The building automation system market is expected to grow from +75.0 billion US dollars in 2019 to +120 billion US dollars by 2024, an increase of +10 % on average. The growing adoption of building security systems, the development of wireless protocols and wireless sensor technology for BAS, and the rapid penetration of IoT into building automation systems are critical factors driving the growth of the BAS market.
Energy management software is expected to grow at the fastest rate over the forecast period.
Energy management software helps operators or homeowners constantly monitor and analyze how much energy a building use. It not only notifies building operators or owners of energy drift but also provides useful information for energy conservation. With the advent of technology, BAS manufacturers have focused on developing easy-to-use energy management software for buildings, which in turn stimulates demand for energy management software in buildings.
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Key Market Segments:
Key Market Players:
Honeywell International (US), Siemens AG (Germany), Johnson Controls International (Ireland), Schneider Electric (France), United Technologies Corp. (US), Robert Bosch (Germany), Legrand (France), Hubbell (US), ABB (Switzerland), and Ingersoll-Rand (Ireland)
By Communication Technology:
- Wired Technology
- Wireless Technology
- Facility Management Systems
- Security & Access Control Systems
- Fire Protection Systems
- Building Energy Management Software
- BAS Services
- Others (Gateways, HMI Screens, Smart Plugs, Smart Hubs, and Smart Locks)
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Reduced energy consumption in industrial applications helps BAS market growth
- North America
- Asia Pacific (APAC)
- Rest of the World (RoW)
Industrial facilities include factories, manufacturing facilities, distribution facilities, warehouses and other infrastructure facilities that support manufacturing and manufacturing functions. It is expected that smart building solutions will be introduced in this segment that will save energy and costs, increase productivity, improve account and access management and optimize surveillance. Industrial and industrial buildings have their own requirements for various production processes and storage purposes. These buildings are equipped with the latest technology, from elevators and air conditioning to ventilation systems that contribute to high energy consumption. Reducing energy costs is crucial for industrial and production facilities, as it directly affects the operating and capital costs of the company and may affect its profitability.
APAC's BAS market is expected to grow with maximum CAGR
The APAC building automation market is expected to grow with a maximum CAGR over the forecast period. The expected growth is due to the rapid growth of the construction industry in developing countries such as China and India, and government energy saving initiatives have contributed to the growth of the APAC building automation market. Countries such as China and India have aggressively begun to develop smart cities. BAS plays a key role in the achievement of these goals by the respective countries.
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Table of Content:
Chapter 1 Global Smart Building Automation Market Overview
Chapter 2 Global Economic Impact on Smart Building Automation Market Industry
Chapter 3 Global Smart Building Automation Market Competition by Manufacturers
Chapter 4 Global Smart Building Automation Market Production, Revenue (Value) by Region
Chapter 5 Global Smart Building Automation Market Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Smart Building Automation Market Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Smart Building Automation Market Analysis by Application
Chapter 8 Smart Building Automation Market Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Smart Building Automation Market Forecast (2018-2023)
Chapter 13 Appendix
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