Building Automation System Market Trend Shows A Rapid Growth By 2027 | Growthmarketreports

By Author: Himanshi Arya
Total Articles: 68
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Market Outlook:
The global building automation system market was valued at USD 74,882.0 Million in 2019 and is projected to reach USD 167,356.2 Million by 2027, expanding at a CAGR of 10.9% during the forecast period. The commercial segment is expected to lead the market in the forecast period. Increasing implementation of building automation systems in large shopping centers, office buildings, and public transport, such as airports and train stations, is driving the growth of the business segment. Heating, ventilation, and air conditioning (HVAC), lighting, and security & access control systems are major products used in commercial applications. The security and access control systems have become an integral part of commercial buildings because of the rising security concerns in this sector. In the design and maintenance of BAS, common practice and usefulness in intruder alarms shall not be taken into account. Such a failure may be triggered by security designers and managers (in reference to the owners and operators of the facility) who cannot understand how far BAS converges with other systems.

Strong growth ...
... in the BAS market is being driven by the need to increase energy effectiveness and savings through the implementation of green and sustainable actions. These functions are associated with legislation such as the Energy Policy Law 2005 and the Energy Independence and Protection Law of 2007, which impose certain energy efficiency standards on buildings. Increasing electricity consumption has allowed consumers to opt for more energy-efficient solutions. The use of electricity in the U.S. rose by 1.5% from 2010 to 2018, according to the Environmental Impact Assessment (EIA). Several end-user industries are adopting ways to conserve energy. Some of the approaches include smart lighting systems that can be operated by using a smartphone and provide very convenient accessibility. Smart lighting systems not only increase energy conservation by using smart meters but can also transform any office or home to a high-tech one that is connected to the IoT.

Socio-economic trends, including rapid population growth, increasing middle-class populations, and growing urbanization in India and other countries in South Asia are expected to encourage development in the building automation system market. Increasing disposable income and rising spending per capita in this part of the region are the key drivers that are expected to boost the sales of goods and solutions for building automation systems, which are expected to boost the demand for these systems. Growing disposable incomes in these countries is expected to provide significant growth opportunities during the forecast period to the build automation system market.

The BAS market in the Asia Pacific is estimated to expand at a significant CAGR during the forecast period. Growth of the market is attributed to the rapid expansion of the construction sector in developing countries such as China and India and increasing implementations of government policies to promote the use of building automation system. Smart cities have been developed in countries such as China and India. Building automation systems serve as a central facilitator in the respective countries’ achievement of these objectives. Significant growth of the market in North America is owing to the use of building automation systems for residential, commercial, and industrial purposes to increase energy-efficiency. Implementation of strict primary federal policy guidelines and greenhouse gas emission regulations, increasing energy costs, and rising awareness about the benefits of automation are important drivers of the Market in the region. The global trend for financial and environmental gains within the rest of the world is the main factor for growth of the BAS market. The market is heavily dependent on the attitude towards the greener side of the built environment and its facilities inside each country.

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Market Dynamics
The market is driven by factors such as rising demand for energy-efficient BASs, growing focus on for reducing energy costs, prevention of accident and mishaps due to unexpected breakdowns etc.

BAS Makes the buildings environmentally friendly
BASs help optimize HVAC and lighting systems, saving 5% to 30% of the building's total energy consumption. The HVAC also emits significant amount of CO2. According to the US Energy Information Administration, in 2017, the construction sector in the US accounted for 40% of the total energy consumption in the world, 38% of CO2 emissions, and 36% of greenhouse gas emissions.

BAS maximizes energy use and reduce energy costs
Increasing awareness regarding energy conservation and rising focus on reducing the energy use and maintenance costs of buildings are fueling the demand for BAS. The system plays a significant role in maximizing energy use and reducing energy costs. HVACs and BASs are major consumers of energy. Air heating and cooling together with water heating currently account for around 60% of global energy consumption in houses, according to International Energy Agency (IEA).

