2022 and is projected to reach USD 4.9 billion by 2028, growing at a CAGR of 22.4% from 2023 to 2028. Factors such as the high operational costs of AUVs are restraints for the market's growth.

Driver: Rising defense spending in several countries worldwide

Security issues, concerns over contested territories, and threats have significantly increased defense spending worldwide. For instance, according to new data on global military expenditure published on April 2023 by the Stockholm International Peace Research Institute (SIPRI), the total global military expenditure increased by 3.7% in real terms in 2022 to reach USD 2240 billion. The three largest spenders in 2022—the US, China, and Russia—accounted for 56% of the world's total.

According to the US intelligence community's Annual Threat Assessment (ATA) 2023, Beijing will continue to apply pressure and offer inducements for Taiwan to move toward unification. It will react to what it views as increased US–Taiwan engagement. Beijing may build on its actions from 2022, which could include more Taiwan Strait centerline crossings or missile overflights of Taiwan. In the South China Sea, Beijing will continue to use growing numbers of air, naval, coast guard, and militia forces to intimidate rival claimants and to attempt to signal that China has effective control over contested areas. Similarly, China is pressuring Japan over contested areas in the East China Sea.

Countries across the world are using forefront technologies to safeguard their borders against underwater threats. In the present global scenario, there has been an increase in threats from pirates, terrorists, and seafarers. This is creating security issues across marine borders. For instance, in July 2021, there was an attack by pirates on an oil tanker (that was linked to an Israel-based billionaire) off Oman in the Arabian Sea. Also, according to a UN report in 2019, seabeds are becoming a tangle of ungoverned seabed cables, posing a new threat to international peace and security.

Restraint: High operational costs of AUVs

Autonomous Underwater Vehicles (AUVs) have high operational costs. Several factors that contribute to the overall cost of operating AUVs are development and acquisition, maintenance and repairs, training, and personnel, mission-specific costs, logistics and support, and data processing and analysis. These are expensive maritime systems. For instance, the A18 AUV (Exail Technologies SA), with a depth rating of up to 3,000 m, has a cost ranging from USD 2–6 million. The deployment costs of AUVs used in exploration or surveying activities add to the actual cost of exploration and surveying missions. Moreover, the prohibitive costs of maintenance, manufacturing, research & development, and system complexity associated with AUVs also result in slow adoption. However, they are increasingly used in simple missions such as environmental monitoring.

Opportunity: Upcoming expansion of Internet through 5G driving demand for underwater cables

Since the first underwater optical fiber cable came out in 1985, underwater cable systems have played a key role in the field of cross-continental communications. These systems offer several advantages, such as large capacity, high reliability, and excellent communication quality. However, underwater telecommunication cables are prone to suffer from potentially hazardous or environmental damages caused by natural causes, such as earthquakes and turbulent currents, or human activities (anchoring and fishing gear). AUVs are used extensively to resolve these issues. Also, AUVs are used in the maintenance and damage recovery for underwater connectors (also known as marine connectors or subsea connectors). These connectors are designed to withstand extreme environments, including corrosive seawater and pressure and vibration and shock, but they can sometimes fail in harsh ocean environments.

It is essential to track the cable route to inspect the condition of the buried cable and protect its surviving seabed environment. Several technologies, such as underwater cameras, side-scan sonar, sub-bottom profilers, and magnetic sensors, are used for these applications. However, to find these types of cables, the magnetic sensors embedded inside AUVs are used widely for tracking the cable route.

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Challenges: Operational hindrances such as natural ocean hazards and bad ocean weather

Deep-water AUVs can dive close to the seabed (<5 m altitude in areas of low relief). This means that they can collect seafloor mapping, profiling, and imaging data with far higher spatial resolution and navigational accuracy than surface vessels and towed instruments. As a result, AUVs are widely used in these challenging environments. AUVs are currently used in different applications, such as oceanography and archeology. However, AUV survival is a concern in these environments. Consequently, the data being gathered by AUVs could be lost because of the risk of vehicle loss due to natural hazards. This factor not only has financial implications (resulting from equipment loss) but also can result in increased research timelines due to the loss of important data.

