United States (U.S.) Commercial Building Automation Market Highlights over 2022 – 2030
The United States (U.S.) commercial building automation market is estimated to grow at a notable CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing adoption of automation technology, backed by rapid technological advancements, and technically equipped population in the region. Moreover, with the surge in automation amongst the industries, the adoption of robots amongst these end-users have witnessed a magnificent growth.. Nationwide, there are about 0.35 robots per 1,000 human workers, however, these statistics are significantly higher in states, including, California, Texas, and Illinois.
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Besides this, the growing construction of commercial buildings in the United States, supported by rapid developmental activities, and growing urban population, are anticipated to boost the market growth. According to the data by the U.S. Energy Information Administration (EIA), the number of commercial buildings crossed 6 million in 2018, registering an annual growth of 6% across the country.
Additionally, the area of these buildings is also increasing constantly, resulting in a rise in automation of the buildings. Almost every essential need of the building, from security and fire protection, to energy management are catered by automated systems. This not only ensures better performance, and lesser chances of oversight, but also reduces cost of human labor. Such factors are estimated to boost the market growth.
The market is segmented by product type into HVAC, building management systems, security systems, energy management systems, lighting management systems and others out of which, the security systems segment is anticipated to hold the notable share in the United States (U.S.) commercial building automation market over the forecast period on account of high prevalence of crimes, such as, homicide, robbery, and others. More than 350 crimes are reported per 100,000 individuals in the United States every year. On the basis of technology, the wireless segment is anticipated to gain significant market share during the forecast period, owing to the rapid development and adoption of cloud computing technology, along with presence of tech-savvy population in the country.
Major Macro-Economic Indicators Impacting the Market Growth
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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.
Market Segmentation
Our in-depth analysis of the United States (U.S.) commercial building automation market includes the following segments:
By Product Type
- HVAC
- Building Management Systems
- Security Systems
- Energy Management Systems
- Lighting Management Systems
- Others
By Technology
- Wireless
- Wire Control
- Others
By End-User
- Super Markets
- Hospitality
- Hospital
- Others
Growth Drivers
- Increasing Adoption of Automation and Robotics
- Mounting Construction of Commercial Buildings
Challenges
- Loss of Jobs Due to Automation Technology
- High Capital Investment in the Industry
Top Featured Companies Dominating the Market
- Honeywell International Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Boston Dynamics
- Locus Robotics Corp.
- Alphabet Inc.
- Berkshire Grey
- Starship Technologies
- iRobot Corporation
- Genesis Systems
- Fetch Robotics, Inc.
- Turntide Technologies
