The global building automation system (BAS) market has been witnessing significant growth driven by advancements in technology, increasing awareness about energy conservation, and the growing demand for smart building solutions.
Building Automation
Systems (BAS) are integrated networks of software and hardware that control and
monitor building facilities, including heating, ventilation, air conditioning
(HVAC), lighting, security, and other systems. These systems enhance operational
efficiency, reduce energy consumption, and improve occupant comfort and safety.
Global
Building Automation System Industry Size
The global BAS market
has been experiencing steady growth, with projections indicating robust
expansion in the coming years. According to MarketsandMarkets newly published
research report, The global building automation system market size is expected
to reach USD 155.9 billion by 2028 from 88.4 billion in 2023, at a CAGR of
12.0% during the 2023- 2028 period.
Building Automation
System Market Share
India is expected to be
the fastest-growing market in the Asia Pacific region for the building
automation system market
Though the building
automation system market in India is smaller than that in Japan and China, it
is expected to witness significant growth in the future. Niti Aayog, the policy
agency of the Government of India, estimated that energy demand from buildings
in the country is expected to increase by more than 800% in 2047 as compared
with 2012. Under the current standards, India is anticipated to face high
energy costs and consumption for decades. At the same time, the worsening air
pollution problem in the country is adding to the impact of climate change. The
Government of India took an important step forward in 2017 by launching the
revised Energy Conservation Building Code (ECBC) 2017, which was developed by
the Ministry of Power and the Bureau of Energy Efficiency. The code prescribes
energy performance standards for new commercial buildings to reduce energy
consumption and promote low-carbon growth. It sets parameters for builders,
designers, and architects to integrate renewable energy sources with building
designs to achieve a 50% reduction in the energy consumption of buildings by
2030.
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Building Automation
System Market Statistics and Growth Analysis:
Technological
Advancements:
Rapid advancements in IoT (Internet of Things), cloud computing, and artificial
intelligence (AI) are revolutionizing BAS, enabling seamless integration,
remote monitoring, and predictive maintenance.
Energy Efficiency
Regulations:
Stringent energy efficiency regulations and sustainability initiatives by
governments worldwide are encouraging the adoption of BAS to optimize energy
usage and reduce carbon emissions.
Demand for Smart
Buildings:
Increasing demand for smart buildings equipped with automated systems for
energy management, security, and comfort control is fueling market growth.
Urbanization and
Infrastructure Development: Rapid urbanization and infrastructure development
projects, particularly in emerging economies, are driving the adoption of BAS
in commercial, residential, and industrial sectors.
Top Building Automation
System Companies - Key Market Players
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