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Building Automation Systems Market Segmentation by Component (Hardware, Software, and Services); by Offering (Facility Management Systems, Security and Access Controls, and Fire Protection Systems); and by Application (Residential, Industrial, and Commercial) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Building Automation Systems Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

·   October 2021- Siemens announced the acquisition of Wattsense to boost IoT systems for small and medium buildings, expanding the former’s building products portfolio.

·   July 2019- Bosch Building Technologies planned to acquire GFR – Gesellschaft für Regelungstechnik und Energieeinsparung mbH headquartered in Verl, Germany. The aim is to improve its portfolio of building automation solutions for more security, comfort, and efficiency in commercial buildings.

Global Building Automation Systems Market Highlights 2022 – 2030

The global building automation systems market is estimated to garner a sizeable revenue by growing at a CAGR of ~11% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing need for proper energy management, and rising emphasis on overcoming utility costs across the globe. Along with these, growing technological advancements in wireless communication technologies, and escalating number of government and private projects associated with building automation are also expected to drive market growth in the upcoming years. Furthermore, rapid growth of IoT technology, and initiatives associated with reducing carbon emissions is projected to offer profitable opportunities to the market in the near future. It was calculated that the automotive and enterprise internet of things industry grew by more than 20 percent in 2020, since the last year. Moreover, by the end of 2019, more than 4.5 billion IoT endpoints were evaluated to be in use.

Building Automation System

The market is segmented by offering into facility management systems, security and access controls, and fire protection systems, out of which, the security and access controls segment is anticipated to hold the largest share in the global building automation systems market. This can be accounted to their ability to increase security level, monitor activities and movements of people, and keep a record of people entering and exiting buildings. Apart from these, these systems have revolutionized building security by completely eliminating human intervention, which is another factor predicted to boost market segment growth in the future. Additionally, on the basis of application, the industrial segment is assessed to observe the highest growth during the forecast period, which can be ascribed to the growing adoption of smart building solutions for achieving energy and cost savings, and optimizing surveillance activities. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Research Development

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Building Automation Systems Market Regional Synopsis

On the basis of geographical analysis, the global building automation systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the surging industrial and construction activities, and high economic growth in the region. In addition, government initiatives regarding energy conservation is also a crucial factor expected to accelerate the region’s market growth in the coming years. Moreover, the market in North America is predicted to acquire the largest share during the forecast period owing to the ongoing technological developments, high adoption of building automation systems, and presence of prominent market players in the region. Moreover, the increasing demand for commercial building automation in the United States, backed by the surge in awareness for the numerous benefits associated with the adoption of automation systems, and the surge in the number of commercial buildings in the country, is also predicted to remarkably drive the market growth in the region. According to the data by the U.S. Energy Information Administration (EIA), in the year 2018, the number of commercial buildings crossed 6 million, registering an annual growth of 6% across the country.

Building Automation Systems Market

The global building automation systems market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global building automation systems market includes the following segments:

By Component

  • Hardware
  • Software
  • Services

By Offering

  • Facility Management Systems
  • Security and Access Controls
  • Fire Protection Systems

By Application

  • Residential
  • Industrial
  • Commercial

Growth Drivers

  • Increasing Need for Proper Energy Management
  • Rising Emphasis on Overcoming Utility Costs Globally

Challenges

  • False Notion About High Installation Costs of Building Automation Systems

Top Featured Companies Dominating the Market

  • Schneider Electric
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Siemens AG
  • United Technologies Corp.
  • Honeywell International, Inc.
  • Johnson Controls International
  • ABB Ltd.
  • Hubbell Inc.
  • Ingersoll-Rand PLC
  • Mitsubishi Electric Corporation
  • Robert Bosch GmbH

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