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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

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8K Technology Market Size, Growth, Trend and Forecast to 2024

The 8K technology market is projected to grow from USD 2.9 billion in 2019 to USD USD 26.8 billion by 2024—growing at a CAGR of 55.5%. Demand for 8K technology is rising due to the increased demand for larger-sized TVs with higher resolution; availability of various products for the creation and delivery of 8K content; and advancements in display technology, financial assistance by governments, and expansion of production capabilities for 8K UHD display panels.

“Television segment to witness highest demand during forecast period”

The market for 8K televisions is expected to witness the largest shipment during the forecast period. Large-screen and high-resolution TVs offer better quality and realistic images, as well as an enhanced viewing experience, which drives  the 8K technology market growth. APAC is expected to account for the largest share of the 8K television market during the forecast period owing to the presence of many 8K TV manufacturers. Japan will be hosting the 2020 Summer Olympics. Therefore, TV manufacturers are increasingly focusing on streaming TV experience to meet the rising demand of viewers for a seamless streaming experience of the Olympic Games. Additionally, the advent of 5G in the country is likely to propel the growth of the 8K TV market in the region.

“Sports & entertainment industry held largest market share in 2018”

The increasing use of high-resolution devices by consumers and by sports & entertainment and medical industries drives the market growth. The sports & entertainment industry greatly influences the 8K technology market. Cinema, gaming, and advertisement industries are adapting 8K technology because it provides high-quality images with a clearer picture. 8K broadcast in sports and entertainment applications is expected to further propel the market growth in the coming years.

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“APAC to exhibit fastest CAGR during forecast period”

APAC is expected to register the highest CAGR in the market during the forecast period. The highest growth of APAC in the 8K technology market can be attributed to the increasing demand for 8K TVs in this region.

The region also has the presence of key consumer electronics companies such as LG Electronics (South Korea), Samsung Group (South Korea), Canon (Japan), JVCKENWOOD (Japan), Sony (Japan), Panasonic Corporation (Japan), and Sharp Corporation (Japan). China and Japan will be among the highest growth registering countries in the 8K technology market in APAC. China is emerging as a leading consumer product manufacturing hub with local players expanding their market share in all segments. Therefore, China is expected to exhibit high growth in the market. With the advent of 5G in Japan, the market in this country will grow significantly in the near future. Similarly, Japan will host the 2020 Summer Olympics, which is another major reason that is likely to surge the demand for 8K technology in the country in the coming years.

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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Industry 4.0 Market Size, Share, Industry Trends & Growth Drivers 2030

 The global industry 4.0 market size is projected to USD 165.5 billion by 2026 from USD 73.9 billion in 2022 at a compound annual growth rate (CAGR) of 20.6% during the forecast period. It was observed that the growth rate was 39.12% from 2021 to 2022. AI in Manufacturing is expected to grow at a highest CAGR of 49.07%.

The primary driving factor of the industry 4.0 market are increasing adoption of automated equipment and tools on manufacturing, warehouse, and factory floors, rising investment towards additive manufacturing, and emergence of digital technologies such as IoT, AI, ML, cloud services, 5G and many more, which in turn, is expected to create sizable demand for the industry 4.0 industry.

Industry 4.0 Industry Ecosystem

Different types of technologies together make up the industry 4.0 ecosystem; these include AI in Manufacturing, Industrial Sensors, Industrial Robots, Machine Vision, Human Machine Interface, Digital Twin, Machine Condition Monitoring, Industrial 3D Printing, and Automated Guided Vehicles. There has been an increased in demand for computers, monitors, and network peripherals, and other wireless connectivity solutions in last couple of years and it is proving to be a pivoting point for digital adoption in the industrial as well commercial sectors. Consumer are realizing the benefits of Industry 4.0 and thus its is witnessing an exponential industry 4.0 market growth.

North America is projected to grow at highest rate in the industry 4.0 market Share

 North America is the fastest growing regions in this market due to the continuous technological advancements, financial support from governments in the region, and efforts to ensure real-time quality control and real-time visibility across the manufacturing sector.  The US has a large industrial base featuring companies with high production capacity; it is thus expected to be the major contributor to the industry 4.0 market in North America.

