Global Buildings Automation and Control Systems (BACS) Market Overview:
The term 'Building Automation and Control System' (BACS) refers to centralized systems that monitor, control, and record the functions of building services systems. Building facilities that are monitored and controlled by a reliable BACS tend to maintain the building environment more efficiently and so reduce the building's environmental impact and energy costs. The rise in demand for smart cities tends to rise in buildings automation and control systems drives the market growth.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Growing Use of Modern and Flexible Communication Standards
Market Growth Drivers:
Rise in Demand for Smart Cities Tends To Rise in Buildings Automation and Control Systems and Increasing Demand for Improved Efficiency and Effectiveness of BACS.
Challenges:
Lack of Consensus amongst End Users for Installation of Buildings Automation and Control Systems
Restraints:
High Start-Up and Installation Costs
Opportunities:
Technological Advancement such as BIM, and Scan to BIM Services to Enhance the Performance of BACS.
Competitive Landscape:
Buildings Automation and Control Systems (BACS) is a fragmented market due to the presence of a large number of established competitors. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Honeywell International Inc. (United States), Cisco Systems Inc. (United States), Trane Technologies (Ireland), Lutron Electronics Co. Ltd. (United States), Hubbell Inc. (United States), Johnson Controls (United States), United Technologies (United States), Schneider Electric (France), Siemens (Germany) and Nlyte Software (United States).
Considering Market by , the sub-segment i.e. will boost the Buildings Automation and Control Systems (BACS) market.Latest Market Insights:
In April 2023, Honeywell acquired Compressor Controls Corporation from INDICOR, LLC. This acquisition integrates into Honeywell's process solutions business and strengthens Honeywell's leadership in industrial control, automation, and process solutions, enabling customers to accelerate their energy transition.
In June 2020, Schneider Electric, a leader in the digital transformation of energy management and automation, and Cisco entered into a technology partnership designed to drive major advances in making smart buildings the norm. The two companies have worked together to develop, test, and validate designs that help connect building management systems to Internet Protocol (IP) networks using an easy-to-manage, secure, scalable, and resilient architecture.
What Can be Explored with the Buildings Automation and Control Systems (BACS) Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Buildings Automation and Control Systems (BACS) Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Buildings Automation and Control Systems (BACS)
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Buildings Automation and Control Systems (BACS) market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Buildings Automation and Control Systems (BACS) market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.