Building Automation System - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Building Automation System Market is accounted for $67.56 billion in 2020 and is expected to reach $153.45 billion by 2028 growing at a CAGR of 10.8% during the forecast period. Rise in adoption of automated security systems in buildings, development of wireless protocols and wireless sensor network and rapid penetration of IoT in building automation systems are driving the market growth. However, technical difficulties and dearth of skilled experts is hampering the growth of the market.
Building Automation System consists of a microprocessor system that is based on a connection of wired or wireless controllers to diverse systems in a building. The main aim of building an automation system is to improve building structural efficiency. It is designed to monitor and control various parameters such as mechanical, heating, ventilation, and air conditioning (HVAC), humidity, ventilation systems, security, fire, and lighting within a building or across several campuses.
Based on the application, the industrial segment is going to have lucrative growth during the forecast period due to adopting smart building solutions to achieve energy and cost savings, enhancing their productivity, improve their identity and access management, and optimize their surveillance activities.
By geography, Asia Pacific is going to have high growth during the forecast period owing to the economic growth in the region, along with a surge in construction and industrial activities witnessed by the key countries in the region.
Some of the key players profiled in the Building Automation System Market include ABB Inc., Acuity Brands, AMAG Technology, Autani LLC, Azbil Corporation, Bosch, Cimetrics, Cisco, Control4, Delta Controls, Eaton Corporation, Echelon Corp., General Electric, Honeywell and Ingersoll Rand (Trane).
• Facility Management Systems
• Security and Access Controls
• Fire Protection Systems
• Building Energy Management Software
• Building Automation System (BAS) Services
• Wireless Technology
• Wired Technology
• Residential (Do It Yourself (DIY) Home Automation)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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