Prevention of accident and mishaps due to unexpected breakdowns
BASs help reduce the overall cost of building maintenance by providing, if any, early diagnosis to building managers of operational issues in the equipment. This helps prevent accidents and mishaps due to unexpected breakdowns. Technological advancements in the BAS are increasing their efficiency. The rise in automated security systems in buildings, provides a bridge to this market to grow.

Inaccurate idea about integration costing of BAS
BAS aims at saving resources and high operational and maintenance costs. However, end-users and building owners are hesitating to adopt BAS due to their misguided belief that these systems have high installation costs.
Favorable initiatives by governments
Several authorities play a significant role in energy savings and promote CO2 reduction measures. Numerous governments have enacted legislation and policies to improve energy efficiency to reduce the footprint of a building.

Segmental Outlook
Based on types, the building automation system market has bifurcated into wired technology and wireless technology. The wired technology segment is estimated to hold a large share of the market during the forecast period however wireless technology segment is expected to grow at highest CAGR during the forecast, 11.2% owing to increasing focus on wireless building automation system and connective solutions. Wireless technology in building automation system have simplified the installation process and improved operational efficiencies, which in turn, elevates the overall value of the system. Furthermore, wireless functionalities as compared to wired technology, are equipped with remote operations, which enhance the performance of the building automation system for different operations.
Companies providing construction automation system are increasing R&D investments to make the system cost-effective, scalable, fully programmable, and wireless. Moreover, acceptance of wireless building automation system among property owners is largely influenced by marketing strategies used by companies to bridge the gap between customer needs and product capabilities.

In terms of applications, the building automation system market has been segmented into residential, commercial, and industrial. The commercial segment is expected to lead the market in the forecast period. Increasing implementation of building automation system in large shopping centers, office buildings, and public transport, such as airports and train stations, is driving the growth of the business segment. HVAC, lighting, and security & access control system are major products used in commercial applications. The security and access control system have become an integral part of commercial buildings because of the rising security concerns in this sector.

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Regional Outlook
In terms of regions, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is a promising region for the market. It constituted a 37.6% share of the market in 2019. The market in the region is projected to expand at a CAGR of 10.5% during the forecast period. The demand for building automation system is expected to rise owing to the use of building automation system for residential, commercial, and industrial purposes to increase energy-efficiency. The building automation system market in Asia Pacific is projected to expand at a high CAGR during the forecast period. Growth of the market is attributed to the rapid expansion of the construction sector in developing countries such as China and India and increasing implementations of government policies to promote the use of building automation system. The market in Middle East & Africa and Latin America is projected to expand at a moderate CAGR, as the governments in the countries in the region are focusing upgrading their regulations for the construction industry.

Competitive Landscape

• Key players in the market include Honeywell International Inc., Siemens, Johnson Controls, Schneider Electric, Carrier (United Technologies Corporation), Robert Bosch GmbH, Hubell (Hubbell Incorporated), ABB, Legrand, Building IQ, Ingersoll Rand (Trane), Lutron Electronics Co., Inc., and Crestron Electronics, Inc.
• The players are increasingly focusing on product innovations to sustain in highly competitive and fragmented market. Moreover, the partnerships, mergers, and acquisition are some of the other strategies adopted by leading players to expand geographical presence and capture potential market opportunities.
• For instance, In February 2020, Honeywell International Inc. launched Forge Energy Optimization Solution, a closed-loop and cloud-based machine learning solution that continuously analyzes a building's energy expenditure patterns and automatically adapts to optimal energy saving settings.
• In December 2019, Siemens introduced an updated Desigo CC platform for small- and medium-sized buildings. The technology allows building operators to improve energy efficiency, comfort, and safety of occupants.
• In 2019, Johnson Control and Evoteq entered into a partnership to enter the market in the UAE and launch the country’s first PaaS-based integrated AI Platform to transform offices and operations and make them

Key Benefits for Industry Participants & Stakeholders
• In-depth Analysis of the Global Building Automation System Market
• Historical, Current and Projected Market Size in terms of Value (USD Million)
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on Global Building Automation System Market Performance

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