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Top Industry 4.0 Companies - Key Market Players

The industry 4.0 players have implemented various types of organic as well as inorganic growth strategies, such as new product launches,  and acquisitions to strengthen their offerings in the market. The major players in the industry 4.0 market are  General Electric(US), Siemens (Germany), Honeywell International (US), ABB (Switzerland), Emerson Electric (US), 3D Systems (US), Advantech (Taiwan), Basler (Germany), Cisco Systems (US), Cognex Corporation (US), Daifuku (Japan), IBM (US), Intel (US), John Bean Technologies Corporation (US), Nvidia (US), Stratasys (Israel), Techman Robot (Taiwan), Universal Robots (Denmark), Addverb Technologies (India), AIBrain (US), Algolux (Canada), Beckhoff Automation (Germany),  BigchainDB GmbH (Germany), LogiLube (US), Pratiti Technologies (India), Sculpteo (France), Sigfox(France)

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Door and Window Automation Market by Size Share Growth (2022-2027)

 The global door and window automation market size is expected to grow from USD 18.3 billion in 2022 to USD 23.6 billion by 2027, at a CAGR of 5.2%.

The rising adoption of automatic doors and windows by elderly and disabled people as well as by hospital sector is driving the growth of the door and window automation industry. Moreover, integration of advanced technologies in automated solutions and growing focus of end-users on reducing heating and cooling costs is also expected to drive the growth of the market in the near future.

Operators were the most extensively used in automated doors and windows in 2021

Increased use of operators in commercial, retail, and industrial buildings to manage heavy pedestrian traffic effectively and efficiently is the major reason for the largest share of this segment. These operators are primarily used in swing and sliding doors. They can control the opening and closing of the door on their own; therefore, they are highly used in pedestrian doors. Operators also perform powerful and silent operations. The rising demand for safety and security due to high pedestrian traffic at hospitals and educational institutions, as well as the growing demand for effortless and easy access to buildings and facilities, is another reason for the significant growth of the market for operators.

Windows to hold significant growth rate during the forecast period

Automated windows with touch buttons are highly convenient and effective for use. Window automation is used for the purpose of convenience, natural ventilation, and smoke ventilation. Automated windows comprise different IO devices and smoke detectors, manual call points (break glass, rocker switches, or key switches), and fire alarm systems to make it a complete solution for residential and commercial buildings and are connected via a central hub. They provide ease of use and convenience, as well as maintain the desired temperature, which, in turn, helps reduce utility bills in commercial buildings, airports, auditoriums, and others. This in turn is expected to rise the adoption of automated windows during the forecast period.

Commercial building segment dominated the door and window automation market in 2021

The growth of the segment is attributed to the rising adoption of automatic doors and windows in offices, shopping malls, banks & financial institutions, and other commercial buildings. The installation of automatic doors and windows in commercial buildings provides the user an ease of access without compromising security. In commercial buildings, for example, retail shops and shopping malls, visitors always expect modern, clean, and functional buildings. Therefore, usually, building entrances set the scene by installing automated pedestrian doors, which are easy to use and simple to access for everyone, including children, disabled and elderly persons that require a high level of security.

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Asia Pacific is expected to be the leading region in the door and window automation market during the forecast period

Asia Pacific accounted for a share of more than 25% of the door and window automation market and is expected to witness the highest CAGR during the forecast period. The increased construction activities in various countries of Asia Pacific fuel the growth of the door and window automation market in the region. Further, the region is focused on constructing new residential buildings and strengthening public infrastructure. Additionally, strong economic growth, rising population, and rapid urbanization and industrialization are likely to create the need for a sophisticated infrastructure.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Display Market Demand, Key Players, Opportunities, Scenario, & Forecast Analysis By 2028

 The display market is projected to reach USD 187.8 billion by 2028 from USD 157.8 billion in 2023 at a CAGR of 3.5% during the forecast period. Surging adoption of OLED displays in various applications, increasing demand for displays in automotive and healthcare industries, and increasing use of LED displays for video walls, TVs, and digital signage applications are some of the major factors driving the market growth.

