Building Automation Systems Market Scope
Building automation system is a combination of various technologies and software which is highly efficient in controlling various components within a building’s structure including ventilation, air conditioning and security alarms systems as well. The primary goal of building automation system is to improve system efficiency, reduce costs and increase safety and provide breakdown alerts, in order to maintain the building climate as per the residents’ comfort. For instance, the humidity should be maintained in range of 0-30% when the day temperature is in the range of 22- 30ºC and night temperature ranges from 20ºC to 27ºC
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
Key Companies Profiled | Performance Mechanical Group (United States), Robert Bosch GmbH (Germany), Carrier Corporation (United States), Siemens AG (Germany), Trane Inc. (Republic of Ireland), Johnson Controls Inc. (United States), Honeywell International Inc. (United States), Schneider Electric SE (France), Ingersoll Rand Plc. (Ireland), Cisco Systems Inc. (United States) and Lennox International (United States) |
CAGR | 10.58% |
"According to AMA, the Global Building Automation Systems market is expected to see growth rate of 10.58% and may see market size of USD89.8 Billion by 2030." Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Building Automation Systems market throughout the predicted period.
Performance Mechanical Group (United States), Robert Bosch GmbH (Germany), Carrier Corporation (United States), Siemens AG (Germany), Trane Inc. (Republic of Ireland), Johnson Controls Inc. (United States), Honeywell International Inc. (United States), Schneider Electric SE (France), Ingersoll Rand Plc. (Ireland), Cisco Systems Inc. (United States) and Lennox International (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are United Technologies Corporation (United States), Rheem Manufacturing Company (United States) and Legrand (France)..
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Building Automation Systems market by Type , by Application (Residential, Commercial and Industrial) and Region with country level break-up.
On the basis of geography, the market of Building Automation Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Influencing Trend:
Surging adoption of Artificial Intelligence (AI) in the automation system
Market Growth Drivers:
Increasing Demand for Energy-efficient Systems, The growing need for Eco-friendly technologies and ability to reduce the operational costs, Top players are adopting cost-reducing methods to provide affordable building automation systems and Consumer inclination towards smart office systems in developing countries
Challenges:
Lack of skilled maintenance human resource and unpredictable development expenses and Security concerns related to the safety of networks and devices
Restraints:
security concerns related to the safety of networks and devices
Opportunities:
Technological advancements and increase in crime rates and monitoring the children at home in emerging economies
Key Target Audience
Original device manufacturers (ODMs), Building automation service providers, Component suppliers, Research organizations and consulting companies, Application providers, Building automation service providers, Networking technologies vendors, Real estate builders, Building automation software solutions providers, Subcomponent manufacturers and Technology providers