NEW YORK, December 15, 2024 /PRNewswire/ – The Global Building automation and control systems market It is estimated that the size will grow by $31.12 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 8.71% during the forecast period.
For comprehensive forecasts and historical data on regions, market segments, customer landscape and companies, click here to view the snapshot of this report
|
Report attribute |
Details |
|
Base year |
2023 |
|
Forecast period |
2024-2028 |
|
Historical data for |
2018 – 2022 |
|
Segments covered |
End user (commercial, residential, government and other buildings), type (integration and services) and geography (Europe, North America, APAC, Middle East and Africa and South America) |
|
Regions covered |
Europe, North America, APAC, Middle East & Africa and South America |
Regional outlook
- North America
- Europe
- Asia
- Rest of the world
1. Europe – North America The contribution is estimated at 30%. To the growth of the world market. The building automation and control systems market report forecasts market growth by revenue at global, regional and country levels from 2017 to 2027. The building automation and control systems market includes sensors, detectors, relays and smart electronics that optimize energy consumption and operating costs various Structures such as office buildings, shopping centers, public transport hubs, airports and train stations. Core competencies include HVAC controls, lighting controls and security access control. The residential and hospitality industries also benefit from these systems and contribute to energy efficiency and networked systems in urbanization. Types of materials, including semiconductor chips, are essential components in the construction sector, enabling remote monitoring, energy management systems and smart devices. Technology growth is driven by international energy agencies' focus on energy efficiency and real estate asset integration. Urbanization and the need for smart buildings have accelerated the demand for these systems, with connected systems and international energy management systems playing an important role in reducing energy consumption and monitoring in various applications.
The building automation and control systems market continues to grow due to increasing demand for energy efficiency and cost savings in commercial and industrial buildings. These systems enable automatic control of HVAC, lighting and security, improving comfort and reducing energy consumption. Market leaders include Honeywell, Siemens and Johnson Controls, offering innovative solutions to meet changing customer needs. The market is expected to continue to grow with the integration of IoT and AI technologies.
For further insights on Europe significant contribution together with the market share of the remaining regions and countries – Download a FREE pattern
Segmentation overview
- End User
- 1.1 Commercial buildings
- 1.2 Residential buildings
- 1.3 Government Buildings
- 1.4 Other buildings
- 2.1 Integration
- 2.2 Services
- 3.1 Europe
- 3.2 North America
- 3.3 APAC
- 3.4 Middle East And Africa
- 3.5 South America
Get an overview of the market contribution of the remaining segments – Download a FREE sample report in minutes!
Research analysis
The building automation and control systems (BACS) market is witnessing significant growth due to increasing focus on energy efficiency and sustainability in both commercial and residential buildings. As energy consumption and operating costs rise, integrated systems to manage HVAC, lighting and security are becoming increasingly important for real estate assets. The market is driven by the introduction of electronic devices and software as well as the integration of hardware components such as sensors and actuators. Technological advancements, including 5G technology and energy-efficient buildings, are key factors driving market growth. BACS' core competencies include HVAC control, lighting control and security access control. Material types and industries such as residential and hospitality are also important considerations. Security systems, air conditioning and lighting are important components of BACS, with energy efficiency and building sustainability a top priority. Decarbonization is also an important trend as the industry looks to reduce greenhouse gas emissions and promote a more sustainable future. Overall, the BACS market is poised for further growth as demand for energy efficient and smart building solutions increases.
Market overview
The building automation and control systems (BACS) market is witnessing significant growth due to increasing focus on energy consumption and reducing operational costs across various industries. Technology growth in integrated systems, real estate investments and urbanization is driving demand for energy efficiency and connected systems. The International Energy Agency reports that energy use in buildings accounts for nearly 40% of global energy consumption. Semiconductor chips and smart devices are integral parts of BACS, enabling remote monitoring and energy management systems. The construction sector uses BACS for security systems, HVAC systems and lighting controls in energy efficient buildings. The commercial and industrial segments are investing in BACS for facility management, access management and condition-based maintenance of electrical equipment. The green building concept and CO2 neutrality goals are further stimulating market growth. However, cyberattacks and malware attacks pose a significant threat to BACS operations. Manufacturing companies are focusing on real-time monitoring, 5G technology and supply chain disruptions to mitigate risks and capitalize on business opportunities. The market offers significant growth potential for various construction activities, including office buildings, shopping centers, public transport hubs, airports and train stations. BACS' core competencies include HVAC control, lighting control and security access control. The type of material and the industry, such as: B. residential, hospitality and others influence the market dynamics. Safety, comfort and protection are the main concerns of building automation and control systems in various industries.
Start exploring market insights from Download a FREE sample report in minutes!
Main topics covered:
1 Summary
2 Market landscape
3 market size
4 Historical market size
5 Five Forces Analysis
6 Market Segmentation
7 customer landscape
8 Geographic landscape
9 drivers, challenges and trends
10 Venodr landscape
11 Vendor analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and consulting company. Her research and analysis focuses on trends in emerging markets and provides actionable insights that help companies identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library includes more than 17,000 reports and counting, covering 800 technologies in 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio's comprehensive reporting, extensive research and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions in changing market scenarios.
Contacts
Technavio research
Jesse Maida
Media and Marketing Manager
USA: +1 844 364 1100
UK: +44 203 893 3200
E-mail: [email protected]
Website: www.technavio.com/
SOURCE Technavio