Micro-LED to register highest CAGR during the forecast period

Micro-LED displays offer several advantages over traditional LCD displays, including improved energy efficiency, better contrast, and faster response times. Micro-LEDs are a promising technology, with a diverse range of potential applications. Notably, the two most significant areas of implementation lie at the opposite ends of the size spectrum. At one end, wearable devices such as smartwatches and near-to-eye (NTE) devices, which feature minute displays, can greatly benefit from micro-LED technology. Conversely, extremely large indoor public displays represent the other end of the size spectrum that can leverage the unique properties of micro-LEDs.

Consumer electronics to account for the largest share of display market during the forecast period

The consumer segment is expected to continue to account for the largest size of the market during the forecast period. The consumer industry includes products such as smartphones, televisions, smart wearables, PC monitors and laptops, and tablets, all of which have significant shares in the global market. The growing demand for organic light-emitting diode (OLED) and micro-LED displays for devices such as smartphones and television sets due to their thinness, flexibility and vibrant colors is a major factor driving the market growth for consumer electronics.

Smartphones to account for the largest share of display market during the forecast period

The smartphone display market accounted for the largest share in 2022 and is expected to dominate the market during forecast period. The growing adoption of OLED and flexible displays in smartphones is a major factor contributing to the market growth. Furthermore, the volume of flexible OLED display panels has been witnessing a significant growth in recent years, subsequently driving the market growth for smartphones. Furthermore, the rollout of 5G is expected to create a surge in demand for smartphones, thereby, driving the market growth for LCD and OLED displays. Moreover, the increasing adoption of smart wearbles is expected to create growth opportunities for market players offering LCD and OLED display panels.

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Asia Pacific to register the highest growth during the forecast period

Asia Pacific is expected to register the highest CAGR in the display market from 2023 to 2028. Asia Pacific is the largest producer and consumer of displays due to the presence of established display panel and device manufacturers such as Samsung Electronics Co., Ltd. (South Korea), LG Display Co., Ltd. (South Korea), BOE Technology Group Co., Ltd. (China), AUO Corporation (Taiwan), etc. Furthermore, increasing investments by governments and other organizations in retail and education industries is also expected to provide ample growth opportunities for market players in the region.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Cellular IoT Market Size, Share, Industry Trends, Growth Drivers Analysis 2030

The global cellular IoT market size was valued at USD 3.9 billion in 2021. it is projected to reach USD 15.4 billion by 2027, growing at a compound annual growth rate (CAGR) of 25.7% during the forecast period.

The key factors fueling the growth of the market include the increasing deployment of cellular IoT modules in smart city infrastructure and building automation verticals, and growing demand for cellular IoT in agricultural automation and environmental monitoring. Additionally, increasing application of cellular IoT modules in medical wearables, and Increasing applications for cellular IoT modules in vehicle telematics and fleet management is expected to create a growth opportunity for the cellular IoT industry.

The hardware segment is projected to account for the largest share of the market by 2027

Hardware components such cellular IoT modules and chipsets form the basis of the entire cellular IoT ecosystem.

The increasing deployment of cellular IoT modules in wearables and connected healthcare devices as well as smartcity infrastructure, and building automation projects is expected to fuel the growth of the hardware segment during by 2027

APAC region is expected to grow at the highest CAGR from 2021 to 2027

China, Japan, India, and South Korea are the major countries contributing to the growth of the cellular IoT market in APAC. Rapid deployment of smart city projects and increased demand for connected health wearable devices during the COVID-19 pandemic are driving the growth of the regional market.

Smart city infrastructure and building automation are the major verticals deploying cellular IoT modules. As of 2020, almost ~30% of the revenue of the market was generated from these verticals.

Emerging cellular IoT technologies such as NB-LTE-M, NB-IoT, and 5G are offering an affordable and power-efficient way to connect battery-operated devices to the internet. From smart street lighting to smart parking, these technologies can help in connecting devices more efficiently than the existing 2G and 3G technologies.

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Some of the major applications of cellular IoT in smart cities are in streetlights, traffic sensing and control devices, infrastructure monitoring devices, waste management devices, and parking management devices. Governments worldwide are particularly focusing on modern infrastructure reforms, and many pilot projects are being set up to achieve this goal. Besides, the governments in North America and Eastern Europe are incentivizing such projects and forging public–private partnerships (PPPs).

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.